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Thursday, January 20, 2022

Tata Coffee Vietnam, Shire Oak International clinch power purchase deal

The Saigon Times

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HCMC – Tata Coffee Vietnam and Shire Oak International signed a power purchase agreement for renewable energy in Vietnam on December 22 at Tata Coffee Vietnam’s production unit in the southern province of Binh Duong.

The signing ceremony marked the two partners’ great efforts to transition to renewable energy.

Under the deal, Shire Oak International will be the developer of the rooftop solar system on Tata Coffee Vietnam’s production unit. This 0.97 MWp system is expected to produce some 1.4 million kilowatt-hours and reduce carbon emissions by more than 1,200 tons annually.

Raghu Narayanam, general director of Tata Coffee Vietnam, said, “This cooperation will be the pioneering project in the Vietnam market regarding the green energy position in our operations. We are expecting that such a system can help reduce greenhouse gas emissions. From this, we might expand the capacity in the future.”

Sustainability is one of Tata Coffee Vietnam’s primary core values, and the environmental area has been their focus throughout the history of operation. Tata Coffee Vietnam aims to play a leadership role in reducing climate change by being knowledgeable, responsive and trustworthy and adopting environment-friendly technologies, business practices, and innovation.

Miguel A. Ferrer, managing director at Shire Oak International, said, “We highly appreciate Tata Coffee Vietnam’s commitment to preserving and enriching the environment. These initiatives align with Shire Oak International’s vision to accelerate the global transition to renewable energy solutions.”

At COP26, Prime Minister Pham Minh Chinh made a bold statement about Vietnam’s targets for net-zero emissions by 2050. Shire Oak International is proud that the cooperation with Tata Coffee Vietnam can contribute to tackling climate change and making goals possible, Miguel added.

“Every company must be responsible for protecting the environment. As a corporation taking green initiatives seriously, I request all companies to take action to reduce greenhouse gas emissions,” said the Tata Coffee Vietnam representative.

Tata Coffee Vietnam is a subsidiary of Tata Coffee Limited, one of Asia’s largest integrated coffee companies, the second-largest exporter of Instant Coffee and the foremost producer of specialty coffee in India.

Shire Oak International is a leading renewable energy investor and developer founded in 2002 in Scotland. Shire Oak has been active in Vietnam since 2019 with a pipeline of 720 projects worth a total of over US$1.9 billion in the country.

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