Saigon Jim Brother’s Corporation, Solarvest, and PECC2 Forge Strategic Partnership to Drive 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 accelerate the adoption of renewable energy in Vietnam. This strategic partnership will leverage the Direct Power Purchase Agreement (DPPA) Mechanism via the National Grid, allowing Solarvest and PECC2 to supply large-scale green electricity to EVM’s operations. The collaboration plays a key role in supporting Vietnam’s clean energy transition and sustainable energy projects.

Following years of research, the Vietnamese government introduced Decree 80/2024/ND-CP on July 3, 2024, establishing a regulatory framework for DPPA agreements between renewable energy providers and large electricity consumers. Under this MoU, the three companies have chosen the National Grid DPPA (Virtual DPPA) model, enabling EVM to source electricity from a solar farm while purchasing power through the national grid. This mechanism removes key barriers to renewable energy adoption, including regulatory, financial, and technical challenges.

By combining their expertise, EVM, Solarvest, and PECC2 aim to streamline the integration of renewable energy solutions and expand participation in the DPPA Mechanism for solar projects.

Industry Leaders on the Partnership’s Impact

Jack Tan Qi Jie, Global Vice President of sales, Assets & Marketing of Solarvest, highlighted the significance of collaboration in driving sustainability:

“This partnership between EVM, Solarvest, and PECC2 is more than just a collaboration—it’s a strategic alignment of expertise and shared values. Businesses today face the challenge of transitioning to renewable energy in a way that is both economically viable and operationally efficient. With over 1,300MW of renewable energy projects across Asia-Pacific, Solarvest brings extensive experience in clean energy development. Together with PECC2’s technical expertise and EVM’s innovative approach, we are delivering tailored solutions that help businesses achieve sustainability goals without compromising profitability.

The DPPA via National Grid represents a major milestone in Vietnam’s energy transition, shaping its energy market, policies, and power system operations towards achieving NET ZERO. We are proud to be pioneers in this progress.”

Emil Lin, CSR Senior Manager of Saigon Jim Brother’s Corporation (EVM), emphasized the importance of sustainability in manufacturing:

“As a leading footwear manufacturer in Vietnam for a top international brand, sustainability is at the core of our operations. This partnership with Solarvest and PECC2 is a crucial step toward achieving our green transition targets. By integrating renewable energy into our production processes, we are significantly reducing our carbon footprint while aligning with EP Group’s global sustainability goals. This collaboration reaffirms our commitment to innovation and environmental responsibility, positioning us as a leader in sustainable manufacturing.”

Nguyen Hai Phu, Chief Operating Officer of PECC2, underlined the broader impact of the partnership:

“This collaboration with Solarvest and EVM is a major breakthrough in renewable energy adoption. PECC2 is committed to supplying large-scale green electricity to EVM’s operations in Vietnam. Beyond just an agreement, this partnership reflects a shared vision to overcome the regulatory, financial, and technical challenges of renewable energy adoption. By combining our expertise, we are streamlining the implementation of clean energy solutions and increasing participation in the DPPA Mechanism for renewable energy projects.”

Through this strategic alliance, EVM, Solarvest, and PECC2 are paving the way for a sustainable future in Vietnam’s energy sector, fostering innovation and accelerating the country’s clean energy transition.