DEPUTY CHAIRMAN OF CME SOLAR, BÙI TRUNG KIÊN: "DUAL BENEFITS" FOR BUSINESSES UTILIZING ROOFTOP SOLAR POWER

Mr. Bùi Trung Kiên, Deputy Chairman of CME Solar Investment Company, stated that, in addition to environmental conservation by reducing CO2 emissions, transitioning to rooftop solar power also helps businesses cut electricity costs and significant roof maintenance expenses.

In recent times, rooftop solar energy has become one of the sectors attracting the attention of investors worldwide. With technological advancements, the production and installation costs of rooftop solar systems have significantly decreased. This has created numerous investment opportunities for investors globally, including foreign investors.

During the seminar "Convergence of Investment for Prosperous Vietnam" organized by Investment Newspaper on May 15, Mr. Bùi Trung Kiên, Deputy Chairman of CME Solar Investment Company, emphasized the significance of the term "convergence" in the seminar's theme. "Convergence here means 1 plus 1 equals more than 2; it can be 3, 4, or even more. In the current context, this convergence is becoming increasingly important," he stressed.

According to the Deputy Chairman of CME Solar, as a renewable energy investment company, CME Solar has invested in solar projects in Vietnam and is focusing on rooftop solar. "CME Solar views the electricity and energy market in Vietnam, with an expected average growth rate of about 9% per year until 2030. The total electricity capacity will be more than double the current figure, with around 150 MW. This is a rapidly growing market to meet the energy demand for an average economic growth of 6.5%," shared Mr. Bùi Trung Kiên.

Set against the backdrop of Vietnam's strengths in attracting foreign investment, such as a stable economic environment, a young population, and a sizable market in the region, coupled with macroeconomic factors like stable inflation and exchange rates, CME Solar's leadership believes that the investment environment is highly attractive and conducive to drawing strategic investors.

Furthermore, Vietnam is undergoing a significant shift towards renewable energy. The commitments made by Prime Minister Phạm Minh Chính at the COP26 conference illustrate clear goals for policy and energy transition, meeting all three criteria.

The first criterion is ensuring energy security to meet economic and social needs and ensure economic growth. The second is improving the quality of investment capital, synonymous with the quality of sustainable development. When it comes to sustainable development, the green factor is crucial for ensuring sustainability, avoiding environmental pollution crises, and addressing other issues. This is a strong point in future trends.

"The third is the issue of electricity and energy prices, and when combined with a synergistic nature, we can solve the energy cost equation more reasonably," stated the CME Solar leadership.

With the experience that CME Solar is currently implementing, businesses will benefit from lower energy costs if they know how to leverage Vietnam's existing strengths. "CME Solar's model focuses on rooftop solar energy; we invest entirely in rooftop solar energy systems, operate them, and sell to businesses at a lower cost with a high discount," revealed Mr. Bùi Trung Kiên.

According to him, with the high solar radiation potential in Vietnam, rooftop solar energy systems, which utilize existing unused space, enable businesses to use energy at significantly lower costs, saving tens of percentage points compared to conventional energy costs.

"We have developed hundreds of projects in Vietnam because rooftop solar energy eliminates the land liberation issue and pressure on the power transmission system. These are factors that help optimize costs very well at a time when businesses face market expansion pressure, and input costs are increasing," said the Deputy Chairman of CME Solar.

In addition, according to Mr. Bùi Trung Kiên, export-oriented businesses and FDI enterprises are very responsive in implementing rooftop solar energy. Currently, CME Solar has initiated rooftop solar projects for many businesses in the South, and recently, businesses in the North have also shown a keen interest.

"When it comes to the transition to green energy, it may sound distant, but in reality, it's happening very quickly. For example, one of our textile company partners in Nam Dinh province reported that, thanks to using rooftop solar power, the company established relationships and signed export contracts to the US market. One of the mandatory requirements for US importers is that suppliers must use clean energy, but in Nam Dinh province, not many textile companies can meet this requirement," cited Mr. Bùi Trung Kiên.

Sharing the "dual benefits" of businesses using rooftop solar power, CME Solar's leadership mentioned that, along with environmental protection by reducing CO2 emissions, businesses also achieve many economic benefits, such as reduced electricity costs for production and significantly lowered roof maintenance expenses.

Therefore, to attract foreign investment or export goods to challenging markets, the use of clean energy is a practical and almost mandatory requirement. This poses an essential consideration for localities seeking foreign investment.

According to Mr. Bùi Trung Kiên, although the South used to be CME Solar's primary market, the company is rapidly expanding into the North, even though the radiation intensity in the North is lower. "However, CME Solar has the advantage to ensure this does not affect the efficiency of rooftop solar projects. Regarding rooftop solar prices and technology, we have grasped and can compete much better than 20 years ago," emphasized Mr. Bùi Trung Kiên.

The Deputy Chairman of CME Solar believes that, with the current significant potential and advantages, if Vietnam has clear, continuous, and long-term policies, strategies, and directions, strategic investors and FDI enterprises are ready to invest and accompany the country in creating synergies to achieve economic and energy security goals.

To attract new high-quality capital in the rooftop solar energy sector, Mr. Bùi Trung Kiên suggests that Vietnam needs to invest more in research and development to diversify projects and enhance the quality of existing projects.

"One solution is to strengthen cooperation between businesses and research organizations to provide new solutions to improve efficiency and reduce investment costs. Additionally, the government should promote legal regulations to protect the rights of investors and minimize risks during the investment process," emphasized Mr. Bùi Trung Kiên.

Therefore, to attract new investment and especially high-quality foreign investment, Vietnam needs appropriate investment policies, an attractive business environment for investors. Additionally, foreign investors can collaborate with leading domestic partners to access the market easily, and CME Solar is a noteworthy choice.