The role of commercial and industrial clean energy demand in Vietnam’s power sector

Renewable Energy in Manufacturing

by Rachel Posner Ross and Evan Scandling

Introduction

At a time when Vietnam’s electricity demand is surging in response to commercial, industrial, and population growth, a common concern has emerged that rising economic activity will shift carbon emissions from China and other manufacturing hubs to Vietnam. However, our experience through the Clean Energy Investment Accelerator (CEIA) initiative in Vietnam indicates that private-sector demand for renewables has the potential to overcome policy barriers and catalyze significant scaling up of clean energy deployment in emerging markets. Vietnam’s 2019-2020 rooftop solar boom and anticipated surge in wind and solar virtual power purchase agreements for corporate offtakers in 2020 and beyond are the results of public-private collaboration on issues that simultaneously advance government and private-sector interests, offering important lessons for other markets in pursuit of sustainable development.

Background

Vietnam is a developing economy with a population of nearly 100 million and annual GDP growth of 6 to 7 percent, making it one of Asia’s fastest-growing economies, which has been true for decades. Foreign direct investment (FDI) was close to $18 billion in 2018, which accounted for approximately 24 percent of total investment in the economy.1 More than 10,000 foreign companies are estimated to operate or have supply chain manufacturing in Vietnam, including many of the world’s largest companies from a variety of sectors.2 For decades, Vietnam has been home to labor-intensive industries such as apparel and footwear production. Many of the world’s

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This report is produced by the Center for Strategic and International Studies (CSIS), a private, tax exempt institution focusing on international public policy issues. Its research is nonpartisan and nonproprietary. CSIS does not take specific policy positions. Accordingly, all views, positions, and conclusions expressed in this publication should be understood to be solely those of the author(s). © 2020 by the Center for Strategic and International Studies. All rights reserved

Renewable Energy Buyers Vietnam Working Group: Webinar Series

Hosted by the Clean Energy Investment Accelerator (CEIA) and USAID Vietnam Low Emission Energy Program (V-LEEP)

May 28 – Webinar #3:       Banking and Financing for Commercial and Industrial Rooftop Solar

This webinar will bring together banks and financial institutions across Vietnam’s C&I rooftop solar sector. Key topics will include:

o   Case studies and experiences from the financial sector on lending to C&I rooftop solar projects in Vietnam and across Southeast Asia.

o   Key challenges and barriers for local commercial banks to execute loans.

o   Key lessons learned and potential improvements to accelerate future lending.

⮚       Please RSVP to Webinar #3 here

 May 29 – Webinar #4:       Promoting A Gender Inclusive Workforce In Large-Scale Renewable Energy Projects

This webinar will bring together personnel and human resources from the renewable energy community engaged, or exploring engagement, in Vietnam’s Gender Equality. Speakers will include:

o   Gender Toolkit from V-LEEP: Promoting A Gender Inclusive Workforce In Large-Scale Renewable Energy Projects.

o   Observation and practical experiences shared from attendants on efforts to increase number of women’s participation in workforce.

o   Plan ahead to apply or refer to Gender Toolkit for higher social responsibility.

Ø  Please RSVP to Webinar #4 here

Clean Energy Investment Accelerator (CEIA) Southeast Asia newsletter

Climate Currents

Welcome to our Clean Energy Investment Accelerator (CEIA) Southeast Asia newsletter. This quarterly communication is designed to keep you up-to-date on our latest progress, resources, events, and relevant corporate clean energy news across Southeast Asia. We look forward to staying in touch!

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CEIA PROGRESS ACROSS SOUTHEAST ASIA

VIETNAM

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Renewable Energy Buyers Vietnam Working Group: Webinar Series

Hosted by the Clean Energy Investment Accelerator (CEIA) and USAID Vietnam Low Emission Energy Program (V-LEEP)

Due to travel and meeting restrictions related to COVID-19, this webinar series is temporarily replacing the in-person Renewable Energy Buyers Vietnam Working Group normally held in Ho Chi Minh City on a quarterly basis.

BACKGROUND

The Renewable Energy Buyers Vietnam Working Group is co-organized by the Clean Energy Investment Accelerator (CEIA) and the USAID Vietnam Low Emission Energy Program (V-LEEP). Since 2017, the Working Group has brought together commercial and industrial (C&I) energy users interested in procuring clean energy, as well as renewable energy project developers and investors, and Government of Vietnam representatives.

The recurring Working Group is a platform for corporate RE market stakeholders to collectively identify and work toward policy, regulatory and financing frameworks needed to meet clean energy goals in Vietnam.

This four-part webinar series, spread across the last three weeks of May 2020, is an important opportunity to virtually convene market stakeholders during a pivotal phase of Vietnam’s clean energy transition.

WEBINAR OVERVIEWS

Each webinar will begin at 9:00AM ICT unless otherwise specified.

May 14 – Webinar #1:       Vietnam’s Direct Power Purchase Agreement (DPPA) Pilot Program

This webinar will feature updates about the DPPA pilot program, including:

o   Legislation approval status including an update on the Prime Minister Decision and MOIT Decision.

o   Transaction agreements, DPPA charge and operational gap analysis.

o   Applicant guidelines, including: evaluation criteria, pilot program rules, and the application process
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Fear? Cost? Fame? What’s turning on Asian businesses to renewable energy?

eco-business.com

What is the main the reason corporations are buying renewable energy? Cost saving? Compliance? The goodness of their hearts?

The first is obvious—savings. I have never seen any company adopt renewables purely out of altruism. There’s always a commercial angle. Owners of large real estate portfolios try to monetise their “rooftop assets”, other companies want to diversify their energy source, or simply adopt solar to hedge against rising energy costs.

Businesses hardly ever adopt renewable energy for altruistic reasons, but does that matter? In this interview with Eco-Business, Lionel Steinitz, CEO of LYS Energy, talks about why firms go green, and how Southeast Asia can unlock its solar potential.

Lionel Steinitz, the founder and chief executive of Singapore-based renewable energy firm LYS Energy Group, came to Singapore nearly 20 years ago and spent his first year in the city-state serving the French army.
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