Of the 110 foreign direct investment (FDI) projects Vietnam has attracted in the field of electricity and gas production, 16 are in green energy, with total registered capital of $778 million, accounting for 14.5 per cent of project numbers and 6 per cent of total registered capital, according to the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.

The average size of each green energy project is over $48 million, or $13 million higher than the average for each FDI project, but much lower than the size of the average capital for a project in the electricity industry, of about $115 million.

In 2009, there were two FDI projects in the energy industry, with total registered capital of $90.5 million. 

FDI in the field fell in 2013 then increased gradually in 2014. In 2015, registered capital stood at over $356 million.

In terms of project scale, wind-generation power attracted the most attention among foreign investors, with total registered capital of $577 million, accounting for 74 per cent of capital in the green energy sector. 

Following was solar power, with capital of $137.38 million, or 18 per cent, and biomass power generation, with capital of $59.2 million, or 8 per cent.

“Although Vietnam has attracted a number of green energy projects, it is still not commensurate with its potential and strength,” the FIA noted.

Nine countries have invested in green energy FDI projects in Vietnam: South Korea, Germany, France, India, the US, Singapore, Russia, Belgium, and China.

South Korean investors led the way, with total registered capital of over $371 million, accounting for 48 per cent of the total. Germany followed, with $226.68 million, or 29.3 per cent, then French, Indian, and US investors with capital of $77.12 million, $59.22 million, and $26 million, respectively.

VN Economic Times