Invest - Events

The Vietnamese government aims to produce 10.7% of electricity from renewable sources by 2030. Vietnam's PV installations reached 13.437GW (ground + roof) in 2020. Vietnam has installed more than 101,939 rooftop solar systems with a total installed capacity of more than 9.3GW as of January 4, 2021, according to the report of Electricity of Vietnam (EVN).

In 2020, despite many difficulties and challenges (from both inside and outside), especially the rage of Covid-19 pandemic, severe storms, and floods, trade tensions escalating and geopolitical competition complication ... our economy still maintained stability, the inflation and consumer price index (CPI) were well controlled, the GDP growth rate of 2, 91% - in the highest category in the world. It that great economic exploit, was an important contribution of the energy sector. Here are 10 typical events of the Vietnam energy sector in 2020, voted by the Scientific Council of Vietnam Energy Magazine.

On 23/12/2020, in Ho Chi Minh City, under the direction of the Office of the National Steering Committee for Electricity Development, the Science Council of Vietnam Energy Magazine organized the “First Vietnam Clean Energy Forum and Summurising the vote of the Leading clean energy enterprises in Vietnam 2020.

On December 11, 2020, in Hanoi, Korea Consortium and Trung Nam Group, signed Memorandum of Understanding in the energy sector. Accordingly, the Korea Consortium will support the Trung Nam Group in developing energy projects in Vietnam.

On October 19, 2020, in the presence of Vietnamese Prime Minister Nguyen Xuan Phuc and Japanese Prime Minister Suga Yoshihide, the consortium of investors including PetroVietnam Power Corporation (PV Power), Vietnam Mechanical and Machine Assembly Joint Stock Company (Colavi), Tokyo Gas Group and Marubeni Group have signed a memorandum of understanding (MOU) on Quang Ninh LNG Power Project

The Asian Development Bank (ADB) and Phu Yen TTP Joint Stock Company (Phu Yen Joint Stock Company) just have signed a loan of 186 million USD for developing and operating Hoa Hoi solar power project with a capacity of 257 MWp in Hoa Hoi commune, Phu Hoa district, Phu Yen province, Vietnam through the country’s first certified green loan.

Stock-exchange listing completes spin-off of Siemens Energy AG. Transaction shall create long-term value for shareholders of both companies. New Siemens AG to have clear focus on shaping digital transformation of industry.

Vietnam is one of the recognized renewable energy markets in the world, particularly in Southeast Asia region. It has a great potential to develop solar power, especially in its central and south regions. As the world is facing impacts of COVID-19 and the countries are bouncing back, the energy demand has been high like never before. Vietnam's energy demand is expected to grow by over 10 percent by the end of this year and by 8 percent per year in the next decade.

The period 2020 - 2030 will mark an important step in strong increasing the clean energy sources as renewable energy, LNG power in total power resource structure of Vietnam. This trend will continue after 2030. At the same time, the role of the private sector in the electricity/energy market will become important and significantly increase in coming future.

On August 28, 2020, in Hanoi, Ministry of Industry and Trade (MOIT) held the first workshop on the National Energy Master Plan (NEMP) for 2021-2030 period, with a vision up to 2050.

The Chairman of Ca Mau Provincial People's Committee (PPC) has just requested the PetroVietnam Power Corporation (PV Power) as an investor to urgently complete the necessary documents and procedures for Ca Mau PPC as soon as possible to submit to the Ministry of Industry and Trade (MOIT) for considering and additionally approving Ca Mau 3 combined cycle gas turbine (CCGT) project using liquefied natural gas (LNG) in Khanh An Industrial Park, U Minh district into the National Power Development Planning.

On June 22, in Hanoi, took place the signing ceremony of financial commitment between Electricity of Vietnam (EVN) and French Development Agency (AFD) for Hoa Binh Extended Hydropower Project (EHPP).

Trina Solar Co., Ltd., a leading global PV and smart energy total solution provider, announced the global launch of TrinaPro Mega, an ultra-high power smart PV solution featuring modules with power output exceeding 500W. With further improvements in product selection and integrated design, the solution enhances the overall system performance and reduces the levelized cost of energy (LCOE). Following the debut of the Vertex ultra-high-power new 500W-plus module in February, TrinaPro Mega marks yet another benchmark for the era of the 500W power output, as it delivers an optimized solution for the application of Vertex modules in downstream systems.

Siemens Managing Board decides to form worldwide aid fund to help relieve and combat the coronavirus pandemic. All this funds donated by employees to supplement numerous aid programs already in place at international Siemens units aim to help people stricken by the COVID-19 pandemic worldwide. Siemens' President and CEO lays foundation by donating €1 million.

On March 12, 2020 Hanoi Electricity Corporation (EVNHANOI) and SONHA Group signed an agreement to cooperate in developing the rooftop solar power systems in Hanoi city.