NEOVEST Shares International Experience and Development Models for Vietnam's BESS Market

Ms. Lin Xi, Chief Executive Officer of Nanjing NEOVEST Digital Tech Co., Ltd., delivers her presentation at the 6th Vietnam Clean Energy Forum.

Among the highlights of the Forum was the presentation by Ms. Lin Xi, Chief Executive Officer of Nanjing NEOVEST Digital Tech Co., Ltd., entitled "From Scarce Resource to a New Growth Frontier: Unlocking Vietnam's Energy Storage Opportunity". Her presentation examined the development potential of Battery Energy Storage Systems (BESS), international best practices, and collaborative models that could support the growth of Vietnam's energy storage market.

BESS: A Strategic Component of Vietnam's Future Power System

According to Ms. Lin Xi, Vietnam's rapid economic growth and rising electricity demand require greater system flexibility to ensure secure and reliable grid operation as renewable energy penetration continues to increase.

She noted that the Revised National Power Development Plan VIII (Revised PDP8) has, for the first time, established explicit targets for energy storage development, approximately 10-16.3 GW by 2030 and 96 GW by 2050, providing an important policy foundation for the country's BESS market.

The presentation also highlighted three major challenges facing Vietnam's power system: geographical imbalances between generation and demand centers; the variability of renewable energy resources; and the need to strengthen grid capacity to accommodate larger volumes of renewable electricity. In this context, BESS is expected to play a critical role in improving system flexibility, facilitating higher integration of wind and solar power, and enhancing long-term energy security.

The 6th Vietnam Clean Energy Forum, organized by the Vietnam Energy Association (VEA) on July 31, 2026, in Ho Chi Minh City, brought together policymakers, businesses and energy experts to discuss the future of solar power and battery energy storage systems (BESS) in Vietnam.

Lessons from China for Vietnam's Emerging BESS Market

Sharing China's experience, Ms. Lin Xi explained that the country's energy storage industry has evolved through two distinct phases. The first focused on expanding deployment through policies encouraging or requiring BESS integration with renewable energy projects. The second phase emphasized electricity market reforms, ancillary service mechanisms and capacity payment schemes, enabling energy storage projects to become commercially sustainable.

According to NEOVEST, these experiences could provide valuable references as Vietnam continues to refine its regulatory framework and develop a competitive market for energy storage.

AI-Powered Solutions for Smarter Energy Storage Operations

During the Forum, NEOVEST also introduced its Ares AI platform, which integrates Battery Management Systems (BMS), Energy Management Systems (EMS), Digital Twin technology and operational data analytics to optimize charging and discharging strategies, monitor battery health and improve overall system performance.

The company believes that digital technologies and artificial intelligence will play an increasingly important role in enhancing the operational efficiency of BESS projects while helping project owners participate more effectively in future electricity markets.

Representatives of Nanjing NEOVEST Digital Tech Co., Ltd. at the 6th Vietnam Clean Energy Forum.

Proposed Cooperation Model for Vietnam's BESS Industry

NEOVEST also shared its vision for expanding cooperation with domestic and international partners to accelerate Vietnam's energy storage sector.

The company is exploring the establishment of a US$100 million dedicated investment fund for energy storage projects in collaboration with international partners. It also proposed a "Technology + Capital + Operation & Maintenance (O&M)" cooperation model, combining advanced technologies, investment capital and professional operation services to support BESS deployment across Vietnam.

According to NEOVEST, close cooperation among government agencies, investors, technology providers and industry stakeholders will be essential for building a sustainable energy storage market capable of supporting Vietnam's energy transition and improving power system flexibility.

Mr. Li Bin, Chief Technology Officer (CTO) of Nanjing NEOVEST Digital Tech Co., Ltd., joins the panel discussion on "BESS and the Future Power System", sharing perspectives on the conditions needed for large-scale deployment of battery energy storage systems in Vietnam.

Contributing to the Forum's Discussion on Vietnam's BESS Future

In addition to the keynote presentation, Mr. Li Bin, Chief Technology Officer (CTO) of Nanjing NEOVEST Digital Tech Co., Ltd., joined the panel discussion entitled "BESS and the Future Power System." The discussion explored the key conditions required for Vietnam's BESS market to transition from pilot-scale deployment to large-scale commercial investment during the 2026–2030 period.

Mr. Li Bin emphasized that strengthening the regulatory framework, developing ancillary service markets, establishing viable business models and fostering closer cooperation among regulators, investors and technology companies would be critical to enabling the commercial and sustainable development of Vietnam's BESS sector./.