DEEP C further refines major eco-ventures

11:33:00 AM | 5/19/2023

Last week Haiphong Economic Zone Authority awarded investment certificates to two secondary projects in the electronic and energy sectors within DEEP C Haiphong II Industrial Zone (IZ).

The first wind turbine has come into operation at DEEP C

The Starcharge energy equipment production factory from Singapore-based Starcharge Energy will provide vehicle chargers and other energy storage products with a scale of 273,000 devices per year.

Total investment in the project is $14.3 million, with real estate use of 1.4 hectares. The project is slated to finalise construction in the first quarter of 2024 and commence operation from Q2.

Starcharge provides diverse solutions for charging electric cars, for both industrial and domestic use. Its clients include Volkswagen, Hyundai, and BAIC Motor Corporation.

The second project is from HW International Investment Holdings’ HW Energy, which will involve producing 34 tonnes annually of alkaline and zinc-carbon batteries for export.

Total investment value exceeds $50 million, with real estate use of 5.5ha. The project will start construction by the end of this year, finish in Q3 of 2024, and the first production line will come on stream in early 2025. HW International Investment embraces manufacture and distribution of high efficiency and environmentally friendly batteries, among others, and its main markets are Europe, the US, Japan, and South Korea.

“Projects in the electronic and energy sectors have strategic importance to commemorate Haiphong city’s 68th liberation anniversary and other big events in Haiphong,” said Le Trung Kien, director of Haiphong Economic Zone Authority. “The level of investment into Haiphong has always been at the top nationwide, proving that the northen port city is a reliable and attractive location for local and international investors.”

Besides the focus on investment attraction into the energy sector, DEEP C continues to pursue its goal of energy transition.

Bruno Jaspaert, director of DEEP C IZ, said it was one of the first zones to use wind turbines providing electricity for industrial production. “Electricity coming from wind turbines and solar panels will be directly fed into DEEP C’s internal electric network that provides the energy for the entire IZ operation,” he said.

In 2021, it installed a 2.3MW wind turbine in Haiphong II IZ, and is expanding of the installation and operation solar panels on the roof of secondary businesses, further bolstering its energy efficiency and reducing its carbon consumption footprints.

DEEP C has also commenced two solar energy projects with a total production rate reaching 3.1MWp, helping to curtail more than 2,600 tonnes of CO2 emission per year.

In March, DEEP C Green became one of nine carbon reduction projects across Vietnam to have been selected in the first cohort of Climate Finance Accelerator Programme funded by the UK government. The programme will allow DEEP C to further refine the business case of the project, and to have the chance to connect with policymakers to learn more about opportunities and challenges in climate finance; and to improve its credit profile to entice funding and investments from the financiers.

According to Jaspaert, the pursuit of sustainability projects has been the focus and difference maker for the IZ.

“We are the pioneer in building a sustainable and reliable investment destination with our focus on building an eco-industrial park. Sustainability is not only a trend, it’s an inevitable future,” said Jaspaert.

DEEP C will gradually transform from an energy consumer to renewable energy generator and distributor with the ambition of sourcing 50 per cent of its tenants’ energy consumption from renewables by 2030.

Source: Vietnam Business Forum