Micro Electricity, an energy services provider, has announced a partnership with Vietnam's Saigon Telecommunications (Saigontel) to jointly develop a 300 MW solar power park and a green energy trading platform for industrial zones in southern Vietnam.
Greening energy for Taiwanese companies in Vietnam
Over the next three years, the companies plan to invest US$225 million to establish a solar energy storage and dispatch system in southern Vietnam. The initiative aims to primarily meet the green energy and carbon reduction demands of Taiwan-based firms operating in Vietnam, providing them with comprehensive green energy services.
The project is expected to begin generating revenue by 2025. Mindi Wang, Chairperson of Micro Electricity, stated that the project will be co-funded by both companies, with Saigontel developing the park and Micro Electricity overseeing the project and collaborating with local partners for construction and operations.
Micro Electricity will provide energy management, operations, and green energy transaction services, including International Renewable Energy Certificate (IREC) settlements. These services will help customers manage energy consumption and track carbon emissions. Through the solar and storage system, the initiative will also assist businesses in achieving key green energy and carbon reduction goals.
Wang added that in July, the Vietnamese government officially passed regulations for the Direct Power Purchase Agreement (DPPA), allowing businesses in Vietnam to procure green energy without restrictions. This policy enables renewable energy transactions through private power grids or the national electricity network, allowing companies to directly contract with renewable energy producers.
The solar power park, developed in collaboration with Saigontel, is currently in the planning stages and is expected to launch by 2025, with an installed capacity of 100 MW projected to be completed by 2026, according to Wang.
