RSS

Vietnam solar power market becomes most attractive with more than 4GW in just 2months

Vietnam solar power market becomes most attractive with more than 4GW in just 2months - 

According to the latest statistics from Electricity of Vietnam (EVN), Vietnam has 82 solar power plants connect to power network, with total 4464 MW capacity, and it accounts about 8.28% in Vietnam electricity supply mix, which is far more than 1000MW target setting for 2020.

Geographical advantage of solar and wind

Vietnam is located in the sub-equatorial region. The amount of solar radiation in winter is between 3 and 4.5 kWh per square meter per day, and the amount of radiation in summer is between 4.5 and 6.5 kWh per square meter per day.

According to the figures released by World Bank in 2006, Vietnam has 1,600-2,700 sunlight hours per year and average direct normal irradiance of 4-5 kWh per square meter per day. In term of wind power, Vietnam has a coastal line of 3400km, with an average wind speed of 6M/s, with total wind power potential between 24GW and 26.7GW.

Huge demand of electricity

According to the Vietnam electricity supply mix and tendency of 2030 released by EVN, the current power structure is big difficulty to meet the huge demand. Theoretically, It’s immense potential for wind and solar-based projects and is sufficient enough to address the growing power demands.

Relevant policies issued by the government

Taking into account of the power network overload, transmission losses, unsteady fuel supply to power generation, severe weather and so on… , to address the challenge from the huge demand in future, VEA is now asking supports from Ministry of Industry and Trade (MOIT) and local government to incentive related entrepreneurs and company to join its plan for rooftop solar.

According to the leadership of MOIT, approximately 1 GW rooftop solar will be installed and in operation by the end of 2025. However, according to Vina Capital’s figure, there are 4GW of roof top solar potential from now on to 2030.

In term of wind power, Vietnam government has raised the Feed-in-Tariff (FiT) for both onshore and offshore winds and set a target with 800 MW wind power of 2020 by its Revised PDP VII. The current pipeline data shows about 2GW of projects, with just over 1 GW of capacity expected to be installed in 2021, although 440MW have a permit or even secured financing already. However, previous FiTs were the biggest obstacle for project developers as the tariffs were not commercially viable.

More challenge and more opportunity

To explore the current situation and future changes in Vietnam renewable energy market, an international meeting will be held in Ho Chi Minh City on 6 Nov. by PVBOX, a vertical media company in China.

The aim of this SWES (Solar and Wind Energy Summit) is to provide a world-class meeting to exchange information and promote the renewable energy industry, to differentiate the summit from other conferences by covering more comprehensive issues from both public and private sectors relating to sustainable or renewable energy, to meet the challenges and demands in developing practical solutions under international standards, and to help main roles in field to seize the opportunities and gain the initiative.

VietnamEnergy.vn

Leave your comment on this story