In a significant stride for the Global Carbon Council (GCC), we proudly announce the registration of the 150 MW Solar Power Project by Hong Phong 1 Energy Joint Stock Company. This milestone holds profound meaning for the GCC, marking not only Vietnam’s inaugural collaboration but also standing as the first project in Southeast Asia. Underlining our commitment to global sustainability, this project exemplifies the GCC’s dedication to promoting clean energy and sustainable practices in the region.
Project Overview: Transforming Energy and Emissions
Delving into the project’s scope, it involves the installation of a 150 MW solar power initiative in the Hong Phong commune, Bac Binh district, Binh Thuan province, Vietnam. Operated by Hong Phong 1 Energy Joint Stock Company and commissioned on 08/06/2019, this endeavor is poised to replace an estimated 237,669 tCO2e annually in anthropogenic greenhouse gas emissions. Simultaneously, it will displace approximately 275,048 MWh/year of electricity from fossil fuel-based power plants connected to the Vietnamese national grid. Over the 10-year crediting period, an impressive reduction of 2,376,693 tCO2e emissions is anticipated.
Beyond Electricity Generation: Catalyst for Sustainable Development
This initiative transcends its role as a mere electricity provider, acting as a catalyst for sustainable development through various avenues:
Promoting Local Environmental Sustainability:
Demonstrating a commitment to preserving the local ecosystem, the project promotes local environmental sustainability by generating renewable electricity with minimal environmental impact in the Hong Phong commune
Employment Generation:
In addition to powering homes, the project creates employment opportunities, providing income for around 35 individuals. Economic development in the project location is fostered by offering equal opportunities in allied services for men and women, contributing to employment generation
Decarbonization of Electric Mix:
By harnessing clean solar energy, the project ensures a year-round supply of renewable electricity, reducing dependence on fossil fuels and enhancing energy security through the decarbonization of the electricity mix
Technological Learning and Development:
Fostering the growth of modern and efficient renewable energy units across Vietnam, the project contributes to advancements in sustainable technology and encourages technological learning and development.
Global Contributions to SDGs
Aligned with multiple Sustainable Development Goals (SDGs), the project significantly contributes to Clean Energy (SDG 7), Economic Growth (SDG 8), and Climate Action (SDG 13). Expectations include substantial annual average emission reductions, marking a decade-long commitment to climate change mitigation.
According to Vamsi Krishna, Founder & MD, Kosher Climate India (P) Limited “we’re not just harnessing solar energy; we’re energizing communities and transforming lives. By creating job opportunities and fostering an inclusive work environment, our project goes beyond sustainability—it’s about empowering individuals and supporting local economies. We believe in the intimate connection between a cleaner environment and improved living conditions. Through our commitment to Sustainable Development Goals in Clean Energy, Economic Growth, and Climate Action, we’re not only generating power but illuminating a path towards a more sustainable, equitable future. Our project is a blend of cutting-edge technology and human impact, driving positive change for both the environment and the people we serve.”
In essence, the 150 MW Solar Power Project by Hong Phong 1 Energy Joint Stock Company serves as a shining example of how sustainable initiatives can effectively address multiple SDGs, making a substantial global contribution towards a more environmentally conscious and equitable future.
