Stavian Group has announced a major investment in Battery Energy Storage Systems (BESS) at the Stavian Complex in Hung Yen province, marking a decisive step towards Vietnam’s green energy transformation. Through a joint venture with Juhang Energy Technology (Singapore), signed in October 2024, Stavian aims to enhance national energy security and promote sustainable industrialisation.
The BESS project, with an initial investment of USD22 million covering over 5 hectares, will focus on manufacturing energy storage systems, electric vehicle charging equipment, and electric cables. Designed to regulate power grids for renewable projects and industrial microgrids, the BESS will help businesses reduce energy costs by optimizing power usage during peak and off-peak hours. This initiative aligns with Vietnam’s push for renewable energy development, including upcoming legal frameworks for rooftop solar power and the Direct Power Purchase Agreement (DPPA) mechanism.
Expected to launch its first products by Q3 2025, the BESS project is projected to reduce over 27 million tons of CO2 emissions annually, save billions in energy costs, and target both domestic and international markets, including Asia-Pacific and the Middle East.