EVM, Solarvest, and PECC2 Partner to Boost Renewable Energy in Vietnam

• Leverages the Direct Power Purchase Agreement mechanism for supplying green electricity to EVM’s operations.
• Allows for large-scale green electricity to be provided in Vietnam.

Saigon Jim Brother’s Corporation (EVM), Solarvest (Vietnam) Company Limited (Solarvest), and Power Engineering Consulting Joint Stock Company 2 (PECC2) have signed an MoU to promote renewable energy in Vietnam via the Direct Power Purchase Agreement (DPPA) Mechanism. This partnership will provide green electricity from Solarvest and PECC2 to EVM’s Vietnamese operations, aligning with Vietnam’s Decree 80/2024/ND-CP on DPPA regulation for renewable energy generators and large consumers. 

Partnership Details

The parties are using the virtual DPPA, enabling EVM to access renewable energy from a solar farm via the national grid. This approach aims to overcome barriers such as accessibility, regulatory, financial, and technical challenges. 

Jack Tan Qi Jie, Global Vice President – Sales, Assets & Marketing of Solarvest, highlighted the strategic importance of the partnership: “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.”

Emil Lin, CSR Senior Manager of EVM, emphasized the company’s commitment to sustainability: “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.”

Nguyen Hai Phu, Chief Operating Officer of PECC2, stated: “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.”