Allens: Renewables in Vietnam, opportunities for investment
Overview
The demand for electricity in Vietnam is rising rapidly to
power the growing economy. Forecasts predict an annual
growth rate for electricity of ‘near-double’ digits in the
years to come. To keep pace with demand, the Government
has envisioned substantial expansion to the national
power generation capacity and introduced policies to
cultivate the development of renewable energy.
Following an eventful 2020 this year has continued to
witness significant developments for renewables. Last year
the attention gradually shifted from solar to wind. On the
regulatory front, after issuing the long-awaited regulatory
framework for solar power, the Government remains
busy dealing with other issues including master planning,
transmission infrastructure and wind power.
In this section, we provide an overview of the
Vietnamese renewable energy market and discuss recent
developments, as well as the opportunities and challenges
they bring about for investors.