Vietnam has become a leader in clean energy solutions, with the highest installed capacity of solar power in Southeast Asia, generating 16,500 megawatts at the end of 2020 and ranking among the top 10 countries in the world with the highest installed capacity of solar energy.
Given Vietnam’s high solar potential, together with its ambitious goals for the future, the country is predicted to further advance its position in the renewables industry. There is a strong case for wind power projects, given that the country has one of the best wind resources in Southeast Asia, with a potential of 311 GW. According to market experts, if Vietnam maintains the growth rate in renewable energy that it experienced over the last two years, it will be able to overtake countries such as Australia and Italy in renewable energy development and innovative energy solutions.
An interesting recent development to highlight in this area took place in August 2021, when Thai power generation company B.Grimm Power Plc announced USD 91 million in funding for solar and wind energy development in Thailand and Vietnam raised through green debenture offerings.
(Sources: Vietnamplus, Vietnam Investment Review)