About the market
Vietnam, where renewable power are poised for a significant rise and with 4.4GW solar power successfully installed by the end of June, 2019 and wind power planning to hit 2GW by 2025, 6GW by 2030, is one of the hottest destinations for renewable energy investment in Asia Pacific.
On September 10, 2018, the Prime Minister of Vietnam approved the amendment and revision of the wind power tariffs as per Decision No. 37/2011/QD-TTg issued on support mechanisms for the development of wind power projects in Vietnam. Under the revision, the FIT for wind power projects will be increased to 8.5 US cents/ kWh for onshore and 9.8 US cents/kWh for offshore/nearshore respectively, the new FiTs are in effect since 1 November 2018 and will be applicable for projects that commence operations before 1 November 2021, which made the investors and developers turn back and rush into the wind market again.
According to the master development milestone for wind power sector and comparison with the solar development in Vietnam, given it also takes time to complete the signing of PPA, reach financial closure and commence construction, we anticipated that Q1/Q2 of 2020 will be the golden time for deal making. In addition, with the Planning Law to be unveiled very soon, more than10GW of wind projects will moving forward again. It is time that both local and international players shall join hands to seek the opportunities and tackle the challenges ahead of the industry.
To further push forward the wind power development in Vietnam and facilitate the collaboration between local and international, Neoventure Corporation is planning the ninth RE series event in Vietnam – Vietnam Wind Expo 2020 (VWE 2020) co-located with 2nd Vietnam Wind Energy Summit 2020 (2nd VWES 2020), which will be scheduled at Melia Hotel, Hanoi Vietnam on 10-11 March 2020, the Expo will combine with Large Exhibition, Conference, Technical Forum, Project Match-Making Forum creating a one-stop business matching platform for all industry players to share their knowledge and to expand business contacts in Vietnam’s rapid growing wind energy sector. With Neoventure’s deep digging in Vietnam’s RE sector, Vietnam Wind Expo 2020 will match you with the most qualified participants in the region with real decision power in hand.
We do look forward to seeing you in Hanoi this March!