Off-grid solar-powered containerized oil platform in Vietnam

Why is solar power important in Vietnam?

As Vietnam continues its rapid economic development, the demand for sustainable and reliable energy sources has never been more critical. Solar power has emerged as a key component of Vietnam’s strategy to diversify its energy portfolio and reduce its carbon footprint.

Why should Vietnam invest in rooftop solar?

It will support the development of over 260MWp of rooftop solar projects. This investment addresses a critical need, as coal-fired power still accounts for 45 per cent of Vietnam’s energy supply. The project will contribute to the country’s goal of increasing renewable energy share to c. 40 per cent by 2030.

Why should investors invest in solar power in Vietnam?

The evolution of Vietnam’s regulatory framework, designed to stimulate the growth of solar power in the country, align with national sustainability goals, and enhance energy security through the diversification of renewable energy sources, is a promising sign for investors looking to do business in this space.

How much solar energy does Vietnam need?

According to the government’s Power Development Plan 8 (PDP8), Vietnam will need approximately USD135 billion to increase its electricity generation capacity by 2030. Solar energy is now an important component of the country’s strategy to address this gap.