Vietnam energy news coverage is extensive. This is in large part due to a growing thirst for energy to support the Vietnamese economy’s rapid growth. In particular, renewable energy has become an important topic as the country aims to be net-zero by 2050. This section monitors Vietnam energy news including renewable energy, the electricity supply, and key energy regulations.

Can Vietnam Ever Quit Coal?

Mark Barnes September 10, 2024

At the Conference of Parties in Glasgow in 2021, Vietnam committed to reducing its carbon emissions to net-zero by 2050 a big part of which was reducing the burgeoning Southeast Asian nation’s dependence on coal. Three years on, however, and Vietnam’s de-coalification appears to have stalled with coal power and coal imports both on the rise. So what’s changed? Why has it changed? And what might happen next?

New central Vietnam coal power plant set for trial run next month

the-shiv September 4, 2024

This comes amidst uncertainty around Vietnam’s net-zero commitment made at the 26th Conference of Parties on the back of a Just Energy Transition Partnership agreement for US$15.5 billion that has been struggling to gain legs…

Electricity in Vietnam for Foreign Investors 2024

the-shiv September 4, 2024

When it comes to electricity in Vietnam, whether a company is using it or producing it, there are a lot of nuances that foreign investors should be aware of. This cheat sheet runs through a brief overview of how the industry and the market operate.

REE Corporation: Vietnam Stock Overview

Huong Nguyen September 4, 2024

In the first half of 2024, REE’s revenue reached US$161.5 million, down 11.5 percent year-on-year. This is partly due to the El Niño phenomenon which has seen drought-conditions in parts of Vietnam, reducing water in hydropower catchments. Additionally, a government policy prioritizing coal-fired thermal power plants to conserve water during the dry season has limited hydropower’s participation in the electricity market…

Gelex Electric: Vietnam Stock Overview

Huong Nguyen August 28, 2024

Of note, in August 2024, 300 million shares in Gelex Electric were officially listed on the Ho Chi Minh Stock Exchange under the ticker GEE. Previously, the stock had been traded on the Unlisted Public Company Market…

Norway off-shore wind developer to exit Vietnam on regulatory delays

the-shiv August 24, 2024

The potential for offshore wind in Vietnam has been well documented and plans to introduce six gigawatts by 2030 were detailed in the Power Development Plan 8. There are, however, a number of key challenges facing any sort or practical application, in particular the conflicting interests among several of Vietnam’s key ministries with respect to Vietnam’s Marine Spatial Plan.

Low electricity prices in Vietnam see industry eschew electricity conservation: EVN exec

the-shiv August 20, 2024

Of note, retail electricity prices in Vietnam are regulated and price rises are not all that common and this has led to power often being sold at below cost price. This has then had a carry over effect in that investment by the state power provider into more power generation and grid infrastructure has been insufficient resulting in power shortages that were estimated to have cost Vietnam’s economy US$1.4 billion last year.

State power firm looks to Vietnam Dev. Bank after commercial bank loan limit reached

the-shiv August 13, 2024

Vietnam’s state power provider Electricity Vietnam or EVN has reached an agreement with the Vietnam Development Bank for US$2 billion to build more power generation and transmission lines. The agreement was arranged on the back of borrowing limits with commercial banks being reached and challenges accessing foreign capital…

Binh Dinh officials push to include German firm in Vietnam offshore wind pilot

the-shiv August 10, 2024

Officials in Binh Dinh are pushing for the Ministry of Industry and Trade to include at least part of an offshore wind farm proposed by Germany’s PNE Group in a pilot offshore wind power project being developed. The full plan is for a US$4.6 billion investment that will generate 2,000

Deputy PM pushes for greater grid feed-in allowances for rooftop solar

the-shiv July 28, 2024

Of note, originally the MoIT had been pushing for no feed-in tariffs on rooftop solar. It had then, at the request of the government, reluctantly agreed to have feed-in tariffs–paid at about 2.6 cents per kilowatt-hour–but limited to just ten percent of the installation’s capacity. This is off the back of past rooftop solar policies causing broad challenges for Vietnam’s electricity sector…

Vietnamese conglomerate kicks off construction of waste-to-energy plant in HCMC

the-shiv July 24, 2024

Of note, Vietnam currently has 15 waste-to-energy plants under construction. However, only three facilities are operational, processing approximately 10 percent of the country’s total waste. The country discharges roughly 60,000 tons of household waste daily, with an average annual increase of 6 percent projected between 2021 and 2030…

Offshore wind in Vietnam should to be developed by state first: MoIT

the-shiv July 23, 2024

Of note, the Power Development Plan 8–known in short as the PDP8–that was approved last year, was embedded with a target of six gigawatts of offshore wind power by 2030. The implementation plan for the PDP8 released earlier this year, however, did not list a single offshore wind power project…

Vietnam state power provider reports first half loss of US$513 million

the-shiv July 19, 2024

Of note, retail electricity prices in Vietnam are regulated and, though permitted, price rises are not all that common. This has led to EVN selling electricity below cost price. As of January, it was losing about VND 142.5 per kilowatt-hour sold. This has been ongoing for some time and has led to EVN accumulating the huge aforementioned losses. The issue here seems to be a reluctance to raise electricity prices rather than an inability to do so…

Vietnam’s New Direct Power Purchases Decree: Unpacked

Mark Barnes July 17, 2024

Last week, Vietnam issued Decree 80 creating a mechanism by which private enterprises and power generators can enter into direct power purchase agreements or DPPAs. Exactly how impactful this decree might be, however, is difficult to determine at this early stage with a lot of moving parts and a number of obstacles to be overcome. This article breaks down and puts into context the key components of this new piece of legislation.

Vietnamese seafood-solar firm to invest in Mekong Delta wind energy

the-shiv July 17, 2024

Notably, the renewable energy segment is a relatively new growth driver for Sao Mai–Sao Mai only started investing in renewable energy in 2017 when it established Sao Mai Solar. Currently, the firm operates the An Hao Solar Power Plant with a 210-megawatt peak capacity and Europlast Long An Solar Power Plant with a 50-megawatt peak capacity. These projects contribute about 5 percent of Sao Mai’s revenue, however, they account for 20 percent of the firm’s gross profit…

Vietnam considering 2.6 cent feed-in-tariff for excess rooftop solar

the-shiv July 16, 2024

Notably, in 2017, to encourage renewable energy, the government implemented a mechanism to buy excess rooftop solar power at a preferential feed-in tariff price of 9.35 cents per kilowatt hour. This policy led to a significant increase in investments in rooftop solar power systems and subsequently ended in late 2020 due to concerns about uncontrolled growth of rooftop solar power sources. This rapid expansion caused challenges in managing the national power grid and since the beginning of 2021, the signing of rooftop solar power purchase and sale contracts has been paused…

Vietnam state power provider records 2023 loss of more than US$1 billion

the-shiv July 11, 2024

Vietnam shelves new coal power plant in southern Vietnam

the-shiv July 6, 2024

Of note, it was announced at the beginning of June that Toyo had managed to secure a US$980 million loan from Exim Bank. This announcement, however, was met with some concern on account of the fact that Vietnam has signed up to a Just Energy Partnership Agreement worth US$15.5 billion to be used to reduce its dependence on coal…

Vietnam issues a decree on direct power purchase agreements

the-shiv July 4, 2024

Vietnam has issued a decree on Direct Power Purchase Agreements–or DPPAs– clearing the way for businesses to buy power directly from power generators. The decree has been a long time coming and has been touted as a critical component to developing Vietnam’s electricity network. Per the decree, high volume power

South Korean minister offers Vietnam support on nuclear energy

the-shiv July 2, 2024

Nuclear power for Vietnam has been raised again, this time by the South Korean Minister of Trade, Industry, and Energy Ahn Duk-geun, and a Vietnam-South Korea business forum in Seoul. The minister has suggested that South Korea could provide support for Vietnam should it choose to pursue it…