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renewable energy news
The Renewable Energy category covers solar, wind, hydro, and alternative energy developments. It explores investment in green technologies, government incentives, sustainability efforts, and industry innovations, providing insights into market demand, infrastructure expansion, and policy frameworks shaping the renewable energy sector.
South Korea’s OCI expands solar wafer production in Vietnam through US$78 million acquisition
South Korea’s OCI Holdings, through its subsidiary OCI TerraSus, has acquired a 65 percent stake in Elite Solar Power Wafer, a company constructing a 2.7GW solar wafer plant in Vietnam, according to an announcement from the group.
Energy: Vietnam’s Petrovietnam, Denmark’s CIP sign US$10.5 billion offshore wind agreement
Petrovietnam and Copenhagen Infrastructure Partners (CIP) have signed a Joint Development Agreement (JDA) to develop the 3.5 GW La Gan offshore wind project in Binh Thuan (now part of Lam Dong), with an estimated investment of US$10.5 billion, The Investor has reported.
Renewables: Vietnam rooftop solar regulatory overhaul to unlock Vietnam’s green growth: YKVN’s Mazur
Vietnam’s 2025 rooftop solar (RTS) regulatory overhaul offers a clear, bankable path for investors, according to Eli Mazur, partner at YKVN and a leading expert on Vietnam’s energy and FDI legal framework.
Energy: Germany’s GEO Group to invest US$50 million in Vietnam renewable energy training hub
Germany’s GEO Group will invest US$50 million to develop a renewable energy workforce training and development centre in Binh Dinh province, in south-central Vietnam, The Investor has reported.
Energy: Investors allege Vietnam solar, wind subsidies cut without consent: Reuters
Vietnam’s state utility EVN has retroactively reduced previously agreed feed-in tariffs (FiTs) for some solar and wind projects, an investors’ petition seen by Reuters has alleged. A subsidiary of EVN has reportedly been calculating payments based on an FiT lower than what was originally agreed.
Renewables: Vietnam’s Boviet Solar opens US$294 million solar module plant in North Carolina
Vietnamese firm Boviet Solar has opened its first US manufacturing facility in Greenville, North Carolina, with an investment of US$294 million. The plant will produce photovoltaic modules for residential, commercial, and utility-scale markets, Energy Tech has reported.
Electricity: Vietnam releases generation price framework for solar power
Vietnam’s Ministry of Industry and Trade has officially announced its electricity generation price framework. The Decision, effective upon signing, establishes maximum electricity generation prices (excluding VAT) for both solar power plants without and with battery storage systems, differentiated by region (North, Central, and South).
Norway off-shore wind developer to exit Vietnam on regulatory delays
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.
Offshore wind in Vietnam should to be developed by state first: MoIT
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’s New Direct Power Purchases Decree: Unpacked
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
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…
Singapore firm adds 196 MW to Vietnam renewable energy to portfolio
Of note, Vietnam ranked second in attracting FDI in renewable energy among developing economies from 2015 to 2022, according to the UN Trade and Development World Investment Report 2023. Key foreign investors in renewables in Vietnam are GE Renewable Energy, Copenhagen Infrastructure Partners, and Enterprize Energy…
Spain renewables giant looking at central provinces for Vietnam expansion
Of note, a combination of favorable climate conditions, supportive government policies, and rising demand has made Vietnam a promising market for renewable energy development in recent years. In particular, southern Vietnam has high solar irradiance and strong, consistent winds. The average annual sunshine duration in Khanh Hoa province is 2,600 hours per year, while Ninh Thuan province has the most hours of sunshine in a year, in Vietnam, reaching up to 2,800 hours…
Vietnam’s zero-VND feed-in-tariffs plan for rooftop solar dumped
The plan was issued by the Ministry of Industry and Trade and was designed to tackle the issue of over production that surfaced in Central Vietnam several years ago. Said over production, however, was more the result of projects being approved outside of the plans and policies that were in place for solar power development. Specifically, the Government Inspectorate found that the Power Development Plan 7 had set out to see 850 MW of solar power by 2020, however, a total of 168 solar projects with a total capacity of 14,707 MW were approved in that time…
Vietnam’s collective decision-making weighs on offshore wind power development
The Ministry of Industry and Trade–the MoIT–has said it is unlikely that Vietnam will meet its offshore wind power target of six gigawatts by 2030, The Leader is reporting. Essentially, the MoIT is acknowledging that with all of the various departments and ministries that need to coordinate to make offshore
Vietnam coal power profits surge, but renewables, gas struggle
Coal power plants in Vietnam are reporting bumper profit increases of up to 1,424 percent on the back of poor weather conditions dampening hydropower outputs, Tuoi Tre is reporting. It also states that gas power projects have also not fared well, saying this was due to reduced outputs and lower
Offshore wind in Vietnam unlikely before 2028
The Investor is covering the Global Wind Energy Council’s Global Wind Report 2024, which says Vietnam will not have offshore wind power before 2028. The report cites the underdevelopment of Vietnam’s grid and regulatory gaps as key challenges facing offshore wind development in Vietnam. Of note, Vietnam’s Power Development Plan
Vietnam’s MoIT backflips on removal of feed-in tariffs for rooftop solar
In December, Vietnam’s Ministry of Industry and Trade–the MoIT–circulated a dossier that suggested a draft decree on rooftop solar should have no feed-in-tariffs. However, it has now been reported by Zing News that there has been a reversal of this position with a ‘time-based’ price suggested though it’s not made
Vietnam looking to import wind power from Laos on lower prices
Vietnam is considering importing wind power from Laos because it’s cheaper, Tuoi Tre is reporting. One project in Laos is offering electricity at 7 cents per kilowatt hour whereas wind power projects in Vietnam that were online before November 1, 2021 receive 9.8 cents per kilowatt hour per a renewable
Vietnam draft solar decree no feed-in-tariffs sends ‘negative signal’
A draft decree from Vietnam’s Ministry of Industry and Trade addressing rooftop solar says excess electricity can be fed into the grid but will not be paid for, has been met with some concerns, PV Magazine is reporting. The publication quotes solar analyst, Moritz Stitcher as saying “it sends another