Investing in Solar Power in Vietnam is Becoming More and More Attractive

Vietnam is witnessing the growing "thirst" of international companies and investors engaging in the solar energy trading market.

The real potential of solar power in Vietnam

According to the Vietnam Clean Energy Association, Vietnam is one of the countries with the most sunshine in the world's solar radiation map.

On average, total solar radiation in Vietnam ranges from 4.3-5.7 million kWh / m2. In the Central Highlands provinces, the average sunshine hours range from 2,000-2,600 hours per year, average solar radiation of 150kcal / m2 is about 2,000-5,000 hours per year, with estimated theoretical potential around 43.9 billion TOE (TOE – tons of oil equivalent).

With the wind and solar advantage of a tropical monsoon climate country, Vietnam identified that these were two main sources of energy for clean power development. Therefore, The Power Development Master Plan VII has been adjusted and planned to exploit solar electricity of about 850MW by 2020; 4,000MW by 2025 and around 12,000MW by 2030.

Currently the provinces such as Binh Thuan, Ninh Thuan, DakLak, Tay Ninh ... total capacity registered projects in each province reaches 1,000 MW. These are huge numbers, however, according to many experts, the efficient use of wind and solar power is not easy.

In the last few years , the Government of Vietnam has facilitated investors to develop solar energy together with the latest Feed in Tariff (FiT). Although the ability to pay for a project is always an important challenge, but with a positive outlook for future return on capital and current business conditions, this market will provide a good opportunity. for developers, investors, IPPs, service providers, suppliers and manufacturers.

Currently, Sinenergy Holdings Co., Ltd will invest in a plant producing solar power combined with high technology agriculture in Phuoc Huu commune (Ninh Phuoc district) on an area of 832 ha with a total investment capital of VND7,920 billion. The investment scale of the project is 300MW with a production volume of over 550 million kWh / year in combination with hi-tech agriculture: local vegetables and fruits (tomatoes, apples, garlic, etc) and fresh vegetables exported to Singapore and the world. The project is divided into 4 stages for investment and is expected to be completed in July 2019.

FDI Company supports Sinenergy Holdings Co., Ltd when delegation woks with Ninh Thuan Province

Of which, FDI Joint Venture Investment Promotion andInternational Cooperation Company (FDI Company) is currently reliable investment promotion and consultancy Unit for Sinenergy Holdings Co., Ltd to transact business with Ninh Thuan Province’s leaders to carry out this project. It is projected to be completed in July 2019.

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