Vietnam’s CME Solar Investments has formed a joint venture with Vista Global, a subsidiary of Samsung C&T under the South Korean tech conglomerate Samsung, to advance rooftop solar energy development in Vietnam. The CME-Vista partnership aims to accelerate the growth of rooftop solar projects across the country and encourage the widespread adoption of clean energy.
At a sustainability-focused investment conference in Ho Chi Minh City in early 2024, Samsung expressed its commitment to developing rooftop solar power in collaboration with the city and shared its vision of transforming Saigon Hi-Tech Park into Vietnam’s first net-zero hi-tech park.
Vietnam recently introduced Decree 80, which enables direct power purchase agreements (DPPA) between renewable energy producers and large-scale consumers. This decree allows energy companies to purchase electricity directly from generation firms, particularly those with foreign investment.
In the meantime, major businesses, including foreign-invested firms, have begun negotiating with power generators for direct energy purchases through Vietnam Electricity (EVN)’s transmission network.
Vietnam’s Ministry of Industry and Trade has drafted a decree on self-produced and self-consumed rooftop solar power, which could create new opportunities for companies in the renewable energy sector. The draft suggests that installations not feeding excess power into the national grid may avoid capacity limitations, offering a significant benefit for businesses.
These measures are part of broader efforts to attract investment in Vietnam’s renewable energy sector, particularly in rooftop solar power. A CME representative noted that the joint venture would leverage Vista Global’s financial strength and advanced energy technology, combined with CME’s local expertise, to deliver high-performance solar solutions. This will contribute to Vietnam’s goal of achieving net-zero emissions by 2050.
(Source: Tuoi Tre News)