Duy Tan Binh Duong Plastics has signed a deal to build a 2,170 kWp rooftop solar photovoltaic system covering 16,000 square meters on its factory in the southern province of Binh Duong.
The project, implemented in the build-lease-transfer (BLT) format, will have Baywa R.E. Vietnam Co. Ltd. as the investor and Vu Phong Energy Group JSC as the engineering, procurement, and construction (EPC) contractor. The project is expected to begin operation in late of the first quarter of 2023.
The construction marks the company’s move towards sustainable and green production. The rooftop solar system is estimated to generate three million kWh annually, helping the firm reduce its carbon emissions by 2,000 tons a year.
Under the BLT model, Baywa R.E. Vietnam, a subsidiary of Germany-headquartered Baywa R.E., and Vu Phong Energy Group will develop the rooftop solar system, lease it, or sell the electricity generated. Duy Tan Binh Duong, as the client, will use the generated power and receive the system at the end of the contract at zero cost.
Earlier, Duy Tan Binh Duong’s sister concern, Duy Tan Long An, had installed a 9,932-kWp rooftop solar system. The 99,300 square meter system can reduce emissions by 8,741 tons a year as it generates 13 million kWh, helping the firm save VND5.3 billion ($225,000) a year.