IREX surpasses full-year revenue target after six months

August 04, 2017 | 16:04

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IREX Energy JSC, the country’s leading solar panel producer, has achieved its full-year revenue target in six short months, according to company director Dong Van Sen at their recent first-half review meeting.

IREX exceeded the annual revenue target within half a year and is looking for more

Particularly, in the first six months of this year, IREX signed a raft of major contracts to produce and export solar photovoltaic (PV) panels with a total capacity surpassing 20 megawatts. Additionally, the company signed other contracts with local partners with a combined capacity of 1.3MW.

Moreover, in July alone the company has received a proposal on the production of 25MV solar PV panels, the largest ever contract it has ever signed so far.

Many other contracts are under negotiation with the estimated production capacity touching 80MW.

If things go as planned, 2017 is expected to witness a breakthrough in the development of five-year-old IREX.

With its existing factory’s recent capacity expansion from 300MW to 800MV (500MW for PV modules and 300MW for solar cells) in parallel with employing cutting-edge automatic technology systems, the company ensures a successful completion of all afore-mentioned contracts.

To secure such mega contracts for export and domestic supply, the company’s products have reached European and US standards issued by TUV Rheinland—a leading independent inspection and testing services provider, including IEC 61215:2005, IEC 61730:2004, and UL 1703.

Despite having achieved the revenue target for 2017, the company leadership and employees are committed to making further strides along the way, growing into a prestigious brand as an expert in providing smart PV rooftop and panel solutions in the domestic and international market.

The company’s recent projects include the provision of 92 solar PV panels with a capacity of 25.82 kilowatts peak (kWp) to Southern Power Corporation (March 2017) and 50 PV panels with a capacity of 310 watts peak (Wp) per panel to Hoang Sa Hotel in the central city of Danang (June 2017).

Most recently, it has provided 94 PV panels with a capacity of 310Wp. Each panel can generate 46,680kWh per year (July 2017).

IREX is a member of Bach Khoa Investment and Development of Solar Energy Corporation (SolarBK), a leading provider of renewable energy solutions in Vietnam.

In Vietnam, IREX is a solar energy leader in industry, commercial, and civil circles alike. The company’s strength is in the direct production of solar panels and components, such as PV modules and cells, made to internationally-recognised standards.

Founded in 2012, IREX has inherited 40 years of research and the creative values of SolarBK in manufacturing and selling renewable energy products.

With this strong background, the company has been proactive in controlling materials, consulting, designing, implementing, managing, and transferring solar PV projects.