Power demand in Vietnam has increased by 10% per annum, which has required the country to use clean energy technologies, including rooftop solar power, to maintain high economic growth.
The Ministry of Industry and Trade (MOIT) has submitted a statement to the Prime Minister on a bidding mechanism which allows purchase of electricity from solar and wind power projects which remain unfinished.
Deputy Minister of Industry and Trade Dang Hoang An has asked localities to compile the lists of wind and solar power plants in their areas.
AC Energy (ACEN), a subsidiary of Filipino billionaire Jaime Zobel de Ayala’s Ayala Corp, has agreed to buy a 49% stake in Solar NT, a unit of Thailand’s Super Energy Corp. operating in Vietnam, according to forbes.com.
Thai energy company Banpu PCL has agreed to acquire the companies holding a 50-MW portfolio of two solar parks in Vietnam in a deal worth 26.7 million USD, according to the company.
The Ministry of Industry and Trade will not add any more wind and solar power into this year's plan, due to a lack of input facilities to transfer them to the national grid.
Developing energy is a strategic task to realise the goal of industrialisation and modernisation.
Wind and solar power plants will emit huge amounts of waste of up to hundreds of thousands of tons in the next 10 years.
Visual Capitalist has listed Vietnam among the world’s top 10 for largest installed solar power capacity.
Capital flows into green growth projects have still seen positive signals despite adverse impacts from the COVID-19 pandemic on foreign direct investment (FDI) in Vietnam.
The government this month requested the Ministry of Industry and Trade to review and re-submit the Power Development Plan VIII as the scheme is geared towards speeding up establishment of a competitive electricity market.
In the most recent heat wave in northern Vietnam, electricity consumption has set "historic peaks".
As one of the fastest-developing countries in solar thanks to the current feed-in tariff, Vietnam’s billion-dollar solar panel market is mostly dominated by foreign investors and depending on imports.