Owned by the Red Sun Energy Joint Stock Company (RedSun), the factory is expected to soon market its solar panels 30-40 percent cheaper than similar imported products.

RedSun, which is a joint initiative between Ho Chi Minh City and the Rhone-Alpes region of France, intends to lay the foundations for the Vietnamese solar cell industry.

Its General Director Diep Bao Canh said their solar panels can produce 80Wp-165Wp of power with a life expectancy of 25 years.

From 2009-2010, the factory will make products that can generate 5MWp or 4 million kWh of electricity a year. In the 2nd phase, the factory will raise its capacity to produce panels that are able to produce 25MWp a year, with some of the raw materials available domestically.

Nearly 40 percent of the panels will be sold on the home market while the remaining will be exported.  Besides, RedSun also manufactures LED bulbs and traffic lights using solar panels and designs, and produces or assembles other energy saving products like solar water heating systems and compact fluorescent lamps.