Vietnam

The Minister of Industry and Trade signed Decision No. 2600/QD-BCT.

Its poor energy infrastructure impedes the integration of new capacity from RE projects. 

The transaction will close within the first half of 2025.

The two plants will add over 1,600 MW. 

This connects Quang Trach (Quang Binh) and Pho Noi (Hung Yen).

The Prime Minister wants it done before 2 September.

Coal-fired thermal plants accounted for over half of the production.

On 3 July 2024, the Government of Vietnam issued its long-awaited decree permitting direct power purchase agreements (DPPAs) for renewable energy between private project developers and private energy consumers. An extraordinary feature of the decree grants permission for entirely privately developed, owned, and operated transmission lines. This provision could allow the development of large-scale solar or wind farms at remote sites to supply industrial consumers directly. This landmark legislation could ignite a new wave of rapid renewable energy development in Vietnam.

The facility will support thermal power plants.

This will refinance a 50-MW solar facility.

It will also acquire a stake in a GELEX unit that owns a hydropower asset.

The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.

A fully-charged e-bike could power the lights and two freezers in a convenience store for 3 to 4 hours.

The wind farm has the largest single-machine capacity of Electric Wind Power’s projects.

The Min Luong hydropower plant has a 20-year PPA with an EVN subsidiary.

The purchase of the majority of Gelex brings Sembcorp’s Vietnam portfolio to 450 MW.