SolarPower Europe publishes new Vietnam solar investment report

HO CHI MINH CITY, Vietnam (Monday, 28 November 2022): Today, during the Green Economy Forum & Exhibition (GEFE) in Ho Chi Minh City, SolarPower Europe launched its solar investment opportunities report for Vietnam. 

This new publication provides an overview of Vietnam’s business environment, and major macroeconomic trends, while analysing issues related to ongoing regulatory uncertainty and grid constraints. It maps out the Vietnamese energy sector, including the energy mix; key stakeholders and developments; and the policy and legislative framework governing renewable energy generation. 

Walburga Hemetsberger, CEO of SolarPower Europe, commented, “Solar has reached the Terawatt level globally and it’s imperative that key global markets achieve this solar capacity. With Vietnam’s 2050 climate neutrality target, and goal of becoming a high-income country by 2045, it will have to accelerate its solar deployment. SolarPower Europe is delighted to present its report on solar investment opportunities in Vietnam to support the country’s solar journey.” - 

The research finds that Vietnam has strong solar potential, as demonstrated by the massive increase in solar capacity between 2019-2020. However, some constraints remain to be addressed through market reform and policymaking.  

Paolo Travaglini, Chair of the SolarPower Europe Global Markets Workstream, Head of Area Coordination Renewables, Africa, Asia, Oceania Eni Plenitude said; “Vietnam holds the potential for a substantial growth of solar installed capacity, which the country should greatly benefit from. This report aims at supporting policymakers in resolving issues impacting solar growth, and to fully exploit that potential.

While setting out key information for potential investors in Vietnam solar, the report offers a number of policy recommendations to maximise Vietnam’s solar prospects, including:

• ensuring a clear and predictable regulatory framework
• the creation of a new support scheme for solar, and
• streamlining permitting procedures through the creation of a one-stop-shop.

This publication was drafted by SolarPower Europe’s Global Markets workstream. The workstream launched in March 2018 to identify new avenues for worldwide business and cooperation and contribute to the global energy transition. 

Vietnam: Solar Investment Opportunities is the 12th publication in a series of in a suite of free investment reports on global markets with significant solar potential, including Mozambique, Senegal, Côte d’Ivoire, Myanmar, Kazakhstan, India, Tunisia, Latin America, Algeria, and the Middle East.

© SolarPower Europe

Paolo Travaglini, Chair of the SolarPower Europe Global Markets Workstream, Head of Area Coordination Renewables, Africa, Asia, Oceania Eni Plenitude