19/12/2023 Press release
TotalEnergies ENEOS Completes 6 Megawatt-Peak Solar Rooftop Project for Chin Well Fasteners in Vietnam
Ho Chi Minh City, Vietnam, December 19, 2023 – TotalEnergies ENEOS has successfully completed the installation of a 6 megawatt-peak (MWp) solar rooftop photovoltaic (PV) system for Chin Well Fasteners (Vietnam). Chin Well is one of the largest carbon steel fastener producers in the world. Its production facilities in Vietnam manufacture a wide range of fasteners used in power and land infrastructure sectors, will now be powered with about 30% of clean electricity.
This solar rooftop project is part of Chin Well’s commitment to support its customers’ transition to comply with the upcoming CBAN (Carbon Border Adjustment Mechanism). TotalEnergies ENEOS, known for their quality and robust technical experience in deploying renewable energy solutions on highly technical and complex sites, is chosen to support them in their transition towards clean energy. The project was completed within 4 months.
With over 10,000 of modules installed, the 6 MWp PV system generates approximately 8,900 megawatt-hours (MWh) of renewable electricity annually, realising significant cost savings for Chin Well and reducing the company’s carbon footprint by about 5,850 tonnes of CO2 emissions annually, equivalent to planting over 87,700 trees.
Under the agreement, TotalEnergies ENEOS fully funded, installed the solar system, and will operate it while Chin Well will only purchase the electricity produced for 20 years, avoiding any upfront investments.
“We are proud to have completed the solar rooftop project for Chin Well and provide a solution that fulfils both its environmental sustainability and cost-saving goals. As a leading solar service provider for commercial and industrial businesses, TotalEnergies ENEOS commits on the quality and reliability of our operations over the 20 years to provide peace of mind from a technical, financial, and commercial perspective. We look forward to fostering a lasting energy partnership with Chin Well and exploring further collaboration in the future.”, said Elodie Renaud, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia.
About TotalEnergies ENEOS Renewables Distributed Generation Asia Pte. Ltd.
The company is a 50/50 joint venture between TotalEnergies and ENEOS to develop onsite B2B solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 GW of decentralized solar capacity over the next five years. https://solar.totalenergies.asia
TotalEnergies and renewables electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end of Q2 2023, TotalEnergies’ gross renewable electricity generation installed capacity was 19 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world’s top 5 producers of electricity from wind and solar energy. https://renewables.totalenergies.com/en
ENEOS Corporation and renewables electricity
ENEOS operates over 20 solar power plants in Japan and are also participating in renewable energy projects in the United States, Australia, and Vietnam. Furthermore, ENEOS is actively engaged in power generation projects using biomass, hydroelectric power, wind power, etc. This joint venture is ENEOS’ first overseas renewable energy project using distributed power sources.
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
About ENEOS Corporation
ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group’s envisioned goals for 2040 are: becoming one of the most prominent and internationally competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon-neutral status in its own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group’s envisioned goals through a broad range of energy businesses.
About Chin Well
Founded in 1989, Chin Well is today one of the world’s largest manufacturers and suppliers of high-quality carbon steel fasteners (i.e. screws, nuts and bolts). Through production facilities in Malaysia and Vietnam, Chin Well manufactures and supplies fasteners global fasteners that are primarily utilized in highway guard rails, power transmission towers, furniture and other applications. In addition to serving the requirements of the domestic market, Chin Well established an international customer base from
South East Asia (SEA) to Europe and the Middle-East to date.
Cautionary Note TotalEnergies
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Cautionary Note ENEOS Corporation
The terms “ENEOS”, “ENEOS Group” in this document are used to designate ENEOS Corporation and the consolidated entities that are directly or indirectly controlled by ENEOS Corporation. This document contains certain forward-looking statements. Actual results may differ materially from those reflected in any forward-looking statement due to various factors, which include, but are not limited to, the following: (1) macroeconomic conditions and changes in the competitive environment in the energy, resources, and materials industries; (2) the impact of COVID-19 on economic activity; (3) changes in laws and regulations; and (4) risks related to litigation and other legal proceedings.