EVM, Solarvest, and PECC2 partner to boost renewable energy in Vietnam

• Allows for large-scale green electricity to be provided in Vietnam.
• Uses the Direct Power Purchase Agreement to supply green electricity to EVM

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.”

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