Vu Phong Energy Group JSC and British power firm Shire Oak International are all set to work together to develop rooftop solar power systems.
The duo has already signed for the same. The rooftop solar power systems will be developed at factories run by Korea’s Hwaseung Enterprise Co. Ltd. in Vietnam.
It has been reported that this project will receive 10 million USD in total.
According to the companies, the systems will have a combined capacity of over 12.5 MW. The project will be carried out under the build - lease - transfer format.
As per the Chairman of the Vu Phong Energy Group Pham Nam Phong, the company "pledged to build structures of the highest quality to generate optimum profits for its clients and partners while contributing to energy transition and greenhouse gas reduction, " a local report mentioned.
By using solar power, Hwaseung Enterprise expects to reduce its factories’ greenhouse gas emissions by 20 percent.
It is a part of the company’s plan to "install solar power systems at all of its establishments around the world with the aim to halve its carbon emissions by 2030."
The latest systems are expected to help Vietnam to achieve net zero emissions by 2050.