News and Updates

Vietnam’s chemical giant Stavian Group will invest $22 million in making battery energy storage system (BESS), in order to promote green and clean energy development and sustainable energy industrialization in the country.

Stavian Energy Solutions and Stavian Industrial Park, two units of Stavian Group, have signed a deal for the former to lease infrastructure of the latter to manufacture BESS, electric vehicle charging equipment, and electric cables.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: Stavian

Prime Minister Pham Minh Chinh has laid stress on the need to complete the resolution of obstacles for renewable projects by February 2025 to prevent wastefulness, contributing to ensuring electricity for development.

Chairing a hybrid conference on announcing and implementing the Government’s resolution on removing bottlenecks for the projects on December 12, the PM underscored that to achieve the country's targeted 8% economic growth in 2025, position itself for potential double-digit growth in 2026-2030, and enter a new era – the era of the nation’s rise, Vietnam must capitalise on all resources, including renewable energy infrastructure.

He called on the energy sector to ensure that electricity generation grows 1.5 times faster than economic growth, which means an annual growth rate of at least 12%.

With investments in renewable energy projects totaling more than 308 trillion VND (13 billion USD), delays in putting projects into operation waste immense social resources, he said, stressing while past implementation errors must be handled, it is a must to facilitate project continuation.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: VNA

Vietnam’s National Assembly has approved a revised Electricity Law focusing on fair pricing, renewable energy oversight, and a phased roadmap to eliminate cross-subsidies.

The revised Electricity Law, approved by the National Assembly on November 30, introduces significant updates to Vietnam’s energy policy, including a phased approach to ending cross-subsidies in electricity pricing. The law will take effect on February 1, 2025.

The revised law encompasses six main areas: power planning and development; renewable and new energy sources; conditions for electricity operations, including licensing and revocation; electricity trading activities; system management and operation; and safety standards for electricity use and hydropower dams.

One of the law's notable provisions addresses the elimination of cross-subsidies in electricity pricing. The Standing Committee of the National Assembly emphasized the importance of reducing and eventually eliminating cross-subsidies between customer groups and regions to create a more equitable pricing structure.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: Vietnam National Assembly

BCPG Plc, the power generation arm of energy conglomerate Bangchak Corporation, is preparing to spend more than 32 billion baht next year to fund investments in Thailand and overseas, paving the way for greater use of clean energy.

The amount is 10 times more than the company's capital spending in 2023, which totalled 3.2 billion baht.

"We plan to allocate 18.7 billion baht of the 2025 budget for new investment projects," said Niwat Adirek, president and chief executive of BCPG.

Among the investments are solar and wind farms in Laos and Vietnam.

In Thailand, the company plans to invest in projects to sell electricity to the manufacturing sector.

BCPG announced earlier it was expanding in Southeast Asia, with the latest move to acquire shares worth 4.5 billion baht in two wind farms with combined electricity generation capacity of 99 megawatts in Vietnam.

The two wind power projects, both located in Gia Lai province in central Vietnam, represent the second asset the company has acquired after investing in a wind farm in Laos.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: Bangkok Post

Vietnam announced plans to boost its generation capacity to 183–236 GW by 2030, requiring $136 billion in investment. The plan includes the development of nuclear power by 2030–2035, a strong focus on renewables, and transmission upgrades. The move aims to support rising electricity demand and ensure energy security.

Over $13 billion in solar and wind investments in Vietnam are at risk as investors warn that proposed retroactive tariff changes could damage financial stability and erode long-term investor confidence.

More than two dozen foreign and Vietnamese investors, including Adani Green Energy, have warned Vietnam's plans to retroactively change rules on subsidised prices for wind and solar energy could affect more than $13 billion of investments.

In a letter to Vietnamese leaders dated March 5 and reviewed by Reuters, the investors expressed "deep alarm" about the possible end of favourable energy tariffs, noting the policy change could undermine broader financial stability and erode confidence in Vietnam at a time when the country plans to significantly expand its renewables capacity.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: Reuters

The Lao Government and Chitchareune Construction Co., Ltd. on February 13 signed an agreement to develop a 1,200 MW wind power plant in Nong district, Laos’ Savannakhet province which aims to supply electricity to Vietnam from late 2027.

The signing ceremony saw the participation of Vietnamese Ambassador to Laos Nguyen Minh Tam; Lao Minister of Planning and Investment Phet Phomphiphak; representatives of the Lao Government Office and the Ministry of Energy and Mines, agencies and units of Vietnam and Laos.

In order to support energy security for Vietnam and meet the growth needs of the Lao economy, Chitchareune Construction Co., Ltd. has coordinated with authorities and consulting companies to research and develop the Nong wind power plant t on a surveyed land area of nearly 28,500 ha.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: VNA