Solar power: New Investment Fever

Solar power: New Investment Fever

Investing in solar power is a new boom in Vietnam as there are hundreds of registered projects with total investment capital of billions of dollars in just a short time to enjoy the preferential price level of 9.35 cents / kwh (2,086 dong).

Investment in Vietnam - Since April 2017, the number of investment projects registered in the field of solar energy has increased rapidly. Statistics from the United States Agency for International Development's Energy Program (USAID) show that, by the end of July 2017, hundreds of solar energy projects had been registered to invest in Vietnam with a total capacity of up to 17,000 MW.

By the end of December 2017, Phu Yen People's Committee has written proposal to the Ministry of Industry and Commerce to add 3 solar projects into national power planning. With a total investment capital of more than VND 3,600 billion and a total capacity of 150 MW, the three projects are expected to be built in Tay Hoa and Dong Hoa districts on an area of over 50 hectares for each project. Besides, the three proposed, Phu Yen People's Committee said that more than 10 sites have been available to investors in the field of solar energy. Most of these projects are expected to be approved for investment soon and come into operation in the second quarter of 2019.

According to the solar power potential map provided by the World Bank, Vietnam's solar power resources are abundant, with a radiant heating of about 2,056 kW / m2 / year and extends from the central provinces to the Mekong Delta.

However, one of the biggest hurdles of solar power projects lies in the land area. Unlike thermal or wind power, solar projects require a very large area of land for installing energy panels. In a country with a high population density such as Vietnam, finding large areas of land without affecting the planning of the population and agricultural land is not easy, which is a incurable disease for investment projects in Vietnam.


Related news