Stavian Group to invest USD 22 million in battery storage project in Vietnam
Author: PPD Team Date: February 5, 2025
Stavian Group is investing USD 22 million in a Battery Energy Storage System (BESS) project at the Stavian Complex in Hung Yen province, Vietnam. Developed through a joint venture with Juhang Energy Technology (Singapore), the project will cover over 5 hectares and focus on manufacturing energy storage systems, EV charging equipment, and electric cables.
The BESS will support grid regulation for renewable projects and industrial microgrids, helping businesses cut energy costs by optimising power usage. This aligns with Vietnam’s renewable energy goals, including upcoming policies on rooftop solar and direct power purchase agreements.
Set to launch its first products by Q3 2025, the project aims to reduce over 27 million tons of CO2 emissions annually while targeting domestic and international markets, including Asia-Pacific and the Middle East.