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Risen Energy opens Hanoi office

Released at: 10:52, 29/08/2018

Risen Energy opens Hanoi office

Photo: Risen Energy

PV industry leader in China opens office as part of overseas expansion plans.

by Doanh Doanh

The Risen Energy Co., a listed photo-voltaic (PV) module producer and industry leader in China, has announced the formal establishment of a branch office in Hanoi as part of its expansion overseas.

It will roll out a localization plan to rapidly and efficiently serve global clients and establish a strong footprint in Vietnam. The company plans to employ upwards of ten local executives and leverage the superior resources it has developed outside of its home market over several years to be in a position to provide a rapid response to service calls. It will also continually improve service standards and after-sales services based on market expectations, in a move to build trust and credibility with local customers.

Risen Energy said it has reached agreements with several leading Vietnamese firms as an initial step in staking out a presence in Southeast Asia. According to its initial roadmap, the Hanoi branch office will begin investing in EPC projects generating in the aggregate 150 MW during 2018 and expects the figure to double next year. It will also continue to invest in Vietnam, as it views the country as a GW-grade market thanks to its stable political and business environment.

International growth has been a focus of the company over the last year and is in response to evolving industry trends and its commitment to meeting market demands with cutting-edge manufacturing technologies and the rich experience it has already accumulated in terms of EPC projects outside of its home market. With the aim of rapidly establishing a footprint in Southeast Asia, it plans to speed up investment in power stations as well as in the provision of EPC services in Vietnam to create new revenue streams following the setting up of the branch office.

To optimize its energy infrastructure, the Vietnamese Government has undertaken efforts to shift to clean energy resources such as wind and PV power. The country plans to have PV power stations in operation with an aggregate installed capacity of 850 MW by 2020 and 10 GW by 2030. To meet this goal, the government has introduced a series of favorable policies in terms of PV-based electricity prices, taxes on PV project developers, import tariffs, and land use taxes, all of which have facilitated the expansion of PV developers in the country.

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