EVM, Solarvest, and PECC2 Partner to Accelerate Renewable Energy Adoption in Vietnam

Saigon Jim Brother’s Corporation (EVM), Solarvest (Vietnam) Company Limited, and Power Engineering Consulting Joint Stock Company 2 (PECC2) have signed a Memorandum of Understanding (MoU) to drive renewable energy adoption in Vietnam. This strategic partnership will utilize the Direct Power Purchase Agreement (DPPA) Mechanism via the national grid, enabling Solarvest and PECC2 to supply large-scale green electricity to EVM’s operations, supporting Vietnam’s clean energy transition.

Following years of research, the Vietnamese government issued Decree 80/2024/ND-CP on July 3, 2024, establishing regulations for DPPA between renewable energy generators and major electricity consumers. The partners have opted for the virtual DPPA model, which allows EVM to procure solar-generated power through the national grid. Recognizing the DPPA Mechanism as a key tool to overcome regulatory, financial, and technical barriers to renewable energy adoption, the collaboration aims to streamline access to sustainable energy solutions and accelerate Vietnam’s shift toward clean power.

Global Vice President – Sales, Assets & Marketing of Solarvest, Mr. Jack Tan Qi Jie, said, “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.”

Mr. Emil Lin, CSR Senior Manager of Saigon Jim Brother’s Corporation (EVM), commented: “As a footwear manufacturing company in Vietnam for a top international brand, sustainability is at the core of our operations. This cooperation with Solarvest and PECC2 marks a pivotal step in our journey toward achieving our turning green targets. By integrating renewable energy into our production processes, we are not only reducing our carbon footprint but also aligning with EP Group’s global sustainability goals. This collaboration demonstrates our commitment to innovation and environmental stewardship as we continue to lead by example in the manufacturing industry.”

Representing PECC2, Mr. Nguyen Hai Phu, Chief Operating Officer of PECC2 said: “This collaboration with Solarvest and EVM represents a significant step forward, allowing PECC2 to provide large-scale green electricity to EVM’s operations in Vietnam. This partnership signifies more than a legal agreement; it demonstrates a shared vision to overcome challenges in renewable energy adoption. By combining our expertise, we aim to address accessibility, regulatory, financial, and technical hurdles, thereby streamlining the implementation of renewable energy solutions and enhancing participation in the DPPA Mechanism for renewable energy projects.”