Vu Phong Energy Group Shares Rooftop Solar Potential at Forbes Summit

The burgeoning sector of rooftop solar presents a significant opportunity for industrial zones across Vietnam marking a pivotal shift towards sustainable energy consumption. With many factories yet to adopt these systems the potential for self-consumption is immense offering both environmental and economic benefits. This article delves into insights shared by industry leaders particularly Mr. An Pham Dang Deputy General Director of Vu Phong Energy Group at the Forbes Vietnam’s Renewable Energy Summit 2023. It explores the driving forces behind Vietnam’s renewable energy boom the strategic importance of rooftop solar for businesses and innovative cooperation models like the Power Purchase Agreement (PPA) all designed to inform stakeholders about critical investment opportunities and the role of pioneers in this dynamic landscape.

Vu Phong Energy Group Shares Experience in Renewable Energy at Forbes Vietnam Summit

During the panel discussion Mr. An Pham Dang and other distinguished speakers offered valuable experiences practical lessons and insights into emerging opportunities within the renewable energy Vietnam sector. The discussion featured prominent figures such as Mr. Supa Waisayarat Country Director (Vietnam) Super Energy Corporation PLC Ms. Van Nguyen Thanh Head Of Engineering And Construction UPC Renewables Vietnam and Mr. Toan Dang Quoc President & CEO Asia Petroleum Energy Corporation (ASIAPETRO).

Energy experts and investors participated in the Renewable Energy Summit 2023

Shares Pioneering Experience in Renewable Energy Development

Vietnam has emerged as a global leader in renewable energy development between 2018 and 2022 driven by the transition to clean energy and supportive policies like Feed-In Tariff (FIT) mechanisms for solar and wind power. This growth has attracted numerous private investors to the power generation segment of the energy value chain encompassing production transmission and distribution. Vu Phong Energy Group a pioneer in the renewable energy sector in Vietnam since 2009 has successfully delivered over 1000 projects including comprehensive rooftop solar systems for businesses households and large-scale solar power plants.

The Potential of Rooftop Solar Segment

Beyond large-scale solar plant construction Vu Phong Energy Group has significantly ramped up its deployment of rooftop solar systems for businesses. This strategic focus addresses transmission grid challenges arising from rapid solar farm expansion. The company specializes in industrial solar solutions particularly through the Power Purchase Agreement (PPA) model. This enables manufacturing businesses to achieve green transformation and meet emission reduction goals without initial capital investment. Vu Phong has successfully installed rooftop solar for more than 100 factories and currently has 12 additional industrial solar projects underway.

Mr. An Pham Dang Deputy General Director of Vu Phong Energy Group shared at the Summit

Mr. An Pham Dang asserts that the rooftop solar segment holds significant potential for future growth. This outlook is strongly supported by Power Development Plan VIII which explicitly prioritizes and encourages both wind and self-consuming solar power. This energy source enjoys priority regardless of capacity with ambitious targets of 50% of office buildings and 50% of residential houses utilizing self-generating rooftop solar by 2030. Furthermore businesses are increasingly seeking clean energy solutions for green transformation to satisfy the stringent demands of global supply chains. For more details on this national energy strategy refer to details of Power Development Plan VIII.

The Power Purchase Agreement (PPA) Cooperation Model

Adopting clean energy solutions significantly bolsters business competitiveness in the global marketplace. Through the Power Purchase Agreement (PPA) cooperation model Vu Phong Energy Group acts as an integrated investor developer and operations & maintenance (O&M) partner guiding businesses through their entire clean energy journey. Mr. An Pham Dang highlighted the distinct advantage of this approach stating The factories do not need to invest capital initially as Vu Phong and our partners make the entire investment enabling access to clean energy at a lower cost than purchasing from EVN and potentially yielding valuable carbon credit emphasized Mr. An Pham Dang. This makes the PPA model an attractive zero-capex solar solution.

Beyond the scope of rooftop solar power discussions at the summit also covered crucial topics such as the growth potential of wind power development the evolving carbon credit market in Vietnam and opportunities for fostering supply chain development within the broader renewable energy industry. The panel delivered practical insights from pioneering entities capturing significant attendee interest.

The Forbes Vietnam Renewable Energy Summit 2023 themed Investing in Renewable Energy served as a vital platform for stakeholders. It facilitated the exchange of information perspectives and strategic directions in renewable energy empowering the business community policymakers and the Government to collectively address Vietnam’s critical challenges in sustainable and efficient energy supply and utilization. The summit attracted a distinguished attendance including industry leaders experts and major investors in the energy sector.

Key presentations at the summit included In the gold rush of renewable energy delivered by Mr. Son Ha Dang Deputy Chief Of Party Vietnam Low Emission Energy Program II (V-LEEP II) USAID. Additionally two focused discussion panels were held The lessons learnt from the pioneer investors and The flow of international capital featuring experts business leaders and significant investors from the renewable energy sector.

Image source: Forbes Vietnam

Vu Phong Energy Group

Nguồn: https://vuphong.com/vu-phong-energy-group-shares-pioneering-experience-in-renewable-energy/.