Samsung seeks clean energy in Vietnam to power future growth.

By Oliver Townsend Jul 10, 2024
Samsung appreciates DPPA in Vietnam, to expand renewable energy procurement: exec.jpegOrginal image from:

In today’s digital age, businesses are constantly seeking innovative ways to enhance their sustainability efforts and reduce their carbon footprint. Samsung Electronics Vietnam (SEV) is one such company that is taking significant steps to secure renewable energy sources in Vietnam. By leveraging the new decree on direct power purchase agreements (DPPA) issued by the Vietnamese government, Samsung aims to expand its renewable energy procurement efforts and strengthen its commitment to sustainability.

Empowering Renewable Energy Procurement with DPPA

The DPPA decree allows enterprises like Samsung to directly purchase renewable energy from private producers without the need for intermediaries, such as the state-owned Vietnam Electricity (EVN). This strategic move enables Samsung to scale up its renewable energy contracts and reduce its reliance on traditional energy sources. By embracing this new mechanism, Samsung is not only advancing its climate strategy but also contributing to Vietnam’s renewable energy infrastructure.

Strategic Collaboration and Technical Expertise

Since the inception of discussions on DPPA in 2019, Samsung has actively engaged with various stakeholders, including the Vietnamese government and civil society organizations. By providing technical advice and advocating for the implementation of a stable renewable energy procurement mechanism, Samsung has demonstrated its commitment to achieving net-zero carbon emissions. Through collaborations with the Asia Clean Energy Coalition (ACEC), Samsung is strategically influencing policy shifts in key Asian markets, with Vietnam being a focal point.

Driving Growth and Sustainability

Samsung’s efforts in renewable energy procurement are not only environmentally conscious but also financially rewarding. The company’s subsidiaries in Vietnam reported significant revenue growth and profit margins in the first quarter of 2024, showcasing the positive impact of sustainable practices on business performance. By proactively embracing renewable energy sources, Samsung is not only future-proofing its operations but also contributing to the overall sustainability landscape in Vietnam.

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