Saigon Jim Brother’s Corporation (EVM), Solarvest, and Power Engineering Consulting Joint Stock Company 2 (PECC2) have signed a memorandum of understanding (MoU) which will help accelerate renewable energy (RE) adoption in Vietnam. The partnership focuses on utilizing the Direct Power Purchase Agreement (DPPA) Mechanism via the National Grid, which allows EVM to access green electricity from Solarvest’s solar farm projects. This collaboration aims to overcome challenges in renewable energy adoption such as accessibility, financial, and technical barriers, while supporting Vietnam’s transition to clean energy.
The DPPA mechanism, established by the Vietnamese government’s Decree 80/2024/ND-CP, is pivotal in making renewable energy more accessible to large electricity consumers. With over 1,300MW of renewable energy projects across Asia-Pacific, Solarvest aims to bring its financial and technical expertise to the project, while PECC2 helps streamline renewable energy implementation. EVM, a footwear manufacturer, sees this partnership as a crucial step towards achieving its sustainability goals and reducing its carbon footprint, aligning with the global sustainability targets of EP Group. The initiative will likely influence the broader energy market in Vietnam.