Irex’s large steps forward to expand Vietnam’s renewable energy industry

15:24 | 20/07/2020
In June, IREX Energy JSC – a member Solar Bach Khoa Group (SolarBK) – began co-operation with Jiangsu Luneng Energy Group from Singapore to build a manufacturing site for photovoltaic (PV) cells and solar modules, with a total capacity of up to one gigawatt peak, illustrating a giant leap for IREX, SolarBK, and Vietnam as a whole.
1501p12 irexs large steps forward to expand vietnams renewable energy industry
Deputy general director of Electricity of Vietnam, Vo Quang Lam, experienced the smart SSOC supervision system developed by SolarBK

Establishing a solar module manufacturing site in Vietnam was the biggest decision for IREX so far. In 2012, when IREX’s factory was built, the term solar energy was still considered a luxurious keyword in Vietnam. Despite the tremendous potential for solar energy development, no-one could predict the exact time when renewable energy will start booming in Vietnam.

That being said, Vietnam’s solar energy industry in recent years has been mostly commercially developed. Not anyone would dare to selectively take risks like IREX, to invest systematically given the market at that time, when the scale of the industry was still a mystery.

If IREX instead of investing in technology, human resources, and production rather chose a commercialised strategy, the company would have gone faster but not further. It is at this point that IREX asserted its reputation as one of the more prestigious solar factories, becoming a part of the value chain of major brands worldwide.

That thinking led IREX to establish its own identity in comparison to its current rivals. Within five years, IREX has been developing globally while participating in many international trade events. In particular, the Vietnamese brand of solar cells has been present in demanding markets such as Europe and the United States.

But to reach such an achievement, sacrifices are inevitable. By choosing to go the long road to a great destination, the challenges are also greater. IREX is still bravely weathering the storm as the company continues to pursue aspirations and demonstrates impressive milestones.

1501p12 irexs large steps forward to expand vietnams renewable energy industry
In co-operation with Singaporean Luneng, IREX is establishing its factory for PV cells in Vietnam

Developing a home-grown brand

To this day, as solar energy slowly begins to boom in Vietnam, IREX is further professionalising itself from personal expertise to leadership, thereby building a solid system from employee to technology, to confidently compete with top-tier brands.

In 2018, IREX built a high-tech solar module factory, with automation for all processes, minimising manufacturing errors, and bringing class-A solar modules to the market. By 2019, IREX’s solar modules were certified and reinsured by MunichRe, the world’s largest insurance organisation. This was considered to be an important milestone which marked the confirmation of Vietnamese solar module quality.

From here, more opportunities for IREX to partner with many large solar companies around the world to expand solar cells production have opened up. After eight months of due diligence, IREX has chosen Luneng as its strategic partner to jointly invest in the manufacturing of PV and solar modules across Vietnam.

Luneng is one of the world’s leading corporations in PV cell technology, owning a modern production line and a factory with a total capacity of up to 2.5 gigawatts.

Because of the production line and modern machinery, Luneng will be an investment and system design consultant for IREX’s PV cell production line that comes with the technological superiority compared to the market’s regular products.

It is expected that after completion, this will be the second-largest PV cell and module manufacturing facility in Vietnam. Therein, Vietnamese engineers will be involved not only at the normal production stage but also in research, technological development, and production.

A highlight for the world

An IREX factory representative stated, “After COVID-19, IREX received many invitations for partnerships and joint ventures from large corporations. Some of the world’s top 10 companies have contacted, but after careful consideration, IREX accepted Luneng as they aim to develop solar technology while respecting IREX’s vision and brand for its solar cells on the market.”

Currently, IREX is providing rooftop solar PV arrays with more than 30 megawatt peak, distributed in the domestic market, which are highly appreciated. The company is trying to accomplish its goal of becoming one of the top-tier international solar companies.

After the successful handling of the pandemic, Vietnam has become a highlight in the world. Foreign direct investment has begun to pour again into Vietnam, including into the clean energy industry.

Therefore, the successful partnership between IREX and Luneng is considered a favourable start, marking the development of Vietnam’s clean energy industry in the future.

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Based on MasterCMS Ultimate Edition Ver 2.9 2020