Micro Electricity, a forward-thinking energy services provider, has unveiled an ambitious partnership with Vietnam’s Saigon Telecommunications (Saigontel) to develop a cutting-edge 300 MW solar power park. This joint venture also aims to establish a green energy trading platform designed to cater to industrial zones in southern Vietnam.
Over the next three years, the collaboration plans to channel an impressive US$225 million into creating a state-of-the-art solar energy storage and dispatch system. This initiative primarily targets the green energy and carbon reduction needs of Taiwan-based companies operating in Vietnam, offering them a full suite of sustainable energy services.
According to Mindi Wang, Chairperson of Micro Electricity, the project is anticipated to start generating revenue by 2025. The ambitious plan sees Saigontel taking charge of developing the solar park, while Micro Electricity will handle project oversight and work closely with local partners for construction and operational needs.
Micro Electricity’s role doesn’t stop there; the company will also provide comprehensive energy management and green energy transaction services, including settling International Renewable Energy Certificates (IRECs). These services are pivotal for helping businesses manage their energy consumption and track carbon emissions effectively. The innovative solar and storage system is poised to support businesses in meeting essential green energy and carbon reduction targets.
Adding to the momentum, Wang noted that in July, the Vietnamese government enacted new regulations around the Direct Power Purchase Agreement (DPPA). This policy shift allows businesses to procure green energy without limitations, facilitating renewable energy transactions through either private power grids or the national electricity network. This means companies can now directly contract with renewable energy producers, smoothing the way for a greener future.
The development of the solar power park in partnership with Saigontel is still in the planning phases, but it is progressing swiftly. Wang expects the park to be operational by 2025, with an initial installed capacity of 100 MW set to be completed by 2026.
This partnership between Micro Electricity and Saigontel not only marks a significant investment in Vietnam’s renewable energy landscape but also represents a substantial effort towards global carbon reduction goals, promising a brighter, greener future for industries operating within the region.
