IREX ready to ride sustainable surge

IREX has implemented many clean energy projects in both domestic and foreign markets

The renewable energy sector has tremendous potential in Vietnam due to an ever increasing consumption demand and the environmental challenges associated with conventional power plants.

Further, renewable energy bears significant industrial potential for establishing new manufacturing industries in Vietnam – that is if the political framework provides adequate support for substantial renewable energy developments.

According to World Bank, Vietnam is emerging as a leader in the global race to switch to sustainable energy by 2030. The country has made robust policies to support energy access, renewables, and energy efficiency.

The political momentum initiated by a draft for solar PV support mechanisms in 2015 has gotten the attention of foreign investors. The latest interest in solar surrounds the solar photovoltaic (PV) sector.

IREX owns a factory that manufactures internationally compliant solar cells and panels, using modern imported machinery from Germany, Italy, and Japan

Over the past few years, many international energy firms came to Vietnam to research the local PV market. Some investors were simply curious, while others were on a serious hunt for competent local partners.

According to industry insiders, technical capability is one of the most crucial factors that attracts long-term investment from overseas firms. Armed with cutting edge technologies, local companies can prove their vision for sustainable development.

Skilled human resources are also indispensable for the development of clean energy firms – but foreign investors take into account infrastructure facilities, financial capability, and growth potential as well before entering into partnership with local firms.

These demanding requirements have forced domestic energy companies to transform themselves to meet the expectations of foreign investors. However, only a few Vietnamese energy firms can fully fulfil these rigorous requirements.

Leveraging its extensive experience garnered through solar energy projects in Vietnam and around the world, IREX Energy Joint-Stock Company (IREX) embraces the sophisticated expectations of foreign energy firms. The company has recently inaugurated a high-tech energy equipment complex in Phu My I industrial park in the Tan Thanh commune of Ba Ria – Vung Tau province.

According to IREX’s director Dong Van Sen, the project is part of a broad strategy to facilitate Vietnam’s shift to sustainable energy. In addition to satisfying domestic demand, the products will also meet international standards so they can be exported to Europe and the US.

He stressed that the high-tech energy equipment complex is expected to set a new benchmark for the solar PV sector in Vietnam. Within the scope of the project, IREX plans to develop a renewable energy research and development (R&D) centre to produce more clean energy applications in the country.

After 40 years of continuous research conducted by generations of scientists, IREX has implemented many clean energy projects in both domestic and international markets. Some notable projects include clean energy in the Spratly Islands, the Green One UN House in Ha Noi, and the Integrated Political Administration Center in Binh Duong.

The company is on a successful track that requires constant innovation. One of its prominent products is called Solar System Operation Center (SSOC), developed by Bach Khoa Investment and Development of Solar Energy Corporation (SolarBK). The solution makes monitoring and management processes more convenient, allowing users to easily access SolarBK experts via any device connected to the internet.

In addition to a strong technology base, IREX boasts skilled human resources, especially in its R&D team which is comprised of scientists with extensive knowledge and expertise. This is one of its competitive advantages. It allows IREX to garner favourable attention from foreign investors because energy firms must have a skilled workforce to keep up with rapid changes in technology.

IREX also owns a factory that manufactures internationally compliant solar cells and panels. The factory uses imported machinery from Germany, Italy, and Japan, with some production lines being fully automated.

Using their highly automated machinery and modern facilities, IREX produces a wide range of monocrystalline and polycrystalline photovoltaic panels that have outputs ranging from 35 to 350 watt peak capacity. Their solar cell efficiency exceeds 21 per cent in standard conditions, with panels that have a 12-year warrantee for materials and workmanship, and a 25-year warrantee for linear power output.

The company boasts a network of agencies and distributors nationwide to increase its brand awareness among consumers and investors. The fact that a Vietnamese company like IREX has the competency to be proactive in areas such as materials control and consulting as well as designing, implementing, managing, and transferring PV projects has definitely impressed international investors.

Sen stated that IREX will continue its efforts to maintain customer confidence when – achievable through investments in people, quality control processes, and machinery.

“Our panels are assembled using the highest quality materials and are all fully tested for quality and performance prior to leaving the factory. We are proud to be a leading Vietnam PV manufacturer and welcome partnerships with international investors to promote and build a greener future in Vietnam,” he added.

Founded in 2012, IREX is a member of SolarBK. The main product of IREX is photovoltaic panels for both businesses and households. IREX panels meet the following European and US standards issued by TUV Rheinland: IEC 61215:2005, IEC 61730:2004, and UL 1703.