Vietnam

Solar Energy Solutions for Businesses in Vietnam

Vietnam’s fast growing economy and export driven industries are putting strong pressure on the power system. TotalEnergies ENEOS provides solar energy solutions for businesses in Vietnam that help reduce electricity costs, cut carbon emissions and improve energy security, often without requiring upfront investment.

Vietnam’s Fast-Growing Power Demand and Market Structure

Vietnam’s electricity demand has been growing at around 7.9 percent per year as manufacturing, exports, urbanisation and rising living standards drive higher consumption across the country. At the same time, the power system operates under a single buyer model, with EVN and its subsidiaries responsible for purchasing most electricity and supplying end users, which shapes how tariffs and contracts are structured for businesses.

In recent years, Vietnam has already installed about 21.5 gigawatts of solar and wind capacity, representing roughly 28 percent of total system capacity. This rapid build out shows how quickly renewables can be integrated when conditions are right, but it also means businesses need to plan carefully for how they source power in a system that is evolving. on-site solar allows commercial and industrial users to secure part of their electricity from their own facilities, reducing exposure to future tariff changes and grid constraints while supporting national energy transition goals.

Government Renewable Energy Targets and Net-Metering Policies

Vietnam has set renewable energy targets that include reaching more than 10 percent renewables in the power mix by 2030, with around 12 gigawatts of solar capacity planned by that time. These goals are linked to broader power development plans and climate commitments that aim to diversify the generation mix and reduce reliance on coal and other fossil fuels.

Policies such as net metering rules under Circular 16 and feed in tariff incentives for rooftop systems under 1 megawatt have been key tools to encourage rooftop solar deployment. They allow excess electricity from smaller systems to be exported to the grid and compensated, improving the business case for commercial and industrial rooftops. As the policy framework continues to evolve, Vietnam is signalling that rooftop and distributed solar will remain an important part of its long term energy strategy.

For businesses, this creates practical opportunities to deploy on-site solar in a way that aligns with national policy, supports ESG commitments and helps manage long term energy costs.

Commercial Solar Projects in Vietnam

TotalEnergies ENEOS is already working with manufacturers in Vietnam to deliver on-site solar projects that support production and export activities.

Chin Well

A solar PV system at a fastener and hardware manufacturing site, demonstrating how industrial exporters can use solar to manage energy costs, improve sustainability performance and respond to the expectations of global customers and supply chain partners.

Men Chuen (MDS)

A rooftop solar installation at a textile and manufacturing facility, supplying a portion of the plant’s electricity needs with clean energy and helping reduce both operating costs and the carbon footprint of products bound for international markets.

Miza

A 4MWp solar PV system for Miza; a major paper producer in Vietnam that recently launched their new production facility in the country. The project is a fine example of how manufacturers can tap renewable energy to manage costs, cut emissions, and strengthen sustainability performance for global customers and supply chain partners.

Samsung Electronics

TotalEnergies ENEOS is installing a 28 MWp rooftop solar PV system at Samsung Electronics’ HCMC CE Complex in Ho Chi Minh City, Vietnam, supplying clean on-site electricity under a 20-year PPA to support Samsung’s sustainability roadmap and advance its RE100 commitment.

These projects show how businesses in sectors such as textiles, components and light industry in Vietnam are already using on-site solar with TotalEnergies ENEOS to support growth while keeping energy costs and emissions under control.

FAQ

Electricity demand in Vietnam is growing rapidly because of strong economic expansion, export oriented manufacturing, rising urbanisation and higher living standards, all of which increase power needs for factories, industrial parks, commercial buildings and households.

Vietnam’s single buyer model under EVN means that most power is purchased and sold through one main utility group, so tariffs and contract structures are strongly influenced by national planning, generation costs and regulatory decisions, which can limit price competition and expose businesses to system wide cost changes.

Vietnam has set renewable energy targets that include reaching around 10.7 percent renewables in the power mix by 2030 and installing roughly 12 gigawatts of solar capacity by that date, as part of a broader effort to diversify away from coal and align with long term climate and development goals.

Vietnam’s net metering program supports rooftop solar adoption by allowing smaller systems, typically under 1 megawatt, to export excess electricity to the grid and receive credits or payments based on regulated mechanisms such as those under Circular 16 and feed in tariff schemes, which improves project economics for commercial rooftops.

Businesses installing solar in Vietnam today include textile and garment manufacturers, component and hardware producers, food and beverage and FMCG companies, logistics and warehousing operators and industrial park tenants that want to reduce energy costs and improve their sustainability profile.

The savings that commercial and industrial businesses in Vietnam can achieve by switching to solar depend on their current tariffs, consumption profile and available roof or land area, but many facilities can offset a significant share of daytime grid usage and lower their average cost per kilowatt hour over the life of the system.

Businesses in Vietnam do not always need to invest their own CAPEX to install a commercial solar system, because Power Purchase Agreement structures allow TotalEnergies ENEOS to finance, build and operate the system while the customer pays only for the solar electricity produced at an agreed tariff.

Most commercial solar projects in Vietnam can move from detailed feasibility to installation and commissioning within a few months, depending on project size, permitting, grid connection approvals and site readiness, covering design, procurement, construction, testing and handover.

Important site conditions for a successful solar installation include structurally sound roofs or suitable ground space, good solar exposure with limited shading, safe access for construction and maintenance and an appropriate connection point to the facility’s electrical system and the local grid.

Partnering with TotalEnergies ENEOS helps reduce the risks of going solar in Vietnam because we bring international engineering standards, strong health and safety practices, local project experience and a fully managed service that covers system design, permitting, construction, monitoring and long term operations and maintenance, allowing businesses to focus on their core activities while capturing the benefits of solar.