Duc Thanh Wood and GreenYellow join forces on solar energy deal

On January 31, the contract signing ceremony between Duc Thanh Wood and GreenYellow took place at the main office of Duc Thanh Wood in Go Vap district, Ho Chi Minh City.

Duc Thanh Wood is a renowned brand in the production of kitchenware, household items, and children's toys in Vietnam, boasting an extensive network of almost 1,350 retail outlets nationwide and exporting to over 50 countries.

GreenYellow is a subsidiary of France-based Ardian, an independent private equity investment firm with assets totalling $156 billion.

The two parties will collaborate on the installation of a rooftop solar energy system on one of Duc Thanh Wood’s factories in Tan Hiep ward, Tan Uyen city, in the southern province of Binh Duong.

GreenYellow will invest in a rooftop solar power system covering approximately 38,000 square metres. The system’s total capacity is equivalent to 1,227kWp, with a total investment value exceeding $1 million.

The system is expected to be in operation by the end of the first quarter of 2024, with all power produced to be used for the factory's production needs.

This collaboration is seen as a significant breakthrough in helping Duc Thanh Wood reduce costs and will contribute to reducing emissions by more than 2,000 tonnes of CO2 per year, equivalent to planting an additional 3,000 trees.

"The guiding principle that has shaped our decision-making since our establishment back in 1991 has been 'integrity', when the company decided to use only plantation wood in production. Now, we have decided to install and use solar energy to ensure the 'green factor' for our business,” said Le Hai Lieu, chairwoman of the Board of Directors at Duc Thanh Wood.

In addition to acquiring energy-efficient and environmentally friendly machinery, the company prioritises the use of environmentally friendly materials in its production process.

Utilising solar energy for manufacturing is a new step in Duc Thanh Wood’s journey towards green transformation, being carbon-free, and promoting sustainable development.

Nguyen Tat Tu Linh, business development manager of GreenYellow Vietnam, said, “Over the past four years, GreenYellow has demonstrated its potential and currently owns and operates a string of solar power projects in Vietnam with capacities surpassing 185MWp, of a value exceeding $150 million. Through this cooperative deal with Duc Thanh Wood, GreenYellow is honoured to be a partner in delivering the benefits of the effective use of renewable energy.”

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