Central Group, TSS will collaborate to implement net-zero solutions in Mini Go! mall network. (Photo: Central Group)
In a bid to achieve its net-zero target by 2050, Thailand's retail giant Central Group is intensifying its sustainability initiatives in Vietnam. This includes the expansion of rooftop solar installations and efforts to reduce energy consumption, aimed at mitigating the impact of Vietnam's unstable power supply.
Central, TSS introduce solar energy solutions for retailers
On October 18, Central Group signed a memorandum of understanding with Tona Syntegra Solar (TSS) to implement solar energy solutions across all "Mini Go!" supermarkets in Dong Nai province. The project will encompass the installation of rooftop solar systems, solar carports, energy storage systems, and electric forklifts, with an estimated annual reduction of 373 tons of CO2 emissions—equivalent to planting 5,595 trees.
Olivier Langlet, CEO of Central Group Vietnam, stated that the partnership with TSS will accelerate their path to net zero and lay the groundwork for future, including the installation of electric vehicle charging stations and electric trucks, thereby contributing to a greener supply chain. Previously, Central Group had already integrated rooftop solar solutions in its large shopping malls in Vietnam.
According to the International Energy Agency (IEA), Vietnam has the fastest-growing electricity demand in Southeast Asia, second only to India. However, last year's drought significantly impacted hydroelectric power generation, resulting in widespread blackouts in northern Vietnam and affecting major companies like Samsung. As the world's second-largest solar panel manufacturer, Vietnam is striving to avoid a power crisis amid rising electricity needs.
Central Group's impact on Vietnam's retail landscape
Central Group is recognized as a leader in Southeast Asia's retail sector, ranking the top two in the ASEAN 500 by Forbes. The company operates 648 department and specialty stores, as well as 766 supermarkets and hypermarkets across Thailand and three other countries, totaling 1,869 outlets.
As one of the largest operators of shopping malls and hypermarkets in Vietnam, Central Group has transformed local shopping habits, shifting consumer preferences from traditional markets to modern supermarkets. The company's investment locations have expanded beyond major cities, enhancing the visibility of Thai enterprises in the Vietnamese market. Central Group's brands in Vietnam include the Mini Go! supermarkets, Tops Market hypermarkets, and the Nguyen Kim electronics chain.
Thailand stands as Vietnam's largest trade partner in Southeast Asia, especially amidst the ongoing supply chain shifts from China. Companies like Kasikornbank and WHA have found opportunities to expand their industrial parks in Vietnam. However, the country still relies heavily on coal and natural gas as primary energy sources, with a goal of achieving net zero by 2050.
Source: Nikkei Asia、Vietnam Investment Review、Central Retail
