bet88 nhà cái đến từ châu âuConsistency & clarity required for renewables

How would you assess the level of interest bet88 nhà cái đến từ châu âu investment from European businesses in Vietnam’s renewable energy sector?

Renewable energy is still a very good option in Vietnam. There is a lot of potential here. However, the level of interest from European companies is starting to dwindle due to a lack of progress bet88 nhà cái đến từ châu âu a degree of uncertainty when compared to other markets.

Many, however, are still here because they are interested bet88 nhà cái đến từ châu âu see the potential bet88 nhà cái đến từ châu âu demand. But they need stability, they need more certainty, bet88 nhà cái đến từ châu âu there is a requirement for the government to try to provide this.

The Vietnamese Government’s efforts to support renewable energy, through feed-in tariffs (FiTs), tax incentives, bet88 nhà cái đến từ châu âu other fiscal policies, provided an initial boost to incentivize certain renewable energy technologies. Such mechanisms have already encouraged investment in the market, especially in solar bet88 nhà cái đến từ châu âu wind energy. However, the incentive structure has now been withdrawn bet88 nhà cái đến từ châu âu diluted bet88 nhà cái đến từ châu âu does not support new technologies where there is still a high degree of uncertainty.

To maintain consistent domestic bet88 nhà cái đến từ châu âu international investment in the renewable energy sector, there needs to be stronger policy consistency bet88 nhà cái đến từ châu âu clearer long-term plans with appropriate levels of support to allow new technologies to develop bet88 nhà cái đến từ châu âu stabilize, so investors can be confident in large-scale multi-billion-dollar investments.

In other sectors such as industry bet88 nhà cái đến từ châu âu manufacturing, investors have good clarity on regulations bet88 nhà cái đến từ châu âu know how much profit their investments will bring, while investors in the energy sector do not. Vietnam needs to bring certainty to the domestic energy market, bet88 nhà cái đến từ châu âu convince FDI enterprises that this is a safe, transparent, bet88 nhà cái đến từ châu âu tightly controlled investment environment. This message needs to be communicated consistently from the highest levels of government, with decisions made in a timely manner. Ongoing support from senior levels of government is also critical to reassure investors, reduce risk, bet88 nhà cái đến từ châu âu ultimately build long-term confidence in the sector.

Fundamental to continued investment bet88 nhà cái đến từ châu âu interest for European companies is offtake certainty. Can projects remain financially viable, bet88 nhà cái đến từ châu âu will the green energy generated be absorbed into the grid consistently? Will commercial bet88 nhà cái đến từ châu âu legal terms support bet88 nhà cái đến từ châu âu protect the investor? Power purchase agreement (PPA) functionality is also still a major concern that needs to be addressed. Additionally, for the planned large increase in energy generation from all sources, the maturity bet88 nhà cái đến từ châu âu functionality of the grid bet88 nhà cái đến từ châu âu the ability to effectively evacuate power from the area where it is generated to support both local bet88 nhà cái đến từ châu âu national demand are key.

There has been recent consideration given to adding 142 solar power projects that previously faced legal issues into theNational Power Development Plan VIII (PDP8), with the amended plan set for approval in mid-May. How has this move met investor expectations?

The focus on seeking to support the delivery of these projects, bet88 nhà cái đến từ châu âu others, has gone some way to providing additional reassurance to European investors bet88 nhà cái đến từ châu âu developers, where there has been a great deal of uncertainty in the market in the past. A lot of money has already been invested by the developers of these projects, based on previous regulatory processes bet88 nhà cái đến từ châu âu policy pathways, but as these have stopped or been altered so has the deployment of such projects. It’s good to see they are moving forward now bet88 nhà cái đến từ châu âu also reassuring to see that there is now a way for them to actually get guaranteed prices from the market bet88 nhà cái đến từ châu âu get guaranteed ways of generating the energy pumping into the power grid.

However, the overall capacity of these 142 solar projects is relatively modest bet88 nhà cái đến từ châu âu will need to be complemented by other renewable energy sources, bet88 nhà cái đến từ châu âu other forms of energy more broadly, to meet Vietnam’s growing power demand. These projects will also need to be supported by grid availability bet88 nhà cái đến từ châu âu offtake certainty, to ensure a positive business case can be established where there is little or no risk of curtailment, uncompensated termination, abrupt changes in legal policy that may reduce tariffs, or vulnerability to currency indexation.

Solar projects alone are not sufficient to deliver Vietnam’s green energy bet88 nhà cái đến từ châu âu net-zero goals, bet88 nhà cái đến từ châu âu wind, hydro, storage, hydrogen, bet88 nhà cái đến từ châu âu others will all need to be balanced bet88 nhà cái đến từ châu âu integrated, where all aspects will play a role.

A well-supported bet88 nhà cái đến từ châu âu efficient grid infrastructure is key to unlocking this renewable energy potential, which will include the need to reinforce the 500kV backbone running from North to South in Vietnam (potentially through high-voltage direct current (HVDC) technology), to ensure that energy generated locally can be utilized nationally bet88 nhà cái đến từ châu âu satisfy the demand in other areas. Delivering a more effective bet88 nhà cái đến từ châu âu smarter grid is a way to unlock the energy industry in Vietnam bet88 nhà cái đến từ châu âu expand the capability to export surpluses bet88 nhà cái đến từ châu âu trade with neighboring markets.

Vietnam aims to reach double-digit GDP growth in the next couple of years. This means that for every 1 per cent of GDP growth, the country will need about 1.5-times that in supporting additional energy generation bet88 nhà cái đến từ châu âu adequate transmission, bet88 nhà cái đến từ châu âu any energy invested has to keep up with future demand.

The revised PDP8, approved in April, has increased total capacity targets for renewable energies. What are the advantages for Vietnam in reaching the goals in the revised PDP8?

Vietnam has several strategic advantages that make it well-positioned for achieving the renewable energy targets in the revised PDP8. However, this will require driven dedication, timely decision-making, investment, bet88 nhà cái đến từ châu âu a more stable bet88 nhà cái đến từ châu âu transparent policy landscape.

Vietnam is located in the Southeast Asian tropical monsoon region, with diverse energy resources of all types, including renewable energy.

Its strong GDP growth bet88 nhà cái đến từ châu âu continually-growing population result in increased energy demand that will need to be met by additional energy generation through base-load sources, such as fossil fuels bet88 nhà cái đến từ châu âu nuclear, bet88 nhà cái đến từ châu âu also temporal sources, like hydro bet88 nhà cái đến từ châu âu renewable energy. Balancing the energy generation of these sources bet88 nhà cái đến từ châu âu reducing fossil fuel generation can work to achieve Vietnam’s net-zero targets bet88 nhà cái đến từ châu âu also deliver supply for its population bet88 nhà cái đến từ châu âu the various manufacturing bet88 nhà cái đến từ châu âu logistical sectors. The environment is good for renewables, bet88 nhà cái đến từ châu âu the appetite bet88 nhà cái đến từ châu âu demand are high. Such an opportunity needs to be supported to ensure the stated targets can be delivered.

The revised PDP8 offers opportunities bet88 nhà cái đến từ châu âu actively encourages bet88 nhà cái đến từ châu âu targets the expansion of renewable energy, particularly with regard to solar, wind, ammonia / green hydrogen, bet88 nhà cái đến từ châu âu storage. Existing renewable energy technologies, such as onshore wind bet88 nhà cái đến từ châu âu solar, can be seen to have gathered increased momentum for larger-scale deployment, particularly on the solar side, where there is a large focus on roof-top solar (RTS). Recent tariff adjustments for renewable energy generation, bet88 nhà cái đến từ châu âu increased energy costs (Vietnam Electricity (EVN) increased costs by 4.8 per cent on average in May), create a more attractive environment for investment. This also allows many renewable energy projects remaining from PDP7 bet88 nhà cái đến từ châu âu unable to be delivered under this plan bet88 nhà cái đến từ châu âu from PDP8 (in April 2023) to now find a clearer route to market bet88 nhà cái đến từ châu âu governance process for how projects will be developed, selected, bet88 nhà cái đến từ châu âu awarded.

From a policy perspective, I believe there are positive signs for European renewable energy developers bet88 nhà cái đến từ châu âu suppliers. The amended Law on Electricity was passed in November 2024 bet88 nhà cái đến từ châu âu took effect in February, with all guiding decrees being drafted bet88 nhà cái đến từ châu âu implemented.

The government has also issued Decree No. 65/2025/ND-CP, amending Decree No. 11/2021/ND-CP, effective from May 2, 2025, regulating the assignment of certain sea areas to organizations bet88 nhà cái đến từ châu âu individuals for the exploitation bet88 nhà cái đến từ châu âu use of marine resources. This will allow developers to apply for seabed allocation for offshore surveys. With these new developments, if Vietnam allows seabed surveys to commence bet88 nhà cái đến từ châu âu other activities related to offshore wind in 2025 to proceed, it will provide clarity on a route to market for project awards bet88 nhà cái đến từ châu âu offtake. The country still has full potential to become a renewable energy hub bet88 nhà cái đến từ châu âu meet its COP26 commitments on net-zero emissions by 2050.

Vietnam also benefits from strong integration into regional bet88 nhà cái đến từ châu âu global supply chains as part of the broader East Asian manufacturing ecosystem, which includes China, South Korea, bet88 nhà cái đến từ châu âu Taiwan - home to many of the world’s leading producers of solar PV modules bet88 nhà cái đến từ châu âu wind turbine components. Domestically, Vietnam is also strengthening its support industries, such as steel fabrication, electrical equipment, bet88 nhà cái đến từ châu âu logistics, to meet growing clean energy demand.

Subsidiaries of PetroVietnam, including PTSC bet88 nhà cái đến từ châu âu PTSC M&C, have emerged as competitive players in the regional nearshore bet88 nhà cái đến từ châu âu offshore wind supply chain bet88 nhà cái đến từ châu âu are exporting multi-million-dollar renewable energy assets to Taiwan, South Korea, Europe, bet88 nhà cái đến từ châu âu even the US.

What recommendations would you make for Vietnam to ensure that supply bet88 nhà cái đến từ châu âu demand is balanced bet88 nhà cái đến từ châu âu that it rapidly increases its power supply while attracting investment during the upcoming new phase of economic development?

Some of the regulations on renewable energy deployment, particularly those that require clarity bet88 nhà cái đến từ châu âu decisions from a central government level, are still a bit unclear, making it difficult for developers bet88 nhà cái đến từ châu âu investors to fully see the route to market to develop major projects. There needs to be a clear roadmap for how renewable energy projects will actually be delivered.

The revised PDP8 supports this to some extent, but we still need to see how it will be implemented. It’s one thing to create a table of targets, but what matters is the actual execution bet88 nhà cái đến từ châu âu clarity around which parties are responsible for delivering what. This shouldn’t fall solely on developers. We also need transparency on how projects will be integrated with tariffs bet88 nhà cái đến từ châu âu costs.

At the core of all this is the power grid, which must be ready to handle the increasing demand bet88 nhà cái đến từ châu âu generation. Right now, Vietnam’s grid cannot cope with the volume of renewable energy forecast under the revised PDP8. That’s why the grid needs to be a primary focus at this stage.

For example, there have been issues in the past where Vietnam has not been able to transmit energy from the South to the North because the current transmission system cannot handle high capacities effectively. Investment is needed here, not just in transmission but also in storage, smart bet88 nhà cái đến từ châu âu efficient energy management bet88 nhà cái đến từ châu âu transmission, bet88 nhà cái đến từ châu âu balanced base load generation. Base load power, whether from oil bet88 nhà cái đến từ châu âu gas, nuclear, or LNG, provides a consistent supply that can supplement renewable energy when this is less available. Meanwhile, storage solutions like pumped hydro or batteries can support renewable energy by smoothing out its variability. Likewise, the integration of a smart grid bet88 nhà cái đến từ châu âu effective energy trading with neighboring countries can create a more resilient bet88 nhà cái đến từ châu âu supportive superstructure.

Vietnam is on a major growth trajectory. More industries are coming, particularly higher-end industries that have a much larger energy demand, such as data centers bet88 nhà cái đến từ châu âu chip manufacturing, etc., bet88 nhà cái đến từ châu âu those that have a strong green commitment bet88 nhà cái đến từ châu âu requirement to source guaranteed green energy, bet88 nhà cái đến từ châu âu with these, energy demand will continue to rise. That’s why it is crucial to invest in the grid, to ensure infrastructure is in place to transmit energy efficiently from south to north, bet88 nhà cái đến từ châu âu to do so in an energy-efficient manner. A smart grid is not just necessary, it’s essential.

Vietnam also needs to think more strategically about storage, base load, bet88 nhà cái đến từ châu âu even energy exports. There is real potential to export electricity to neighbors like China, Cambodia, bet88 nhà cái đến từ châu âu Laos. Vietnam is participating in regional trade, but mostly as a buyer. As it builds out renewable infrastructure, now is the time to also support the selling side bet88 nhà cái đến từ châu âu become a regional energy leader.

The government bet88 nhà cái đến từ châu âu relevant ministries have made significant efforts to remove obstacles bet88 nhà cái đến từ châu âu support the implementation of high-quality, efficient projects. This is encouraging, but much remains to be done to allow widespread green energy deployment bet88 nhà cái đến từ châu âu provide sound levels of certainty for foreign investment.