Vietnamese and American Companies Partner to Boost Renewable Energy in Vietnam

Jan 2025

Vietnam’s Power Engineering Consulting JSC 2 (PECC2) has entered into a collaboration with the US solar manufacturer First Solar to utilize the direct power purchase agreement (DPPA) mechanism and distribute photovoltaic (PV) modules. The memorandum of understanding (MoU) was signed on December 10, 2024, in Ho Chi Minh City, marking a significant advancement in the strategic partnership between PECC2, which operates under Vietnam Electricity (EVN), and First Solar, a leader in solar technology.

Through the DPPA mechanism, PECC2 aims to provide competitive pricing for green and clean electricity, supporting First Solar’s goal of transitioning to 100% renewable energy in its manufacturing operations by 2028. This collaboration is expected to yield marked benefits and reduce reliance on traditional energy sources, contributing significantly to the growth of renewable energy initiatives in Vietnam.

This agreement with First Solar is PECC2’s second under the DPPA framework, following a similar partnership established with fashion brand H&M in November 2024. PECC2 is actively developing renewable energy projects aimed at supplying green electricity to large enterprises, further promoting sustainability within the energy sector.

(Source: The Investor)

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