Hoa Phat Group is vigorously transitioning to renewable energy, committing substantial investments to develop rooftop solar power systems across its industrial zones and factories.
According to Hoa Phat’s homepage, on January 29, 2026, Hoa Phat Urban Development and Construction JSC (a subsidiary of Hoa Phat Group) signed a strategic tripartite memorandum of understanding with Hero Future Energies Vietnam Co., Ltd. and Horus Power Energy JSC (Vietnam). This collaboration aims to develop rooftop solar power systems in Hoa Phat’s industrial zones.
Steel billets. Photo: Hoa Phat Group
Under the agreement, HFE Vietnam and Horus Power will invest, install, own, and operate rooftop solar power systems under the IPP (Invest – Own – Operate) model at Hoa Phat’s industrial zone workshops. The partners ensure the highest technical and safety standards.
Hoa Phat pledges close collaboration, aiming for Net Zero targets and enhancing competitiveness for its industrial zones by optimizing factory roof infrastructure and providing clean energy solutions for land tenants.
Enterprises, particularly multinational corporations within Hoa Phat’s ecosystem, have a significant demand for renewable energy and I-REC green certificates to meet global export standards, especially as the steel and industrial zone sectors must comply with global sustainability criteria.
I-REC (International Renewable Energy Certificate) is a digital certificate that verifies and tracks the origin of renewable energy. It acts as a “green certificate” for electricity, enabling businesses to prove their use of renewable energy.
This certificate is widely adopted in over 60 countries, including Vietnam, across Asia, Africa, Latin America, and the Middle East.
Beyond solar power, Hoa Phat and HFE Vietnam plan to explore and expand cooperation in energy storage solutions (BESS) and larger-scale renewable energy projects in the future.
HFE Vietnam is a subsidiary of Hero Future Energies (HFE), an Indian renewable energy conglomerate with a global renewable energy portfolio of up to 7.5 GW.
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