Vietnam plans solar power generation equipment

How much solar capacity does Vietnam have?

As of 2020, solar and wind capacity in Vietnam was 16.6 gigawatts (GW) and 0.6 GW, respectively. Under the draft PDP 8, Vietnam plans to increase solar capacity to 18.6 GW and wind capacity to 18.0 GW by 2030. Vietnam’s underdeveloped grid hampers these capacity additions.

Can Vietnam achieve 12 GW of solar power capacity by 2030?

To meet the countrys target of having 12 GW of solar power capacity installed by 2030, the Government of Vietnam should consider a deployment strategy that builds experience, lowers costs, and maximizes economic benefits.

How many jobs will a solar PV project create in Vietnam?

6.2.2 Potential Creation of Jobs The 12 GW PV target is expected to support as many as 25,000 full-time jobs in project development, services and O&M annually in the period through 2030 (figure 6.2). Solar PV–related employment in Vietnam will derive from (i) development and operation of solar PV power plants, and (ii) manufacturing of equipment.

How many solar PV systems are installed in Vietnam?

In 2019 and 2020, more than 100,000 rooftop solar PV systems were installed in Vietnam (Electricity of Vietnam, 2020). While most ASEAN countries share similar opportunities, they have yet to experience the rapid progress in solar and wind development seen in Vietnam.

How to finance solar projects in Vietnam?

5.2.3 Leveraging International Financing and Investments Owing to the current contractual structure proposed by the government, most solar projects in Vietnam are expected to be financed under a corporate loan or at 100 percent equity, with refinancing possible at a later stage.

Is solar power a viable energy generating option for Vietnam?

EXECUTIVE SUMMARY Solar power is an increasingly attractive electricity generating option for Vietnam thanks to recent cost reductions, fast construction, and the contribution solar power can make to ensuring energy security and environmental sustainability.