Vietnam

With Narendra Modi being tipped to triumph again in the current Indian elections, Indian solar capacity is expected to grow robustly, at 15.3% per year, on the back of continued strong government support.

In the latest tariff spat to afflict the solar world, India’s Directorate General of Trade Remedies will investigate a claim steel products coated with aluminum and zinc are being dumped by Far Eastern manufacturers.

The thin film PV maker reported solid year-end 2018 results, with future bookings extending out four years and the fourth of five Series 6 factories already online.

World Bank sister organization the IFC has made a $75 million commitment to a green bond recently issued by Philippines based developer AC Energy. Vietnam’s sub-standard financial sector performance has prompted the Asian Development Bank to suggest green bonds could best leverage the country’s renewable energy targets.

With its feed-in tariff set to expire at the end of June, Vietnam is considering different levels of payment, classified across three irradiation regions and involving four solar technologies. Future payments would range from $0.0659-0.0985/kWh, with the cloudy north in line for the highest tariffs and with the government likely to revise tariffs for new projects every two years.

More predictions from IHS Markit reveal that 123 GW of solar PV installations are expected in 2019 – up 18% on the capacity additions expected this year. It also sees a market shift away from China, with two thirds of capacity located elsewhere. The overcapacity situation is also expected to ease.

The bank continues its involvement in Thailands largest IPP B.Grimm, which is set to grow its renewable energy portfolio. According to ADB, the green bond proceeds will go to nine operational solar PV plants with a cumulative rating of 67.7 MW, and 30.8 MW that are currently still under construction.

According to a report published by the Asian Development Bank (ADB), key factors such as the low-regulated price of electricity and uncertainty of the creditworthiness of Vietnam’s state-owned utility EVN are making it difficult to develop bankable solar and RE projects. An improved fiscal energy policy is recommended as the only way to provide the local energy sector with long-term capital and competence in conducting green credit appraisal. Furthermore, the report warns that the current 20-year FIT of US$0.0935/kWh for solar projects is too low.

The Chinese-based manufacturer has closed a deal for the supply of its inverter solutions to the large-scale solar project in southern Vietnam. Sungrow says it has deployed a total of 1 GW of solar projects in Vietnam.

German renewables developer Juwi has signed a contract to provide EPC services for a 50 MW project located near to the coast in central Vietnam’s Binh Dinh province. This project brings Juwi’s pipeline in the Southeast Asian country to 130 MW.