Vietnam’s Hoa Sen Group adopts CaaS and rooftop solar to cut emissions. (Photo: Hoa Sen Group)
To strengthen its green competitiveness, Vietnamese steel giant Hoa Sen Group has partnered with Singapore’s SP Group to deploy a Cooling-as-a-Service (CaaS) system, combined with rooftop solar power.
The initiative is expected to reduce the company’s cooling electricity use by over 30% annually and cut carbon emissions by 14,000 tons.
Hoa Sen ramps up green shift with rooftop solar, smart cooling
Under the agreement, SP Group will install a 1,900 refrigeration-ton CaaS system at Hoa Sen’s two key steel sheet plants in Phu My and Nghe An, with operations set to begin in Q2 of 2026. Rather than investing in cooling equipment, Hoa Sen will pay for the cooling service, saving on infrastructure and capital costs.
In addition, SP Group has completed the installation of 17.6MWp of rooftop solar systems at the two facilities, commissioned in March and June respectively, which are expected to generate 21,000 MWh of clean energy per year.
Through improved energy efficiency and the use of renewables, Hoa Sen anticipates cutting its cooling electricity bills by over 30%, while reducing emissions equivalent to the annual output of 3,300 cars.
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Hoa Sen Group’s Nghe An steel plant, where the rooftop solar power system was commissioned in June. (Photo: Hoa Sen Group)
Hoa Sen aligns with Vietnam’s 2050 net-zero target
According to Nguyen Minh Phuc, Deputy General Director of Hoa Sen Group, the company’s investment in energy transition, grid infrastructure, and efficiency systems reflects its firm commitment to sustainable development and supports Vietnam’s 2050 net-zero target.
Founded in 2001, Hoa Sen reported in its latest annual disclosure that it has completed carbon inventories for all domestic steel plants and obtained carbon footprint certifications for nearly 20 products. Beyond rooftop solar and energy efficiency upgrades, Hoa Sen has also signed clean energy cooperation agreements to accelerate its decarbonization efforts.
SP Group entered the Vietnamese market in 2021, focusing on sustainable energy solutions. Its portfolio now includes nearly 400 MWp of solar projects serving over 50 commercial and industrial clients.
Brandon Chia, Managing Director of Southeast Asia Sustainable Energy Solutions at SP Group, said this marks the group’s first-ever deployment of a CaaS system in Vietnam. He added that SP plans to expand its presence using the same service model across the country.
Source: VIR, Hoa Sen, Vietnam News
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