PNG Solar, a leading player in the global renewable energy sector, successfully kicked off its participation at Solar & Storage Live Vietnam 2026, which is being held from July 8-9th at the SKYEXPO Convention Center in Ho Chi Minh City.
This exhibition marks a milestone in PNG Solar's localized strategy. Beyond showcasing cutting-edge products of N-type Topcon 650w bifacial solar module and lithium battery 51.2V 200Ah at Booth 2-K09A, the company is focusing on building long-term partnerships with local EPC contractors, developers, and distributor.
Vietnam has emerged as one of Southeast Asia's most dynamic solar markets, driven by aggressive policy targets and rapidly improving project economics. The country's solar installed capacity reached 19.5 GW in 2025, with forecasts projecting growth to 37.63 GW by 2031 at an 11.58% CAGR-1.
Policy Framework & TargetsThe revised Power Development Plan VIII (PDP8), approved in April 2025, dramatically expanded Vietnam's solar ambition. Solar capacity targets were raised to 46.5–73.4 GW by 2030—more than quadrupling the original plan—while battery energy storage system (BESS) targets surged from 300 MW to 10,000–16,300 MW-1-2. A key policy shift mandates that new utility-scale solar projects integrate storage capacity equivalent to at least 10% of installed capacity with two-hour discharge duration-1-3.
Market DriversThe Direct Power Purchase Agreement (DPPA) mechanism, established under Decree 80/2024, has unlocked corporate demand by allowing large industrial consumers (above 200,000 kWh/month) to negotiate renewable power contracts directly-1. Within six months, 24 projects totaling 1.77 GW entered the approval queue, with textile, electronics, and food processing sectors driving uptake-1. Hyperscalers like Google and Microsoft are expected to contract nearly 300 MW of dedicated solar capacity by 2027-1.
Vietnam also boasts the world's most competitive PV manufacturing hub outside China, with TOPCon module production costs at $0.180/W in 2025, projected to fall to $0.171/W by 2030—competitive with Chinese costs and significantly below India ($0.191/W), Australia ($0.256/W), and Germany ($0.284/W)-4-12.
Key ChallengesGrid congestion remains a major constraint. Southern provinces like Ninh Thuan and Binh Thuan already produce solar output exceeding local demand, forcing curtailment of 15–25% during dry-season peaks-1. The 500 kV transmission backbone operates near thermal limits, and the planned $15 billion HVDC reinforcement will not be fully operational until 2027-1-3. Additionally, a dispute over retroactive tariff cuts affecting 173 renewable energy projects (approximately 12 GW) has created uncertainty for project financing, though payments have recently resumed-3.
OpportunitiesRooftop solar is gaining momentum with new policies raising the surplus electricity sales cap from 20% to 50% under Decree 243/2026-9. Storage presents the most compelling opportunity—the 10,000–16,300 MW BESS target represents a 3,000%+ increase from the original plan, with pilot projects already underway through EVN in collaboration with ADB and GEAPP-2-11. Solar-plus-storage hybrid projects can capture evening-peak tariffs 30–40% above midday rates, significantly improving project returns despite additional storage capex of $200–250/kWh
PNG Solar is dedicated to being a long-term partner in Vietnam's journey toward net-zero emissions. We welcome you to visit our booth and discuss how we can power Vietnam’s green future together.
- July 09, 2026
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