CME Solar starts installing rooftop solar power system at Estec Vina factory

CME Solar starts installing rooftop solar power system at Estec Vina factory

On February 26, the CME-Vista joint venture announced the implementation of a rooftop solar energy system at the Estec Vina factory.

Representatives of CME Solar and Estec Vina took a photo

Starting on February 21, this is the first renewable energy initiative to install infrastructure at the Estec Vina factory - a Korean Estec Group subsidiary in Vietnam-Singapore Industrial Park I (VSIP I), Binh Duong province.

The rooftop solar scheme at Estec Vina, developed by the CME-Vista joint venture, is expected to generate 2,086MWh of electricity annually.

Based on Vietnam’s certified CO₂ emission factor of 0.6766, this undertaking is anticipated to reduce approximately 1,411 tonnes of CO₂ emissions per year. The installation adheres strictly to design, legal, construction, and operational safety standards established by the CME-Vista joint venture.

For Estec Vina, transitioning to renewable energy, particularly rooftop solar, is considered the fastest and most effective solution to enhance its competitiveness in exporting products to Europe, Japan, the United States, India, and other key markets.

Estec Vina is a leading manufacturer in the consumer electronics sector, with an annual production capacity of 60 million products serving both domestic and international markets. The company is also a key supplier for global brands such as Samsung, Sony, Alpine, LG, Panasonic, Kia-Hyundai, Yamaha, and Harman.

According to McKinsey estimates, by 2030, carbon tax risks for export-oriented industries in Vietnam could reach $10-30 billion. Transitioning to green energy production will help Vietnam maintain its export competitiveness and drive deeper emissions reductions.

Representatives of the two companies signed contract

Vietnam is among the six countries most affected by climate change globally, and has committed to achieving net-zero emissions by 2050 and reducing methane emissions by 30 per cent by 2030.

To realise these commitments, the prime minister has emphasised that the country's COP26 pledges align with its economic restructuring plans and the global trends of green, circular, and digital economies.

Chung Dieu Tuan, CEO of CME Solar and CEO of the CME-Vista joint venture said,"With Vietnam's net-zero commitment, businesses must transition to renewable energy. CME Solar and the CME-Vista joint venture are setting ambitious goals while staying true to our core values in renewable energy development."

In August 2024, CME Solar Investment JSC and Vista C&I Global (a subsidiary of Samsung C&T) signed a joint venture agreement to collaborate on rooftop solar energy development in Vietnam.

This joint venture marks a significant milestone and supports Vietnamese businesses in transitioning towards a low-carbon economy. Through this partnership, CME-Vista will continue to strengthen its position as a leading foreign-invested enterprise, pioneering advanced technologies and innovative solutions for the green transformation of Vietnam’s economy.

VIR