EVIDA to power Vietnam with LYS Energy Renewable Energy Certificates

Evida to power Vietnam’s transportation with LYS Energy Group’s Renewable Energy Certificates (RECs)

EVIDA to power Vietnam with LYS Energy Renewable Energy Certificates

September 10, 2021

Nurani T.

Vietnam is among the fastest-growing countries in the Southeast Asia region. With the rapid urbanization, the pressure especially in cities to protect the environment and to come up with smart ways of living increases significantly. EVIDA is an innovative start-up with the vision of proactively driving the adoption of electric vehicles (EVs) in Vietnam to support a more sustainable and cleaner transportation system.

 

EBOOST as smart and green charging infrastructure 

Founded in 2019, the company started with the first SWISS-engineered and high-performing electric bike brand EVIDA. Even though electric motorbikes are recognized as green vehicles that produce no CO2 during travel, the need for daily electricity may still emit CO2 emissions depending on the used source. This has always been a concern of Stefan Kaufmann – CEO/ founder of the company: “The idea of complete green mobility has been in my mind from the very beginning. Besides the production of the batteries itself, another big challenge is the electricity charging of those in our everyday lives. Therefore, not only we wanted to address the actual charging demand with a smart solution called EBOOST, but we also strive to its best possible extent in making it totally green over time. By that, EBOOST will ensure that all our users experience a total green charging powered by renewable energy sources”. In 2020, EBOOST smart charging solutions have been developed to meet the increasing demand for EVs-related charging infrastructure in Ho Chi Minh city and entire Vietnam. It is known as the first smart and universal charging service for electric vehicles.

To strive for this ambition of cleaner energy, EBOOST has collaborated with LYS Energy Group, the leading Singapore home-grown solar independent power producer, to acquire and retire Renewable Energy Certificates (RECs). By purchasing RECs, EBOOST shall meet its 2021 and beyond renewable energy targets and offset the carbon emissions equivalent to the electricity used to charge the electric vehicles. As one of the pioneering organizations to provide EV-charging solutions at premises, EBOOST stays ahead of the curve, leading the industry by lowering the carbon footprint of the green mobility means in Vietnam.

 

Towards decarbonized electric mobility powered by renewable energy

Research confirms that EVs are much cleaner than conventional cars fuelled by internal gas-combustion as they don’t directly produce any local emissions. However, Evs actual carbon footprint depends on the country’s grid’s energy-mix. Although Vietnam is actively encouraging the uptake of the clean energy transition, it won’t be a walk at the park until the country can rely on 100% renewable power.

While on-site direct clean electricity consumption is the main contributor to carbon emissions reduction, yet this is still extremely challenging for various reasons. This is where the RECs play a critical role in providing companies an instrument to support both clean energy generation and carbon footprint reduction targets.

Since 2016, LYS Energy Group (LYS) has worked closely with companies to tailor and deploy innovative solutions to integrate offsetting instruments into their energy transition agenda. LYS provides and manages stand-alone RECs that see fit with businesses' electricity consumption and needs, generated from its own renewable energy assets across Southeast Asia, including Vietnam.

One REC represents the intangible or non-power environmental attributes that are equivalent to one megawatt-hour of renewable electricity generated from an eligible renewable power plant. By purchasing RECs, EBOOST is enabled to claim the environmental benefits related to clean energy generation. EBOOST has chosen RECs as the most reliable solution to meet their clean energy transition targets and consequently, their Scope-2 greenhouse gas emissions reduction efforts.

 

Playing our part to tackle climate change with clean energy adoption

LYS’s nature of business intrinsically responds to the UN’s call for a decade of action to protect the planet against global warming. The Group will leverage the power of the community to contribute to the global sustainable development goals (SDGs). We recognize the importance of the 17 interconnected SDGs, and collectively with our eco-system, we have identified two priority focus areas for which we believe renewable energy transition could make meaningful contributions through community development initiatives – Affordable and Clean Energy (SDG 7) Climate Action (SDG 13).