Vietnam’s DPPA gains traction as corporates embrace green power deals

Korea and Vietnam signed renewable energy cooperation agreements during a bilateral summit, strengthening ties in solar, wind, and storage projects. Additional MOUs cover nuclear energy human resource development and critical mineral supply chains. Backed by a USD 12 million program, the initiatives aim to accelerate Vietnam’s energy transition and deepen economic partnership.

Vietnam’s Hoa Sen Group has partnered with Singapore’s SP Group to deploy a Cooling-as-a-Service (CaaS) system and 17.6MWp of rooftop solar across two major steel plants. The initiative will cut cooling electricity use by over 30% and reduce emissions by 14,000 tons annually. It supports Vietnam’s 2050 net-zero target through energy efficiency and clean energy adoption.

Keppel and the Asian Infrastructure Investment Bank (AIIB) have partnered to facilitate up to US$1.5 billion in sustainable infrastructure investments across Asia-Pacific by 2030. The five-year collaboration will target green, tech-enabled projects in energy, transport, and urban services, addressing the region’s growing infrastructure needs amid rapid urbanization and digitalization.

The ASEAN Centre for Energy received a $7.7 million World Bank grant to advance the ASEAN Power Grid, aiming for operation by 2045. The funding supports technical studies, project preparation, and ACE’s capacity to coordinate regional power trade under the ASEAN Vision 2020 framework.