Solar & Storage Live Vietnam

Relive memories from the recently concluded Solar & Storage Live Vietnam - its best edition ever! Watch the post-event video below, and share it around with people whom you've met. Want to be part of the 2025 edition? Contact Alice Hoàng Anh Chevalier now to secure your spot and be a part of the energy revolution. https://lnkd.in/gYhXSSdJ #solarstoragelivevn

Vietnamese businesses are increasingly prioritizing sustainability, but challenges remain due to investment constraints, market standards, and implementation difficulties. 1. Sustainability Practice Still Lagging: — Despite progress, Vietnam’s green growth faces major obstacles, particularly for exporters targeting the EU, where strict green regulations such as the Farm to Fork Strategy and CBAM create significant barriers. — A KPMG report revealed that over 90% of input materials used by businesses in Vietnam still cannot demonstrate sustainability, and carbon reduction goals are far behind regional peers. 2. Low ESG Adoption Among Vietnamese Firms: — According to PwC, while 80% of Vietnamese companies have committed to or plan to commit to ESG practices in the next 2-4 years, actual adoption remains low, partly due to a lack of leadership buy-in. — Many companies struggle with ESG due to unclear definitions of Net Zero, lack of common green standards, and limited financial capacity for green investments, especially among small and medium enterprises (SMEs). 3. Financial Challenges for Green Transition: — UOB Vietnam’s 2024 Business Outlook Study shows that 50% of Vietnamese companies cite a lack of sustainable financing solutions as a key barrier to their green transformation. — To fully transition to low-carbon energy, Vietnam needs an estimated $650 billion in investment by 2050, according to the country's Power Development Plan VIII. The World Bank estimates $368 billion will be needed by 2040 to fund green infrastructure, technology, and social programs. 4. Private Sector Participation is Critical: — Government funding alone will not suffice. Increased private sector involvement is essential to meet these large investment needs. — IFC - International Finance Corporation recently announced a $150 million financing package for Ngân hàng TMCP Đông Nam Á - SEABANK, including investments in blue bonds (linked to ocean and water-related activities) and green bonds (focused on green buildings and renewable energy). 5. Financial Institutions Supporting Green Projects: — UOB has supported 17 renewable energy projects in Vietnam, while also providing green trade financing for sustainable agriculture, such as Betrimex Vietnam’s coconut production. — Despite the urgent need for green financing, Vietnam's domestic banks still allocate only 4.5% of their credit to green initiatives, indicating a significant gap in funding for climate-related projects. As Vietnamese businesses grapple with the complexities of sustainability, the path forward remains fraught with financial and structural challenges. With domestic banks slow to embrace green financing and widespread ESG adoption still elusive, can Vietnam's private sector step up to fill the funding gap before it's too late? #Sustainability #ESG #NetZero #GreenFinance #RenewableEnergy #SolarEnergy #SolarStorageLiveVN

As Northern Vietnam faces growing energy demands, the Ministry of Industry and Trade (MOIT) has commissioned research on the development of grid-connected rooftop solar power. This initiative aims to meet local electricity needs and inform future policies to promote solar energy development across the region. ⚡ 1. Northern Vietnam's Rising Energy Demand: — Despite accounting for nearly 50% of Vietnam's total electricity consumption, Northern Vietnam has a limited share of rooftop solar capacity — only 6.42% of the national total (616 MWp). — The region is facing increasing electricity shortages, with limited new power sources expected to come online by 2024. 📜 2. National Policy Encouragement: — Resolution No. 55-NQ/TW (2020) promotes private sector participation in renewable energy, including rooftop solar and wind power. — Rooftop solar energy is seen as a key solution to meet growing energy demands while contributing to Vietnam’s net-zero emissions goal by 2050. 🌤️ 3. Challenges in Northern Vietnam: — Solar radiation in Northern Vietnam is 1.5 to 1.7 times lower than in the Central and Southern regions, making investment less attractive despite a favorable electricity tariff (Fit 2: 8.38 US cents/kWh). — Technical and financial challenges hinder the growth of rooftop solar in the North compared to other regions. 🔍 4. Government Support and Research: — MOIT’s research aims to evaluate current rooftop solar development, identify technical and management challenges, and propose policies to accelerate adoption in the North. — The study will provide crucial data on installation costs, investment returns, and policy recommendations to support sustainable growth. 📈 5. Future Outlook: — Northern Vietnam’s rooftop solar capacity is expected to grow as the government introduces favorable policies, particularly as part of Vietnam’s Power Development Plan VIII. — The shift to solar will contribute to Vietnam’s commitment to achieving net-zero emissions by 2050, playing a critical role in national energy security and environmental protection. #RenewableEnergy #SolarPower #VietnamEnergy #Sustainability #NetZero #EnergyTransition #GreenEnergy #NorthernVietnam #SolarStorageLiveVN

Ho Chi Minh City is positioning itself as a leader in renewable energy, aiming to develop a full-scale industry to drive its green transition and economic transformation. 🌿 1. Renewable Energy Industry Development: — Ho Chi Minh City seeks to create a renewable energy sector, incorporating it into the city's socio-economic development plan. — The initiative will support green transformation across industries, labor, finance, and energy from 2024 to 2030. ⚡ 2. Growing Energy Demand & Renewable Potential: — The city consumed 28.5 billion kWh of electricity in 2022, making up 15% of the nation's consumption. — Hydropower potential is limited due to geography, and coal power faces environmental concerns, positioning renewable energy as the most viable alternative. ☀️ 3. Wind & Solar Projects: — Two major offshore wind projects in Cần Giờ, with capacities of 2,000 MW and 6,000 MW, are under consideration for national grid integration and green hydrogen production. — A 166 MW rooftop solar project for government buildings is underway, alongside proposals for biomass and waste-to-energy projects totaling 340 MW by 2030. 🚧 4. Challenges & Policy Recommendations: — Experts highlight the need for clearer guidelines on investment selection and ownership of public rooftop solar projects. — Resolution 98, which facilitates renewable energy development, offers insufficient incentives, requiring further support to attract private sector participation. 🌍 5. Global Models & Investment Strategies: — Recommendations were made to learn from successful models like SolarNova (Singapore) and Resco (India), which simplify administrative processes and enhance public-private collaboration for large-scale solar projects. 📈 7. Outlook: — Ho Chi Minh City’s renewable energy sector holds great potential, but policy frameworks and execution strategies must be refined to enable investor participation. The city has opportunities to tap into offshore wind, rooftop solar, and waste-to-energy projects, driving its transition toward a greener economy. #RenewableEnergy #GreenTransition #SolarEnergy #Vietnam #WindEnergy #EnergyTransition #Sustainability #SolarStorageLiveVN

The recent collaboration between LONGi Solar and SEV_Hoa Nguyen to deliver an 11 MWp solar PV rooftop project for Tan De Company is a game changer for Vietnam’s garment industry. With advanced solar technology powering nine factories, this project reduces carbon emissions by over 8,500 tons annually, showcasing the potential of #rooftop #solar in transforming traditional manufacturing. ⚡🌱 With more manufacturers embracing renewable energy resources and ESG practices, rooftop solar is pivotal in meeting global #sustainability expectations. Solar & Storage Live Vietnam will continue to provide industries with platforms to explore innovative energy and storage solutions, pushing their ESG commitments even further. Eager to make a difference? Feel free to reach out to Alice Hoàng Anh Chevalier to get involved!

It might not be the industry you are in, but it's so relevant! 🌍 I have the privilege of attending Submarine Networks World 2024 in Singapore last week! 🎉 🔍 Did you know: Data isn't just transmitted via satellite! A significant amount of cross-continental data is transferred through submarine cables, with Singapore leading as one of the world’s top hubs. 🇸🇬 Singapore hosts 26 cablesconnected to 7 landing stations! 💡 How is this relevant to the Energy industry I’m in? The International Energy Agency predicts that global data centre electricity consumption could double by 2026, reaching 1,000 TWh—equivalent to Japan's total annual electricity production. 🧠 Moreover, with the rise of AI, data centre power demand is projected to surge by 160%! ⚡ It’s inspiring to see solar development growing in areas with strong land, grid, and fiber optic connections. This aligns perfectly with the clean energy goals of data centers, driving us towards a more sustainable future. 🌱☀️ How is this relevant to your industry? Something to think about. Driving you towards a more sustainable future: Solar & Storage Live Philippines Solar & Storage Live Malaysia Solar & Storage Live Vietnam Solar & Storage Live Thailand Solar & Storage Live Indonesia - Coming to you soon in 2025! #EnergyIndustry #SubmarineCables #DataCenters #Sustainability #SolarEnergy #AI #CleanPower #FutureEnergy #Innovation #SubmarineNetworksWorld2025 #TechnologyAndEnergy

The Ho Chi Minh City National Assembly delegation recently hosted a workshop to gather feedback on proposed amendments to Vietnam's Electricity Law, which will be reviewed during the upcoming 8th session of the National Assembly. Key Takeaways from the Discussion: ⚖️ 1. Legal Alignment: Participants emphasized the importance of aligning the amended Electricity Law with other related laws to ensure consistency across Vietnam’s legal framework. Suggestions included: — Adding provisions on fire safety regulations to align with the Fire Prevention and Rescue Law. — Revising electricity theft provisions to ensure consistency with Vietnam's Criminal Code. 💪 2. Consumer Rights: Ensuring equality between electricity suppliers and consumers, particularly in wholesale and retail contracts, was a key focus. Discussions highlighted the current imbalances in these contractual relationships. 📄 3. Clarification of Terms: The workshop called for clearer definitions in the law, such as differentiating "high energy consumption" from "large energy consumption" and improving clarity on terms like “electricity customers” and “electric fences.” 🧐 4. Civil vs. Criminal Issues: Proposals were made to revise terms like "electricity theft" to "electricity usage fraud," to avoid criminalizing civil disputes. 🚗 5. Support for Green Transport: Recommendations were made to include regulations for electric vehicle charging stations, addressing licensing, safety standards, and infrastructure planning as Vietnam shifts toward greener transportation. 💰 6. International Investment: Attracting foreign investment in national energy projects was highlighted, with suggestions to incorporate international best practices, particularly regarding financing for large-scale energy projects. This discussion reflects efforts to refine Vietnam's electricity legal framework, aligning it with global standards while supporting the nation's expanding energy needs. #ElectricityLaw #VietnamEnergy #LegalReform #Sustainability #GreenEnergy #InvestmentOpportunities #SolarStorageLiveVN

Despite Vietnam's net-zero pledge by 2050, over 60% of businesses remain unprepared for the green transition, with only 5.5% taking steps to reduce emissions. Challenges like limited green financing and regulatory unawareness are slowing progress, even as international pressure mounts from regulations like the EU’s CSRD. While green credit is on the rise, the question remains: Are Vietnamese businesses ready to invest in long-term sustainability, or will they risk falling behind in an increasingly green global market? 🤔 1. Key Findings: — Over 60% of Vietnamese businesses have not prepared for the green transition, according to a report by the Private Sector Development Committee (known as Committee IV). — The survey, conducted with 2,730 companies, revealed that only 5.5% have implemented emission reduction activities, and just 3.8% track and publish results annually. 🌿 2. Sector Readiness: — Industries such as agriculture, forestry, and aquaculture show higher recognition of the need for green transformation. — Textile (55.9%), manufacturing (52.6%), and mining (56.5%) sectors also recognize the need for green practices. — FDI enterprises are more aware of emission reduction needs than domestic firms, at 55.2% versus 48%. 🏭 3. Challenges: — Lack of information: 97% of paper industry businesses were unaware of greenhouse gas inventory requirements, in place for two years. — Access to green financing: 62.7% of companies with revenues between VND 1,000–1,500 billion struggle to secure funds for green transition. 📜 4. Regulatory Pressure: — Vietnam faces increasing pressure from international regulations, including the EU’s Corporate Sustainability Reporting Directive (CSRD) and the potential U.S. Foreign Pollution Fee Act (FPFA), both affecting exporters. — Vietnam has committed to net-zero emissions by 2050, as outlined at COP26. 💰 5. Financial Landscape: — As of late 2023, VND 621 trillion in green credit had been extended, with 45% directed to renewable energy and 30% to green agriculture. — The Ministry of Planning & Investment is proposing a new investment support fund to aid green innovation and digital transformation. 💡 6. Recommendations: — Government's Committee IV suggests accelerating capacity-building programs and green financing initiatives. — Businesses call for tax incentives and green credit mechanisms to ease capital constraints and support their transition to sustainable practices. Vietnamese businesses face significant challenges in the green transition, but with regulatory pressure mounting from global markets, the urgency to act is clear. Financial and policy support will be key to enabling this shift. #GreenTransition #VietnamBusiness #Sustainability #ClimateAction #GreenFinance #RenewableEnergy #NetZero #CorporateSustainability #CarbonEmissions #COP26 #ESG #VietnamEconomy #SolarStorageLiveVN

Long An, a province in the Mekong Delta region of southern Vietnam, has attracted significant investments in renewable energy, particularly solar and wind power projects. ☀ Growth of Solar Power: — Long An has already launched 8 solar power plants, including significant projects by BCG - Băng Dương and TTC Energy. — BCG Long An 1, the province's first solar project, completed in 2019 with a capacity of 40.6 MWp, set the stage for further developments. — BCG Long An 2, with 100.5 MW capacity, continues the momentum, benefiting from a 20-year FIT rate of 7.09 cents/kWh. 🌬 CS Wind's Major Investment: — On September 10, CS Wind (South Korea) announced plans to invest nearly $200 million in a wind power equipment manufacturing plant in Long An's Southeast Asia Industrial Park. — Partnership with Đồng Tâm Group: CS Wind will lease 50 hectares for the factory, which will produce offshore and onshore wind towers and supply the global market. — The plant aims for a production capacity of tens of thousands of units per year, exporting via Long An International Port.    🏋♂️ Challenges in Development: — While Long An benefits from favorable sunlight conditions (2,350-2,900 hours/year), legal and regulatory hurdles slow down investment. — Investors face complex procedures related to land use and project approvals, which must align with both provincial and national energy plans. — Infrastructure limitations and land issues (e.g., salinity, flooding) also present obstacles for new ventures. 📈 Outlook: — Long An remains committed to supporting clean energy growth under the national power development plan through 2030 and beyond. — As a strategic location near Ho Chi Minh City, the province is well-positioned to attract further investment, though improvements in legal frameworks and infrastructure will be essential. Conclusion: Long An's renewable energy sector is growing rapidly, with significant investment in both solar and wind power. However, challenges such as regulatory bottlenecks and infrastructure constraints need addressing to fully capitalize on its potential. #RenewableEnergy #Sustainability #CleanEnergy #WindPower #SolarEnergy #LongAn #VietnamEnergy #FDI #SustainableDevelopment #Investment #GreenEnergy #EnergyTransition #ESG #SolarStorageLiveVN

Vietnam’s Power Development Plan VIII (PDP8) is facing a potential adjustment as many approved power sources are struggling to meet the planned timelines, raising concerns about future electricity shortages. 🗓 1. PDP8 Timeline & Background: — PDP8 was approved on May 15, 2023, after nearly four years of development, starting in 2019. The implementation plan followed on April 1, 2024.    ☀ 2. Renewable Energy Landscape: — Solar and onshore wind have potential for fast development but require more attractive fixed power purchase prices (PPAs). Over the past two years, no new projects have successfully signed PPAs due to price limitations. 🏋♀️ 3. Challenges in Key Energy Sources: a. LNG Power: Of the 23 gas-fired power projects (totaling 30,424 MW), only the Nhon Trach 3 and 4 projects are expected to meet the 2030 deadline, with completion projected for May 2025. The remaining projects face hurdles, including issues related to pricing mechanisms and investment feasibility. b. Offshore Wind Power: Vietnam has no approved offshore wind projects yet, despite a target of 6,000 MW by 2030. Critical challenges include a lack of wind data, site assessments, and the high investment costs (approximately $2.5 billion per 1,000 MW). 💰 4. Investment Appeal and Risk: — Unclear mechanisms and unattractive terms have dampened investor interest in Vietnam’s energy sector. Even with better PPA rates, there are concerns about EVN’s financial losses from purchasing electricity at high prices while selling at lower rates. 📄 5. Need for Policy Reform: — Without significant reforms, including a clearer pricing structure and attractive investment mechanisms, it will be difficult to mobilize capital for new power projects. Current regulations discourage investment, as seen with projects awaiting PPA approval. #EnergyPolicy #VietnamEnergy #RenewableEnergy #SolarEnergy #PowerDevelopmentPlan #Investment #SolarStorageLiveVN