Asia Clean Capital Vietnam (ACC Vietnam) and Universal Alloy Corporation Vietnam (UACV) entered into a power purchase agreement on December 16 and kicked off a rooftop solar project with a capacity of 4.3MWp.
Under this fifteen-year power purchase agreement signed at the UACV factory in Danang Hi-Tech Park, ACC Vietnam will provide UACV with a turnkey clean energy solution powered by a 4.3MWp rooftop solar (PV) system.
The PV system is designed and built to meet the highest safety standards in a region that is hit every year by heavy storms and typhoons. With 7,172 modules installed, the system will generate 5,906MWh and avoid 4,800 tons of CO2 annually, helping UACV offset 27 per cent of its current annual power demand.
|The power purchase agreement signing between UACV and ACCV |
On December 16, the commencement ceremony for this project was also held at the UACV factory. It was witnessed by board representatives from Danang Hi-Tech Park Management, the American Chamber of Commerce, the Danang and Vietnam ESG committee, DINCO Engineering & Construction Corporation, and notable leaders from progressive Danang-based enterprises.
|The commencement ceremony |
At the ceremony, Truong Hoang Nguyen, general director of UACV stated, “At Universal Alloy Corporation Vietnam, we have a vision of achieving net-zero emissions by 2035. Installing the rooftop solar PV system is one of the first major steps that we are implementing in Vietnam to realise this vision. We want to operate with zero CO2 generation."
"Universal Alloy Corporation is recycling 98 per cent of our main raw material (aluminium). These actions prove our aspiration to become a leading green company in terms of ESG adoption. I strongly believe that with the skills of our partners, the dedication of more than 800 UACV staff, and the corporate support from Montana Aerospace, we will bring this factory to the next level,” he added.
|Truong Hoang Nguyen expressing his aspiration for the UAC factory to become the factory of the future |
The decision to transition to clean energy proves UACV Management Board’s determination to act against climate change and lead the way for greener manufacturing in the aerospace industry. This is also the message that Prime Minister Pham Minh Chinh delivered during his visit to UACV utilities back in June this year.
As the investor and developer of this rooftop solar PV project, ACCV CEO Michael Viet Luong said, “As the Danang branch of the world's leading aerospace component manufacturer and a key FDI project in Da Nang Hi-Tech Park, Universal Alloy Corporation Vietnam sets an example for other progressive enterprises to transition to renewable energy and contributes to the government’s goal of achieving net-zero emissions by 2050.”
“As a preferred partner for multinational companies, Asia Clean Capital Vietnam is committed to providing clean energy solutions that meet the strict standards of Universal Alloy Corporation Vietnam,” he added.
On behalf of 365 Energy, CEO of the Danang branch Hoi Nguyen stated, “365 Energy has installed close to 200MWp of rooftop solar energy capacity across the country. With our experience, we are committed to providing technical excellence that meets the highest safety requirements from UACV to overcome the typhoon season in the region."
Established in 2019, Universal Alloy Corporation Vietnam manufactures and exports aircraft components to North America and Europe. These totalled $11 million in 2021 and $35 million in 2022. The company expects to reach $60 million in 2026 and $90 million in 2028.
|Truong Hoang Nguyen explaining the component manufacturing process at UAC Vietnam to the guests |
All the components manufactured at UACV go through a stringent compliance protocol to be eligible for export to North American and European markets.
To respond to the growing ESG needs for measurable, recordable, and verifiable data, Asia Clean Capital provides access to its dedicated blockchain platform powered by Allinfra, which collects verifiable carbon data directly at the source, enables transparent ESG reporting and creates dRECs that are traceable to the underlying data to the production meter. As the preferred partner of multinationals and large domestic firms hoping to achieve net zero, ACCV is committed to delivering a total solution.
| ||ACCV’s first battery storage project with Motul in Vietnam |
Solar rooftop developer Asia Clean Capital Vietnam last month has announced that it has signed a 20-year power purchase agreement (PPA) with Vilube, a subsidiary of Motul group, for its production base in Ho Chi Minh City.
| ||Over $15 billion available for Vietnam’s green transition |
The Just Energy Transition Partnership is a bold initiative by the International Partners Group, including the European Union, the United Kingdom, France, Germany, the United States, Italy, Canada, Japan, Norway and Denmark, to mobilise an initial $15.5 billion of public and private finance over the next three to five years to support Vietnam’s green transition.
| ||Vietnam up to the challenge in hitting net-zero targets |
At COP27 last month, Vietnam took further action to fulfil its net-zero goals by 2050 through a strong energy transition, which has been putting pressure on long-term energy policy revisions to ensure international commitments.
| ||Just energy transition: a green pathway for sustainable development |
Vietnam is striving to realise the country’s strong commitment to decarbonisation through a just and sustainable energy transition.
By Bich Thuy