Vietnam is set to expand its solar and wind capacity as a supportive regulatory environment and growing investor confidence spur on new project development, according to consultancy Fitch Solutions.
Vietnam will prioritise the development of renewables as the country’s government announces its ambition to invest around US$130 billion in new power plants and transmission networks over the next ten years.
Solar and wind power represent a US$1 trillion investment opportunity in Asia Pacific this decade, equivalent to two-thirds of the region’s power generation sector, as countries move away from fossil fuel generation in favour of greener alternatives.
One of the first large-scale solar farms in Japan so far to be equipped with battery storage in order to meet the requirements of a local grid operator and utility, has been completed on the island of Hokkaido.
Five large solar farms in Australia that have operated under grid constraints since September 2019 have had those restrictions lifted, following the rollout of new inverter settings.