Vietnam

Although only four PV plants with a combined capacity of 150 MW were grid connected by mid-April, the Vietnamese government expects another 88 FIT-entitled solar facilities to come online by the end of next month. By Sunday, 34 projects with a combined capacity of 2.2 GW had already arrived on top of the mid-April connections.

Renewable energy investment in the Asia-Pacific region, excluding China, will overtake spending on oil and gas exploration and production by 2020, finds Norwegian consultancy Rystad Energy. And Australia is set to emerge as one of the leading investment destinations.

While the world’s biggest solar manufacturers are confident there are plenty of alternative markets for a rising volume of panel exports, the message spelled out by first-quarter shipment figures is that protectionism works.

Scatec wants to expand in Southeast Asia and Vietnam is poised to become a hot market thanks to a generous feed-in tariff and a government that has set tight carbon emission targets.

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.