baker mckenzie

Four years on from the birth of its solar boom, Vietnam’s large-scale solar industry has been stunted by a lack of generic power purchase agreements.

Vietnam’s second solar FiT could be cut short in favour of an auction model after Nguyen Xuan Phuc issued an order highlighting MOIT's shortcomings in handling the roll-out of solar power.

Vietnam’s solar industry breathes easier after grid upgrades are completed ahead of schedule, but much work remains.

Whilst African solar is still firmly an emerging market, investors have confirmed that issues remain with development finance, insofar as it is holding back the market from truly taking off. Whilst development finance institutions (DFIs) are a crucial part of allowing the market to find its feet, the continent’s economic infrastructure needs to move beyond the realm of development finance for commercial financiers to be enticed.

The Ministry of Industry and Trade of Vietnam (MOIT) has released a draft circular containing guidelines on how to develop solar PV in the country, but has failed to address a range of issues that could impact large-scale project bankability, according to analysis from multinational law firm Baker McKenzie.