PIC tracks the latest developments in Vietnam's power sector providing insight and analysis on the market and policy.
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Ho Chi Minh City plans 6GW offshore wind power project
Ho Chi Minh City has announced plans for a 6 GW offshore wind power project in Can Gio District. The project, planned for inclusion in the National Power Development Plan for the 2021-2030 period with an outlook to 2050 (NPDP8), would span an area of over 325,000 hectares in the East Sea and approximately 8 hectares onshore in the Hiep Phuoc Industrial Zone. Implementation is planned in four phases with connection to the national power grid at a voltage level of 500 kV. Source
Mekong Capital plans USD200mn climate fund for forest regeneration by 2024
Vietnam-based private equity firm Mekong Capital plans to establish a climate fund of up to USD 200 million, targeting investments in forest regeneration across the Mekong region. The fund will specifically focus on businesses involved in organic and seaweed farming in Laos, Cambodia, Thailand, and Vietnam. Source
Australia commits AUD105m for climate change in bilateral cooperation with Vietnam
Australia's Prime Minister, Anthony Albanese, has announced an investment of AUD105 million to support Vietnam in climate change adaptation and energy transition. The announcement was made during Prime Minister Albanese's visit to Hanoi, where he met with Vietnamese Prime Minister Pham Minh Chinh. Bilateral trade between Australia and Vietnam increased 30 percent in 2022, reaching nearly USD 16 billion. Source
BCG Gaia secures financing for solar power project platform
BCG Gaia has secured funding of VND 1.834 trillion from DBS Bank Limited (DBS) to support the financing of two solar power plants, BCG Long An 1 and BCG Long An 2, with a total capacity of 141 MW. BCG Gaia ,a joint venture between BCG Energy and Sembcorp Energy Vietnam, was previously granted a syndicated loan of USD 31.5 million from three Singaporean banks including DBS, Oversea Chinese Banking Corporation (OCBC), and United Overseas Bank Limited (UOB). The joint venture currently has debt facilities of up to USD 50 million. Source
Xiamen HithiumEnergy Storage to invest in Hai Duong province's high-tech sector
Xiamen Hithium Energy Storage Technology is set to invest in the development of lithium-ion battery materials and energy storage systems in Hai Duong province. Xiamen Hithium Energy Storage Technology is a leader in China's energy storage market with projected revenue of approximately USD 2.2 billion in 2023. Hai Duong province in Vietnam is pivoting to attract high-tech investments and the investments is reflective of this new investment focus. Source
TotalEnergies ENEOS partners with Golden Victory for 4.6 MWp solar project
TotalEnergies ENEOS is to develop a 4.6 MWp solar photovoltaic (PV) system for Golden Victory Vietnam Co. Ltd., a footwear manufacturer and supplier for sportswear brands, at its facility in Nam Dinh Province, Vietnam. The project, which expands the factory’s PV system to 7.5 MWp, is equipped with over 7,900 modules and is projected to generate 5,200 MWh of renewable electricity annually. Source
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