Vietnamese solar industry must increase investment to protect long term performance

Published onApril 2, 2020

While solar development has boomed under Feed-in Tariff (FiT) support in Vietnam, there now needs to be equal investment into mature asset management processes and technologies in order to retain investor confidence in the emerging markets. This is according to Alectris, the global operations and maintenance (O&M) provider for the solar industry and developer of industry-leading renewable energy ERP software, ACTIS. Vietnam has recently become a hotspot for solar projects in Asia, with 2019 seeing an unprecedented boom of 4.5GW added to the grid, driven by favorable FiT rates. However, with the uplift in demand leading to grid congestion challenges, some projects have been subject to long curtailment periods, leading to lower levels of bankability than originally forecast.