Runergy invests $293 million in new silicon and semiconductor plant expansion

The Southeast Nghe An Economic Zone (SENA) has recently announced a significant investment of $293 million from Runergy, a prominent solar panel manufacturer. This investment will be utilized for the construction of a state-of-the-art silicon and semiconductor manufacturing plant. The prime minister’s presence at the investment certificate presentation, held in conjunction with a meeting with key Chinese economic conglomerates, highlights the importance of this venture. The new facility is expected to have a capacity to produce 14,635 tonnes of silicon and 995 million 182mm semiconductors annually, representing a significant advancement in Vietnam’s technology landscape. Additionally, the project will offer factory leasing services. The execution of the project is scheduled to take place at Hoang Mai I Industrial Park, located in Quynh Thien ward of Hoang Mai town, within the SENA jurisdiction.

This development follows a series of job postings by Runergy in Thailand, covering various roles in administration, legal, human resources, and accounting. These positions, offering salaries ranging from VND15 million to VND60 million, require proficiency in the Chinese language and a minimum diploma-level education. Runergy PV Technology, an affiliate of China’s Jiangsu Runergy New Energy Technology and a major player in the solar power industry, is expanding its presence in Vietnam. The establishment of Runergy PV Technology Vietnam on July 7 signifies the company’s commitment to research, develop, and manufacture high-efficiency solar panels and modules. Song Wen Xiang, the current CEO of Runergy PV Technology (Thailand), has been appointed as the legal representative of the newly formed entity.

Runergy’s decision to invest in the region follows an extensive survey conducted in February 2023 to identify potential investment sites, including Hoang Mai I and II industrial parks within SENA. In a meeting with Nghe An People’s Committee in March 2023, Runergy expressed satisfaction with Vietnam’s investment climate and expressed its desire to expand its operations in the country. Dao Long Trung, chairman of Runergy, also highlighted Nghe An as a promising investment destination. According to the latest data from the Foreign Investment Agency under the Ministry of Planning and Investment, Nghe An province ranks eighth nationally in terms of foreign direct investment (FDI) for H1/2023, attracting a substantial amount of $720.94 million. As of June 20, 2023, the province has attracted eight FDI projects with a registered capital of $613.15 million, as well as five additional investments totaling $107.79 million, resulting in a total registered capital of $720.94 million. Nghe An currently hosts 124 active foreign-invested projects with a total registered capital of nearly $3.3 billion, including 76 projects within the Southeast Economic Zone and other industrial parks in the province with a combined registered investment capital of $2.95 billion, as well as 48 projects outside the Southeast Economic Zone with a registered capital of $334.45 million.