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. Regarding solar power, Vietnam has a high potential for solar energy production, with 1,600-2,700 sunlight hours per year and an average direct normal irradiance of 4-5 kWh per sqm per day.
Vietnam aims to increase solar power mix to 3.3% and 20% by 2030 and 2050 respectively. The government’s target by 2020 and 2025 is to install 850 MW and 4 GW respectively. By 2030, it aims to increase it to 12 GW. As of June 2019, 4464MW of renewable energy power was connected on the grid.
The Vietnamese government aims to produce 10.7% of electricity from renewable sources by 2030. It targets that the total wind power capacity will reach about 1,000 MW by 2020 and 6,200 MW by 2030.
1GW of rooftop solar will be installed and in operation at the end of 2025. According to the statistics released by WB, there is 6GWof RTS potential from Ho Chi Minh, over 1 GW of RTS potential in Da Nang.
Vietnam’s power demand keep the growth rate of 10.3%~11.3% a year from the year of 2016~2020, and it will follow that growth pattern and keep the level of 8.0%~8.5% at the year of 2020~2030. However, it’s hard to meet that demand with the present coal-fired power leading supply structure.
Attractive FiT in solar and wind both. Solar FiT is varied from the north and south, as well as the rooftops and the floatings.
Event Highlight: Rooftop solar & Bankability and investment in Vietnam wind power
1.Rooftop solar has the best FIT among the whole Vietnam solar sphere, including ground-mounted solar, rooftop solar, floating solar.
2.1GW of rooftop solar will be installed and in operation at the end of 2025, however, only over 30mw RTS were installed. According to the statistics released by WB which was officially appointed for rooftop investigation, there is 6GWof RTS potential from Ho Chi Minh, over 1 GW of RTS potential in Da Nang.
3.Vietnam wind power development has been restricted by unbankable PPA and arbitration law, etc. They way to address these challenges is the key to release the wind power potential.
4.Ways to develop utility scale project.
5.Feasible investment portfolio in Vietnam renewable market.