CME-Vista has commenced its first renewable energy project at the Estec Vina factory, a subsidiary of South Korea’s Estec Group, located in the Vietnam-Singapore Industrial Park I (VSIP I). The initiative marks a significant step toward advancing sustainable energy adoption in Vietnam’s manufacturing sector.
Renewable Energy to Enhance Export Competitiveness
The rooftop solar project at Estec Vina is expected to generate 2.086 MWh of electricity annually, contributing to Vietnam’s efforts to reduce carbon emissions. Based on the country’s certified CO2 emission factor of 0.6766, the project is projected to cut approximately 1.411 tonnes of CO2 emissions per year.
An Estec Vina representative emphasized that as a major player in the consumer electronics sector—with an annual production capacity of 60 million products—transitioning to renewable energy is essential for maintaining export competitiveness. The shift to rooftop solar aligns with the company’s strategy to meet sustainability requirements in key international markets, including Europe, Japan, the US, and India.
Green Energy Transition Critical for Vietnam’s Economy
Vietnam’s export-oriented industries could face carbon tax risks of US$10-30 billion by 2030. Adopting green energy solutions is seen as a crucial step to mitigate these risks and strengthen Vietnam’s position in global trade.
At COP26, Vietnam committed to achieving net-zero emissions by 2050 and reducing methane emissions by 30% by 2030, reinforcing the urgency for businesses to transition to renewable energy sources.
CME-Vista Expands Renewable Energy Investments
Chung Dieu Tuan, CEO of CME Solar and the CME-Vista joint venture, underscored the importance of Vietnam’s net-zero commitment, urging businesses to shift towards sustainable energy solutions.
In August 2024, CME Solar and Vista C&I Global, a subsidiary of Samsung C&T, signed a joint venture agreement to accelerate the development of rooftop solar energy in Vietnam. The partnership aims to support Vietnamese enterprises in transitioning to a low-carbon economy while reinforcing CME-Vista’s position as a leading foreign direct investment (FDI) enterprise in renewable energy.
By pioneering advanced technologies and innovative energy solutions, CME-Vista remains committed to driving Vietnam’s green transformation and strengthening the nation’s sustainable industrial growth.
