Southeast Asian countries have more than 3,200 kilometers of coastline and high-intensity solar radiation. Vietnam is tapping the potential by preparing regulatory frameworks and investing in transmission networks.
 
In view of its advantages, Vietnam has introduced many policies and plans to attract investors and promoted their investment in this industry which aims to become a major component of the country's power structure by 2030 and beyond.
 
According to the data of Vietnam Electric Power Company (EVN), as of August 2020, the total capacity of wind and solar energy increased by the plan will reach 23 GW, including 11.2 GW of solar energy. EVN is a state-owned power company and the only buyer of renewable energy. The government plans to establish a competitive electricity market, which is planned to realize wholesale in 2021 and retail in 2023.
 
Up to now, about 102 solar energy projects have been connected with a capacity exceeding 6,314 MW peak (MWp), including nearly 90 projects with a capacity of 4,000MWp in the second quarter of 2020. The report shows that up to 7,000MW (7GW) of new solar capacity has been approved, and another 13GW is awaiting approval.