Vu Phong Energy Group has collaborated with the UK’s Shire Oak International Group on a US$10-million project in Vietnam to mount solar panels with a total capacity of more than 12.5MWp on the rooftops of Hwaseung plants.
| Delegates attend the kickoff ceremony. Photo: Vu Phong Energy Group |
The project kicks off with a ceremony held on April 1. These will be the first rooftop solar power systems built in Hwaseung Enterprise’s plants in Vietnam to generate renewable energy for its production activities.
Under the project, Shire Oak International Group will invest in and build a chain of solar power systems at Hwaseung Enterprise plants, while Vu Phong Energy Group will supply general contractor (EPC) services.
With this project, Hwaseung Enterprises expects to eliminate up to 20% of total greenhouse gas emissions at its plants by using clean energy in production processes.
The projects will be built under the BLT (Build – Lease – Transfer) for solar power development. This is a strategy that many investment funds and businesses are interested in, particularly those who are going “green” to reduce their carbon footprint throughout the manufacturing process.
Pham Nam Phong, Chairman of the Board of Directors of Vu Phong Energy Group said furthermore, rooftop solar power systems will fulfill the energy needs of Hwaseung through its own solar power production, which would not put pressure on the grid while still advancing the energy transition and lowering greenhouse gas emissions.
“Vu Phong is delighted to be a part of this initiative and is committed to producing high-quality works, giving the best profits to consumers and partners, and contributing to the energy transition and reducing greenhouse gas emissions, towards the goal of being carbon neutral by 2050, as committed by the Prime Minister at COP26,” Phong added.
Hwaseung Enterprise, with operations in Vietnam, Indonesia, and China, is the world’s manufacturer of footwear, clothes, apparel, and textiles, as well as the primary supplier to several well-known global brands.
Hwaseung Enterprise has been a pioneer in joining the United Nations Framework Convention on Climate Change (UNFCCC) by signing the “Fashion Industry Charter on Climate Action,” and set the target to cut carbon emissions by 50% by 2030.
Cooperation in the development of solar power systems at Vietnam’s factories is an important step in Hwaseung Enterprise’s efforts to achieve the above goal, which will kick off the plan to install larger rooftop solar systems at all existing Hwaseung Enterprise facilities globally.
Earlier, Vu Phong Energy Group has worked with Shire Oak International on numerous large projects in Tien Giang, Ben Tre, Dong Nai, Ba Ria – Vung Tau provinces.
Shire Oak International’s projected growth in Southeast Asia, particularly in Indonesia and Vietnam, will reach 500MWp over the next two years.
