Vietnam

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.

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

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.

Despite political hurdles in key markets including China, India and Japan, Asia-Pacific remains highly active. This year, 59 GW of solar is expected to be installed and due to further system price declines, a phase-out of subsidy schemes can be offset.

In what marks another major PV project announcement for Vietnam, the Germany-based company will supply equipment for a 258 MW PV system, and commission it upon its completion, scheduled for mid-2019.

Chinese manufacturer, JA Solar has secured a long-term buyer credit loan facility worth US$68.4 million for the procurement of equipment for its 1.5 GW wafer facility in Vietnam.

Grimm Power and Xuan Cau began construction on two solar PV plants in the southern province of Tay Ninh.

The 10 members of the Association of Southeast Asian Nations (ASEAN) are on track to make solar and other renewables account for 23% of the region’s total primary energy supply (TPES) by 2025, but governments will need to create better policy and investment frameworks to make it happen, according to the International Renewable Energy Agency (IRENA).

The Singapore-headquartered renewable energy developer signs agreement to jointly develop large-scale solar farm in Vietnam’s Ninh Thuan province with InfraCo Asia Development Pte.

Australian stock exchange-listed battery maker Redflow has announced a AU$14.5 million ($11.25 million) funding round, as the Brisbane-based company takes its manufacturing base offshore and turns its attention to a market “sweet-spot” including the off-grid, telecom, commercial and industrial sectors.