On the 6th of April, Indochina Energy Partner participated in World Clean Energy Conference.
The event is organized by Escom Events and the Global Zero Carbon Partnership – a community that connects business leaders intending to move towards the “Forging the Energy Transition Path Towards Net Zero’’ theme. As one of the speakers at the conference, the Managing Director of Indochina Energy Partners, Mr. Thomas Jakobsen had the opportunity to speak on the topics:
- Investment Potential for Rooftop Solar Power
- Panel Discussion: What More Needs to be Done in Vietnam to Unleash its Renewable Energy Potential.
Thomas stated that Vietnam’s electric power industry is growing stably, contributing significantly to economic, industrialization, and social growth. However, the “duck curve” effect has become more pronounced as the country’s solar power capacity has increased rapidly. The peak electricity demand in Vietnam typically occurs in the afternoon and solar power, therefore, keeps the net peak demand down but at the risk of oversupplying solar power at mid-day.
IEP’s 3 main products are:
- Direct Power Purchase Agreement (DPPA)
- Rooftop Solar (RTS)
- Battery Energy Storage System (BESS).
Thomas stressed the importance of the business community supporting the government and EVN in cleaning up the mess of renewables in Vietnam.
- Roof Top Solar. All non-compliant projects should be disconnected and the proceeds used for giving a very low FiT (3-4-5 cents) to derisk new projects.
- DPPA should be adopted as per EVNs suggestion. Projects should be allowed to be developed outside the PDP8 as no FiT is involved, and the market will correct oversupply.
- For BESS, EVN should make simple rules for “behind the meter” applications, a la decision 13 for Solar. No incentives are needed.
Thank you to Escom Events and Global Zero Carbon Partnership for hosting an innovative conference.