TotalEnergies ENEOS has signed a long-term deal with Golden Victory Vietnam Co., a key supplier for globally renowned sportswear brands, to develop a 4.6 megawatt-peak (MWp) rooftop solar system at the latter's facility in the northern province of Nam Dinh.
The new deal will take the two sides’ total solarization system size to 7.5 MWp, TotalEnergies ENEOS said on Monday. Golden Victory Vietnam is one of the biggest shoe and footwear manufacturers in the country.
With over 7,900 modules, the rooftop system is expected to produce approximately 5,200 megawatt-hours of renewable electricity annually, realizing significant cost savings for Golden Victory and reducing the company’s carbon footprint by about 4,200 tons of carbon emissions annually, equivalent to planting over 62,000 trees, said TotalEnergies ENEOS.
Under the agreement, TotalEnergies ENEOS will fully fund, install and operate the solar system while Golden Victory will pay only for the electricity generated for 20 years, avoiding any upfront costs.
“In our last solar power project, the system has been running smoothly and the output power has been stable, contributing to our carbon emissions reduction,” said Catherine Liu, Golden Victory Vietnam Co. director.
TotalEnergies ENEOS Renewables Distributed Generation Asia is a 50/50 joint venture between global multi-energy company TotalEnergies and Japanese petroleum company ENEOS to develop onsite business-to-business solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 gigawatts of solar capacity over the next five years.
ENEOS operates more than 20 solar power plants in Japan and is participating in renewable energy projects in Vietnam, the U.S., and Australia. This joint venture is the Japanese firm’s first overseas renewable energy project using distributed power sources.
Installing rooftop solar panels on factories has become a trend among major foreign firms in Vietnam.
Packaging giant Tetra Pak has installed 5,900 square meters of rooftop solar panels on its Binh Duong province-based factory, reducing carbon emissions by 700 tons and generating 1,900 MWh of electricity a year.
The system was completed after six months of construction and is part of Tetra Pak’s commitments to reducing greenhouse gases towards net-zero emissions by 2030, Eliseo Barcas, managing director and president at Tetra Pak Vietnam, said in a release in March.
Agribusinesses De Heus Vietnam and Bel Ga JSC in early March signed agreements with Green Roof, a local rooftop solar power developer, to install rooftop solar power systems at their establishments in the next two years.
Under the deals, they will set up rooftop solar systems of up to 20 MWp at 30 facilities of the two agribusinesses in 19 cities and provinces of Vietnam.
China-based Jinko Solar Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, is seeking to install rooftop solar power for projects in Song Khoai Industrial Park in northern Vietnam’s Quang Ninh province. Song Khoai Industrial Park, developed by Thailand's Amata Group, is scheduled to start operations in 2026.