After
years
of
research,
the
Vietnamese
Government
issued
Decree
80/2024/ND-CP
on
July
3,
2024,
regulating
the
mechanism
for
direct
power
purchase
agreement
(DPPA)
between
renewable
energy
generators
and
large
electricity
consumers.
Among
the
two
types
of
DPPA
outlined
in
this
Decree,
the
DPPA
through
the
national
grid,
also
known
as
the
virtual
DPPA,
is
the
option
selected
by
the
parties
under
this
MOU.
This
mechanism
allows
EVM,
who
has
substantial
renewable
energy
needs,
to
access
a
utility-scale
renewable
energy
generating
source,
a
solar
farm
project,
with
electricity
purchases
made
through
the
national
grid.
EVM,
Solarvest
and
PECC2
recognize
that
this
DPPA
Mechanism
presents
a
unique
opportunity
to
overcome
barriers
to
renewable
energy
adoption,
including
accessible,
regulatory,
financial,
and
technical
challenges.
By
uniting
their
expertise,
the
parties
aim
to
streamline
the
adoption
of
renewable
energy
solutions
and
accelerate
participation
in
the
DPPA
Mechanism
for
solar
energy
projects.
Speaking at the event,
Global Vice President – Sales, Assets & Marketing of Solarvest, Mr. Jack Tan Qi Jie, emphasized the importance of partnerships in achieving sustainability: “This partnership between EVM, Solarvest and PECC2 is more than a collaboration—it’s a strategic alignment of expertise and shared values. Together, we are addressing one of the most critical challenges businesses face today: the transition to renewable energy in a way that is both economically viable and operationally efficient. Solarvest brings years of experience in clean energy development, with over 1,300MW of renewable energy projects across Asia-Pacific. By combining our proven financial models with the technical expertise of PECC2 and the innovative drive of EVM, we are creating tailored solutions that enable businesses to achieve their sustainability goals without compromising profitability. We see that The DPPA via National Grid marks an important milestone in Vietnam’s energy transition and it is expected to transform Vietnam’s energy market, policies, and power system operations toward achieving NET ZERO and excited to be a part of this progress as a pioneer.”Mr. Emil Lin, CSR Senior Manager of Saigon Jim Brother’s Corporation (EVM), commented: “As a footwear manufacturing company in Vietnam for a top international brand, sustainability is at the core of our operations. This cooperation with Solarvest and PECC2 marks a pivotal step in our journey toward achieving our turning green targets. By integrating renewable energy into our production processes, we are not only reducing our carbon footprint but also aligning with EP Group’s global sustainability goals. This collaboration demonstrates our commitment to innovation and environmental stewardship as we continue to lead by example in the manufacturing industry.”
Representing PECC2, Mr. Nguyen Hai Phu, Chief Operating Officer of PECC2 said: “This collaboration with Solarvest and EVM represents a significant step forward, allowing PECC2 to provide large-scale green electricity to EVM’s operations in Vietnam. This partnership signifies more than a legal agreement; it demonstrates a shared vision to overcome challenges in renewable energy adoption. By combining our expertise, we aim to address accessibility, regulatory, financial, and technical hurdles, thereby streamlining the implementation of renewable energy solutions and enhancing participation in the DPPA Mechanism for renewable energy projects.”
https://solarvest.com/
https://www.linkedin.com/company/solarvest/posts/?feedView=all
https://www.facebook.com/solarvest
https://www.instagram.com/solarvestgroup/
Hashtag: #Solarvest #Energy #SolarEnergy #Sustainability
The issuer is solely responsible for the content of this announcement.
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