Vietnam

This comes on the back of Vietnam increasing renewable energy to 30% by 2030

The project aims to address Vietnam’s power shortage.

Technological advancement and lower costs of renewables will drive this expected growth.

Its solar installations added 9.3 gigawatts to the national grid.

The two power plants are estimated to be completed by 2026 and 2027.

The five solar rooftop projects have a total capacity of 21.6 MWp.

It’s generated energy will power about 43,700 Vietnamese households a year.

The first phase of the project is expected to start operations by 2024.

This is urged for localities with potential for wind power development.

An auction system is being mulled over to replace FiTs after 2023.

Co-authored by Justine Barthe-Dejean, Reed Smith and Nguyen Thi Xuan Trinh, Partner, VNA Legal

Projects still get greenlighted as Mekong River nations struggle to meet climbing power demand, but concerns on their environmental, social, and economic effects are also mounting.

Their first phases are set to be commissioned in 2025-26.

Tight deadline for the projects drives investments outside the FiT allotment.

The project is said to produce about 49,526MWh of renewable energy yearly.

Asia received $10b of investments whilst Europe got $5.6b.