Press Releases Archives - VPower Group Fast Track Distributed Power Generation

VPower Group Honoured “2018 Hong Kong Awards for Industries: Upgrading and Transformation Grand Award”

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Mr. Samson Lam, Executive Chairman of VPower Group (Second from the left, back row) and other awardees, took photo with officiating guests of the “2018 Hong Kong Awards for Industries” Awards Presentation Ceremony, including Mrs Carrie Lam, Chief Executive of the HKSAR.
 

VPower Group International Holdings Limited (“VPower Group” or the “Group”, stock code: 1608.HK), a leading distributed power generation station owner and operator in Southeast Asia, is honoured with the “2018 Hong Kong Awards for Industries: Upgrading and Transformation Grand Award” by the Hong Kong Young Industrialists Council in recognition of its distinguished ability and achievements in business upgrading in the ever-changing market. The awards presentation ceremony officiated by Mrs Carrie Lam, Chief Executive of the HKSAR, was held at Hong Kong Science Park on 11 December 2018.

As a world-renowned power generation system integration (SI) provider, VPower discerned the global advancement towards green future and entered into the distributed power generation market in 2012 by investing in, building and operating distributed power stations (i.e. IBO business) in Southeast Asia. Armed with strong management capabilities, industry expertise and extensive business network, the Group’s IBO business has grown rapidly, making it a major owner and operator of distributed power stations in Southeast Asia. Currently, the Group owns more than 10 distributed power stations globally.

Mr. Samson Lam, Executive Chairman of VPower Group, expressed his heartfelt gratitude to the organiser and the judging panel for their acknowledgement and said, “We are incredibly pleased to receive such honour, which is a supreme recognition of our continuous effort to strive for improvements and the achievements we have made over the years. Since we started IBO business in 2012, we have strategically focused on regions along the Belt and Road Initiative in order to underpin local economies and improve local residents’ livelihood with our fast-track distributed power solutions. Recently, we have stepped up expanding our business footprint in the Latin America and Europe to support their energy transition. Upon the completion of business upgrading and transforming, we continue to upgrade our power solutions and introduce more advanced systems. Progress we have made includes launching our first biogas project which equips with combined heat and power system in China this year and incorporating Organic Rankine Cycle (ORC) technology into a soon-to-be-completed new project in Myanmar to enhance energy efficiency. Our diversified projects portfolio and business network not only strengthen our industry position, but also support our ambitious business development plan fulfilling our mission to become a global leader. Looking ahead, the Group will continue creating best values for our stakeholders while embracing our corporate sustainability and social responsibility.”

At the full support of the HKSAR Government, the Hong Kong Awards for Industries was launched in 2005, by merging the former Hong Kong Awards for Industry and Hong Kong Awards for Services, established in 1989 and 1997 respectively. It aims to recognise the outstanding performance and achievements of Hong Kong enterprises in enhancing their competitiveness in various aspects. The Hong Kong Awards for Industries comprises seven categories, among which the Upgrading and Transformation category is organised by the Hong Kong Young Industrialists Council, with the objective of encouraging and recognising those enterprises that have reformed their core business to adapt to the ever-changing market and business environment through participating in the upgrading and transformation programme so as to continuously enhance the competitiveness of Hong Kong enterprises, and affirming the importance of upgrading and transformation to the industrial sector as well as Hong Kong’s economy.

 

About VPower Group International Holdings Limited

Headquartered in Hong Kong, VPower Group is an integrated expert in distributed power generation (DPG). It is principally engaged in the power system integration (SI) business, in which the Group designs, integrates and sells gas-fired and diesel-fired engine-based gen-sets and power generation systems and Investment, Building and Operating (IBO) business, in which the Group invests in, builds, leases and operates distributed power stations to supply reliable electricity. It is one of the world’s leading large gen-set system integration providers, and Southeast Asia’s largest private gas-fired engine-based distributed power generation station owner and operator […]

Myingyan II Project Agreement Signed Confirming the Group’s first power generation project with ORC technology

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Myanmar’s Union Minister for Ministry of Electricity and Energy and Union Minister for Ministry of Commerce attended the signing ceremony

VPower Group International Holdings Limited (“VPower Group” or the “Group”, stock code: 1608.HK), a leading DPG station owner and operator in Southeast Asia, is pleased to announce that the Group and Electric Power Generation Enterprise, Ministry of Electricity and Energy of the Government of Myanmar entered into the power purchase agreement for the purchase of electricity and power generation of a 90MW gas engine power plant in Myingyan, Myanmar (the “Project”) with a term of 60 months from the commercial operation date (which may be extended by agreement) today. The Group plans to build the power plant with an installed capacity of 109.7MW and expects that the Project will commence commercial operation in February 2019. It will be the first time for the Group to install Organic Rankine Cycle (“ORC”) system for residual heat to power conversion for the Project, with an aim to enhance the energy efficiency and reduce energy cost.

The contract signing ceremony was held today in Nay Pyi Taw, Myanmar. The Group is honored to have His Excellency U Win Khaing, Union Minister for Ministry of Electricity and Energy of Myanmar (“MoEE”), His Excellency Dr Than Myint, Union Minister for Ministry of Commerce of Myanmar, representatives from Hong Kong Trade Development Council and other distinguishable guests attending the ceremony. Speaking at the ceremony, His Excellency U Win Khaing said, “As the electricity demand of Myanmar is increasing very fast, MoEE has laid down its policy to fulfil the electricity demand of the country by implementing medium-term and long-term plans.” “VPower Group has been helping Myanmar in its power needs since 2015. We are looking forward to future cooperation with VPower Group.” He added.

Mr. Rorce Au-Yeung, Co-Chief Executive Officer of the Group commented, “We are excited to sign the agreement with the Myanmar government for our fourth IBO project in Myanmar. It is always delightful to make our contribution and support the development of Myanmar, a fast-growing country along the Belt and Road Initiative of China, by supplying reliable and stable electricity and offering employment opportunities. As a leading DPG solution provider, we are committed to advancing our power solutions and exploring new technologies in pursuit of higher energy efficiency and lower carbon emission. Applying ORC technology in our solution for the Myingyan II project represents a new page in our technological advancement. We look forward to providing more advanced and environmentally-friendly solutions for our customers.”

 

About VPower Group International Holdings Limited

Headquartered in Hong Kong, VPower Group is an integrated expert in distributed power generation (DPG). It is principally engaged in the power system integration (SI) business, in which the Group designs, integrates and sells gas-fired and diesel-fired engine-based gen-sets and power generation systems and Investment, Building and Operating (IBO) business, in which the Group invests in, builds, leases and operates distributed power stations to supply reliable electricity. It is one of the world’s leading large gen-set system integration providers, and Southeast Asia’s largest private gas-fired engine-based distributed power generation station owner and operator […]

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