Retroactive price cuts for some solar and wind power projects alarm investors and raise default risk PUBLISHED : 22 May 2025 at 16:35 WRITER: Reuters HANOI — Vietnam’s state power utility has cut the previously agreed subsidised price it pays for electricity from some solar and wind farms, which now risk defaulting on their debts…
Rooftop solar and other renewable power producers can now sell and renewable electric users can now purchase electricity directly through private transmission lines without having to go through Vietnam Electricity as an intermediary. Wind, biomass, micro-hydropower, geothermal, wave, and tidal energy plants are also included in the government’s decree on direct power purchase agreement (DPPA)…
Le Hong Hiep Punishment awaits the Vietnam senior officials who allowed the country’s renewable energy quest to go off the rails, despite its apparent initial success. This policy crisis has the potential to affect other economic sectors if no clear end is in sight. In late 2023, the Inspection Commission of the Central Committee of…
The Electricity of Vietnam Group (EVN) is no longer a major power producer as it has contributed only 11% of electricity to the national grid this year. According to the Electricity Regulatory Authority of Vietnam (Ministry of Industry and Trade), of the national power system’s capacity of nearly 80,000MW, state-owned enterprises including EVN, Vietnam Oil…
Vietnam has been making policy changes to open up the electricity industry to private investors, but still remains far from creating a competitive market. Until 2006 state-owned Vietnam Electricity (EVN) owned all power plants in the country, but its monopoly has been reducing since, and it now only accounts directly or indirectly for around 37.6%…
HANOI, July 17 (Reuters) – Vietnam received its first shipment of liquefied natural gas (LNG) this month, a milestone for the energy-hungry country, but various hurdles mean it could take years for imported gas to ease the country’s long-running power shortages. Disagreement over pricing, plant construction delays and lack of supply contracts are dogging the…
HANOI, May 16 (Reuters) – The prime minister of Vietnam approved a long-awaited power plan for this decade that needs $134.7 billion of funding for new power plants and grids, the government said late on Monday, in a move that may help unlock billions of dollars of foreign investment. The Vietnam power plan, known as…
Hanoi (VNA) – The Cambodia government on April 7 approved the construction of five renewable energy power plants with a total capacity of 520 megawatts. According to spokesman of the Cambodian government Phay Siphan, the approval was made during a meeting of the Council of Ministers chaired by Prime Minister Samdech Techo Hun Sen. Phay…
By DANSON CHEONG Monday, 16 Jan 2023 3:41 PM A wind power project in China’s Hebei province. China has begun building the world’s largest floating wind farm off the coast of Hainan.- SEMBCORP INDUSTRIES BEIJING (The Straits Times/Asia News Network): China is building the world’s largest commercial floating offshore wind farm off the coast of…
Nguyen Hung Dien, Minister of Industry and Trade of Vietnam, established the new framework for electricity prices for transitional solar as well as wind power projects. The ceiling price for electricity generation (excluding value-added taxes) is VND1,184.90/kWh for ground solar power plants and VND1,508.27/kWh for floating solar power plants. For the onshore wind power plants,…
The Vietnam government is reportedly concerned about legal action from solar investors if its new power development plan does not prove ambitious enough. Vietnam’s latest draft energy plan prepares for 8.7 GW of new solar between 2021 and 2030, but the Vietnam Ministry of Industry and Trade is reportedly fearful of legal action by solar…
After a renewables frenzy, Vietnam’s solar energy goes to waste in many provinces without enough transmission capacity. For up to 12 days every month, Tran Nhu Anh Kiet, a supermarket manager in Vietnam’s Ninh Thuan province, is forced to turn off his solar panels during the most lucrative peak sunshine hours. “I’m losing on average…
The government has agreed in principle to a 1,400MW hydropower dam in Stung Treng province to be built jointly by local conglomerate Royal Group of Companies Ltd and China (Cambodia) Rich International Co Ltd. According to a letter from Royal Group of Companies chairman Kith Meng to Stung Treng provincial governor Svay Sam Eang obtained…
By Anh Minh February 27, 2022 | 04:22 pm GMT+7 A worker cleans solar power panels in Vietnam’s central Ninh Thuan Province in 2019. Photo by VnExpress/Quynh Tran The solar power capacity planned by Vietnam for 2031-2045 is “too high” should be cut to give space for wind power, the government says. In a communiqué…
23/02/2022 08:03 GMT+7 A leader of Japan’s power producer EREX said the corporation is seeking to invest in biomass power in Vietnam, which holds great potential for biomass power development. Honda Hitoshi (R), chairman and general director of EREX, at a meeting with Vietnamese Minister of Industry and Trade Nguyen Hong Dien. – Photo:…
The Vietnam Ministry of Industry and Trade will not add any more wind and solar power into this year’s 2022 plan, due to a lack of input facilities to transfer them to the national grid. At the 2021 review meeting of the National Load Dispatch Centre on January 10, its deputy director Nguyen Quoc Trung…
After adding 3,420 megawatts of power capacity last year, Vietnam now leads Southeast Asia in power production with 76,620 MW. The increase in power production represented a 9.8 percent increase in capacity, CEO of national utility Vietnam Electricity (EVN), Tran Dinh Nhan, said at a forum Friday. He however expressed concern that 27 percent of…
Hanoi (VNA) – Forty-two out of 106 wind power plans registering for commercial operation received Commercial Operation Date (COD) acceptance as of October 29, according to the Electricity of Vietnam (EVN). According to the EVN, the 42 plans have total capacity of over 2,131 MW. It said that the 106 wind power plants have a…
Cambodia will add 495MW of solar power capacity from seven projects by 2023, which will represent “20 per cent” of the total energy supply by then, as the world looks to harness the sun as a key source of renewable electric power in the fight against climate change, according to a senior energy official on…
SP Group (SP) and BCG Energy, a wholly-owned subsidiary of Bamboo Capital JSC, have formalised a joint venture (JV) to invest in rooftop solar and other renewable energy projects in Vietnam. In a press statement on Monday, SP said that it will own 49 per cent of the Vietnam JV, while the wholly-owned subsidiary of…
Prime Road Alternative (Cambodia) Co Ltd will soon break ground on a 60MW solar power farm in southwestern Kampong Chhnang province valued at $37.4 million. Provincial Department of Mines and Energy director Uk Ros told The Post on July 28 that the project would be built over a year and a half in Teuk Phos…
Through a period of economic volatility, investment trusts have proven their attraction to investors. Investment trusts are reaping the rewards from interest in alternative assets, ESG and EM. They have out-performed alternative options such as open-ended funds over recent years, and their structural strength has been clearly demonstrated in the face of Covid-19. Indeed, investment…
A floating solar power farm covering an area of 45ha was unveiled in Singapore on July 14, becoming one of the largest of its kind in the world. With 122,000 panels on Tengeh Reservoir, this is the city-state’s most ambitious project, built by the energy and urban development company Sembcorp Industries with support from the…
Russian state-owned oil and gas producer Zarubezhneft and Belgian marine contractor DEME Offshore have set their sights on construction of a 1 gigawatt wind farm offshore Vietnam after signing of a pact this week. The Russian and Vietnam pair signed a memorandum of understanding covering the proposed Vinh Phong wind farm project, which Zarubezhneft said…
SET-listed Gunkul Engineering, a renewable energy developer and builder, is allocating capital spending worth almost 2 billion baht to develop a new cannabis plantation and cannabis oil production facility over the next two years. “We want to take advantage of the state’s policy that delists marijuana and hemp from the narcotics category to earn extra…
It is likely that Vietnam will have to reduce renewable energy sources in the next five years, as booming development in recent years was weighing on the power system, according to a recent report by the Institute of Energy. The report showed that Vietnam’s power system had a total power generation capacity of around 69…
The loan forms part of a $173 million Vietnam green loan wind power project financing package arranged and syndicated by ADB as mandated lead arranger and bookrunner. The Asian Development Bank (ADB) signed a $116 million green loan with Lien Lap Wind Power Joint Stock Company (Lien Lap), Phong Huy Wind Power Joint Stock Company…
IFC is providing $57 million to Thuan Binh Wind Power Joint Stock Company (TBW), a subsidiary of Refrigeration Electrical Engineering Corporation (REE). This will enable the construction of two onshore wind power plants, including Phu Lac 2 in Binh Thuan province and Loi Hai 2 in Ninh Thuan province with a total capacity of 54.2MW….
Singaporean utility company SP Group has signed a memorandum of understanding with BCG Energy, a holding subsidiary of Vietnamese investor Bamboo Capital, to support the development of new renewable energy projects in the country. As part of the deal, SP will be able to acquire a 49% stake in BCG Energy’s subsidiary, Skylar Joint Stock…
French-owned The Blue Circle’s 80MW wind power investment project in Kampot province has hit an impasse, as its proposed $0.068 per kWh tariff rate for the national grid exceeds what state-run energy supplier Electricite du Cambodge (EdC) is willing to pay, according to a Ministry of Mines and Energy senior official. The Blue Circle specialises…
Japan’s Mitsubishi HC Capital Inc (TYO:8593) announced today that a subsidiary has completed the acquisition of a 35.1% stake in a 152-MW wind farm in Vietnam, thus entering the local market. More specifically, Hitachi Sustainable Energy Ltd has purchased shares in Trung Nam Wind Power Joint Stock Company (TNWP), which holds the wind farm, for…
Southeast Asia Clean Energy Facility (SEACEF) is a collaboration between leading international foundations, including Microsoft, that seeks to accelerate the low carbon transition in Southeast Asia. The goal of SEACEF is to catalyze the move away from traditional fossil and thermal energy projects. The floating solar and storage peaking plant has a target capacity of…
Hong Lai Huat Group’s subsidiary HLH Agriculture (Cambodia) Co. has entered into a non-binding memorandum of understanding (MOU) with China Machinery Engineering Corporation (CMEC) for a solar farm project in Cambodia. Pursuant to the MOU, Hong Lai Huat and Hong Kong-listed CMEC will form a special purpose vehicle (SPV) to develop and operate a 200…
NINH THUẬN — Trung Nam Group inaugurated the last phase of its wind farm yesterday in the central province of Ninh Thuận’s Thuận Bắc district, making the 152 MW farm the largest in Việt Nam. The finished wind farm worth VNĐ4 trillion (US$172.4 million) would produce 423 million kWh of electricity per year. Combined with…
Once again Vietnam has set another local record in its solar sector. This time it is for rooftop solar installation. At the end of 2020, the country’s rooftop solar installations added 9.3 gigawatts (GW) to its national grid. Vietnam outdid itself with a new record by creating an eight-fold increase in rooftop solar by the…
Vietnam is set to cut up to 1.74 billion kilowatt-hours of renewable energy in the second half this year to deal with national grid overload. A plan proposed by the National Load Dispatch Center (NLDC), under the national utility Vietnam Electricity (EVN) intends to cut 180 million kilowatt-hours per month in the third quarter and…
Low power demand coupled with oversupply of electricity at times have forced authorities to cut the capacity of renewable energy plants in order to avoid overwhelming the national grid, according to the Ministry of Industry and Trade (MoIT). A large amount of investments from social resources has been poured into developing renewable energy, particularly solar…
Gunkul Engineering Plc, a key renewable energy developer and construction company, is diversifying into cannabis development and hemp-based products by turning some of its wind farms into cultivation and production facilities. The company wants to take advantage of the state policy that delists marijuana and hemp from the narcotics category to earn extra revenue as…
The Ministry of Industry and Trade (MoIT) will issue a new price mechanism for rooftop solar power this month, with prices likely to fall to below 6 US cents per kWh, according to Hoang Tien Dung, Director of the ministry’s Electricity and Renewable Energy Department. Rooftop solar power will fetch only 5.2-5.8 US cents per…
TNB Renewables, a wholly-owned subsidiary of Malaysian utility company Tenaga Nasional Berhad (TNB), will buy a 39% stake in five rooftop solar projects developed by Singapore-based Sunseap Group in Vietnam. The process will be completed by March 2021. Sunseap Group is a clean energy solutions provider in Singapore, with over 300 MW of contracted rooftop…
According to the latest Global Climate Risk Index report, published in January, Vietnam’s economy is among the most vulnerable in the world to the impacts of climate change. Another report by the UN Intergovernmental Panel on Climate Change (UNIPCC) indicates that Vietnam’s climate challenges are much greater than usually suggested. The Global Climate Risk Index report…
Vietnam plans to reduce its renewable energy output by 1.3 billion kilowatt hours (kWh) this year, with transmission capacity unable to handle the supply. An oversupply of renewable energy, especially during midday peak sun hours, and the overload on the transmission line from the central region to the north are among the biggest power management…
In 2014, the installed capacity of non-hydroelectric renewable energy in Vietnam (such as solar, wind and biomass gasification) stood at 109 megawatts (MW), about one third of one percent of the country’s total installed capacity of 34,079 MW. At the time, Vietnam’s electricity mix was dominated by hydropower (46 percent), coal (29 percent) and natural…
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, which will more than double between 2020 and 2029 to a capacity exceeding 1,500GW, Fitch Solutions forecast. As Chinese solar manufacturers have continued to expand their manufacturing bases outside China, a local…
GE Renewable Energy has secured a 27MW turbine deal in Vietnam for the Phuoc Minh wind farm in the Ninh Thuan region of the country. The contract is for the supply of eight 3MW-137 machines. A consortium of PowerChina Huadong Engineering Corporation, Henste Engineering and IPC Group will provide full engineering, procurement and construction services…
The Mekong Delta needs to develop value-added agricultural products to enter global value chains, officials have said. With an open economy, Vietnamese-made goods will face strong competition from foreign-made goods. Le Minh Hoan, Deputy Minister of Agriculture and Rural Development, pointed out that application of scientific and technological advances in agricultural production are needed to create…
Vietnam has risen five places to 34th out of 40 economies in a global ranking of attractiveness in terms of renewable energy investment. With an average score of 50.1, the country fared better than Thailand at 38th but poorer than the rest of its neighbors, according to the Renewable Energy Country Attractiveness Index released Wednesday…
Vietnam has now effectively overtaken Thailand as the largest solar market in Southeast Asia in terms of installed solar operational capacity, with more than 6,314 MW installed up to September 2020. However, its solar (and other renewable energy) M&A activity has developed very slowly to date. There are many reasons to expect that this is…
Having contained the COVID-19 pandemic, Vietnam is becoming the first developing country to adopt carbon pricing in the post-pandemic period to help guide a cleaner recovery. On 17 November, Vietnam’s National Assembly passed the revised Law on Environmental Protection legalising an emission trading scheme. The law will take effect on 1 January 2022. This policy…
Vietnam has completed an updated Nationally Determined Contribution (NDC) with plans to reduce total greenhouse gas emissions 9 percent by 2030 in an attempt to respond to climate change. Tang The Cuong, Director of the Ministry of Natural Resources and Environment’s Department of Climate Change, said Vietnam had completed the updated NDC despite complications caused…
The Vietnamese renewables industry has been flourishing lately. Taking the example of the solar sector, the installed capacity increased from barely 134 MW in 2018 up to 6,000 MW in 2020. Surprisingly, this dynamism contrasts with a more challenging environment when it comes to the number of merger & acquisition (M&A) deals – both greenfield…
The US$1.34 billion Botum Sakor coal plant will have a generating capacity of 700 megawatts (MW) and be built by the Cambodian Royal Group and Sinosteel Equipment and Engineering Company, a subsidiary of China’s state-owned Sinosteel Corporation. Botum Sakor is one of two coal plants Cambodia’s government has approved this year in response to severe…
OCTOBER 26, 2020 – 7:45 PM SINGAPORE is set to ink an agreement with Laos, Thailand and Malaysia at an Asean meeting next month to advance cooperation on cross-border power trading, Second Minister for Trade and Industry Tan See Leng said on Monday. This comes as the Asean Centre of Energy has predicted that energy…
Binh Dinh Province has given approval to a German company to study the possibility of building the country’s second offshore wind power plant. PNG AG will carry out a year-long study for a $1.5-billion wind power plant in the districts of Phu Cat and Phu My. The company, which has over 20 years of experience…
SINGAPORE: Tropical Southeast Asia long had plans to harness the power of the winds to propel the next phase of their economic growth. In 2015, the Association of Southeast Asian Nations (ASEAN) set an ambitious target of securing 23 per cent of its primary energy from renewable sources by 2025 with energy demand projected to…
The ground-mounted solar project will be set up in the Banteay Meanchey province of Cambodia B.Grimm Power Public Company Limited has announced that its wholly-owned subsidiary, B.Grimm Solar Power 1 Company Limited, has completed the acquisition of Ray Power Supply Company Limited. https://mercomindia.com/b-grimm-acquires-ray-power-supply-in-cambodia
