Inheriting research & development background since 1975, SolarBK is proud to be a pioneer in laying the groundwork for clean energy industry in Vietnam and is now a leading company in this field.
To carry out the mission of applying clean energy into everyday life, we have researched and developed many solutions to make Solar power energy more diverse, convenient and cheaper.
Mr. Nguyen Duong Tuan and Mr. James Rama Phataminviphas at the Esco NEXT's Establishment Ceremony
A) VIETNAM'S RENEWABLE ENERGY MARKET UPDATES I. Policies and Regulations: Decision No. 618/QD-BCT: Updates to National Power Development Planning On March 5, 2025, the Ministry of Industry and Trade issued Decision No. 618/QD-BCT, approving updates to Vietnam's National Power Development Plan (PDP8) for 2021–2030, with a vision extending to 2050. Key updates include:
Reintegration of Solar Projects: The plan restores 142 previously suspended power projects, including large-scale solar farms with a total capacity of approximately 9,500 MW. This step aims to prevent resource wastage and strengthen investor confidence in Vietnam's renewable energy sector.
Adjustments to Offshore Wind and LNG Projects: Offshore wind projects initially planned for 2030 are deferred to 2035, aligning with longer-term goals. The revised plan also reduces the role of liquefied natural gas (LNG) in the energy mix for this decade.
Coal and Solar Expansion: To meet anticipated power demand, projected to exceed 211 GW by 2030, the plan emphasizes increasing coal-fired power generation while more than doubling solar power capacity to 30.4 GW by 2030. (1)
Decree No. 57/2025/ND-CP: Direct Power Purchase Agreements (DPPA) Issued on March 3, 2025, Decree No. 57/2025/ND-CP establishes a comprehensive legal framework for direct power purchase agreements between renewable energy generators and large electricity consumers. This decree facilitates direct transactions, provides guidelines on contract terms and pricing mechanisms, and aims to stimulate investment in renewable energy by creating a more dynamic and competitive electricity market. (2)
Decree No. 58/2025/ND-CP: Regulations on Renewable and New Energy Development Also enacted on March 3, 2025, Decree No. 58/2025/ND-CP provides detailed guidance on implementing the Electricity Law concerning the development of renewable and new energy sources. It outlines key requirements and bankability provisions for power projects, impacting the structuring and financing of renewable energy initiatives in Vietnam. (3)
Decision No. 378/QD-EVN: Technical Requirements for Rooftop Solar Power Systems On March 12, 2025, Vietnam Electricity (EVN) released Decision No. 378/QD-EVN, specifying technical requirements for connecting self-produced, self-consumed rooftop solar power systems to EVN's data acquisition, monitoring, control, and metering systems. This decision ensures the safe and efficient integration of rooftop solar installations into the national power grid. (4)
Decision No. 429/QD-EVN: Rooftop Solar Power Connection Procedures On March 27, 2025, Vietnam Electricity (EVN) issued Decision No. 429/QD-EVN, detailing the procedures for connecting rooftop solar power systems in accordance with Decree No. 58/2025/NĐ-CP. This decision aims to streamline administrative processes, establish clear technical standards, and delineate the responsibilities of all parties involved in the connection and operation of rooftop solar systems. (5)
Vietnam's Carbon Market Roadmap: On March 5, 2025, Indochine Counsel released an industry spotlight detailing Vietnam's roadmap for establishing a carbon market. This strategy aims to regulate carbon emissions and promote sustainable business practices, aligning with the country's commitment to achieving net-zero emissions by 2050. Indochine Counsel
Consultation on National Standards for Energy Storage Systems: On March 27, 2025, Ho Chi Minh City hosted the second consultation workshop on developing national standards for Battery Energy Storage Systems (BESS). This initiative, supported by the United Nations Office for Project Services (UNOPS), the Southeast Asia Energy Transition Partnership (ETP), and the Directorate for Standards, Metrology, and Quality (STAMEQ) under the Ministry of Science and Technology, aims to enhance the quality and safety of energy storage projects, thereby promoting the sustainable growth of renewable energy in Vietnam. tapchicongthuong.vn
II. Technologies and Innovaties: Introduction of Integrated Solar Energy Storage Solutions: On March 27, 2025, during the Customer Conference organized by Quang Ninh Power Company, SolarBK introduced self-consumption solar energy solutions and energy-saving investment programs. These solutions include IREX solar panels, VinFast Energy storage systems, and ERIS energy management software, all designed to help businesses and households optimize electricity costs and ensure a stable power supply.
Mr. Doan The Ninh, SolarBK's Northern Representative at the 2025 Customer Conference by Quang Ninh Power
Vietnamese Enterprises Accelerate Green R&D Investments: Vietnamese companies are increasingly investing in research and development to drive their green transition.These efforts focus on developing sustainable technologies and practices to reduce environmental impact, reflecting a broader commitment to environmental responsibility within the manufacturing sector. vietnamnet.vn
Exploring VINFAST Battery Energy Storage System : Representatives from SolarBK and Banpu NEXT visited VinFast's Hai Phong factory to tour Vietnam's largest rooftop solar power system. Developed by SolarBK, this project highlights the joint efforts in promoting clean energy usage, reducing emissions, and advancing sustainable development. The visit also included an introduction to VinFast's Battery Energy Storage System (BESS), showcasing their commitment to optimizing and increasing the share of clean energy in Vietnam. Read more
The representatives of SolarBK, Banpu NEXT and VinFast
Investments: Potential Risks to Renewable Energy Investments In March 2025, over two dozen foreign and Vietnamese investors, including Adani Green Energy, expressed concern over Vietnam's potential policy changes regarding subsidized prices for solar and wind energy. They warned that retroactively altering feed-in tariffs could jeopardize over $13 billion in investments, undermine financial stability, and erode investor confidence, posing risks to the country's renewable energy expansion plans. Reuters
Vingroup Ventures into Renewable Energy and LNG Power On March 25, 2025, Vingroup, Vietnam's largest conglomerate, announced plans to develop renewable energy and liquefied natural gas (LNG) power plants. This marks Vingroup's inaugural foray into the energy sector, signaling a significant diversification of its business portfolio.
Vingroup proposed seven renewable energy projects worth $20-25 billion, including a massive 8,000 MW floating solar project on the Son La hydropower reservoir. These projects aim to significantly boost Vietnam's clean energy capacity. theinvestor.vn
B) SOLARBK'S ACTIVITIES Establishment of Esco NEXT Joint Venture: On March 6, 2025, SolarBK and Banpu NEXT Company Limited officially launched Esco NEXT, a joint venture aimed at providing at least 390 MW of rooftop solar power to Vietnam's commercial and industrial sectors. This collaboration underscores SolarBK's commitment to expanding clean energy solutions in the region. Read more
Partnership with HCMC Green Business Association (HGBA): On March 26, 2025, SolarBK announced its collaboration with the HCMC Green Business Association (HGBA) to promote clean energy and sustainable development. This partnership aims to support SMEs in their green transition, organize workshops and exhibitions on clean energy solutions, and provide ESG consulting and access to green investment funds.
Mr. Nguyen Duong Tuan at the Official Establishment Ceremony of HGBA
SolarBK Partners with Sedo Vinako to Deploy Rooftop Solar System SolarBK collaborated with Sedo Vinako to install a rooftop solar power system with a capacity of 1,624.7 kWp at their factory in Quảng Nam. This initiative aims to reduce operational costs and meet green criteria, enhancing competitiveness in international markets. The system is expected to generate approximately 2,200 MWh annually, reduce CO₂ emissions by 1,600 tons per year (equivalent to planting 78,000 trees), and earn 2,300 I-REC certificates each year, facilitating exports to European and American markets. Read more C) VIETNAM'S MANUFACTURING SECTOR Manufacturing Sector Growth: In the first two months of 2025, Vietnam's Index of Industrial Production (IIP) increased by 7.2% compared to the same period in the previous year. The manufacturing and processing industry saw a 9.3% rise, contributing significantly to the overall growth. This growth underscores Vietnam's strengthening position as a global manufacturing hub. Vietnam Briefing
Development of Green Steel Products: Vietnam is targeting the development of green and energy-saving steel products. The draft strategy for developing Vietnam's steel industry until 2030 emphasizes increasing the market share of domestically produced steel to gradually replace imports, aligning with sustainable manufacturing goals. vietnamnews.vn
Challenges in the Garments and Textiles Sector: The green transition poses challenges for small and medium-sized enterprises (SMEs) in Vietnam's garment and textile industry. Adapting to sustainable production processes requires overcoming financial and technical hurdles, highlighting the need for support and resources to facilitate this transition. Vietnam Investment Review - VIR
D) CONCLUSION SolarBK continues to shine as a leader in driving Vietnam toward net-zero carbon emissions. Coupled with national progress in regulatory frameworks and innovative projects, March has been a month of substantial growth and promise for a sustainable future.
