The energy industry in Vietnam consist of both renewable and non-renewable energy. Vietnam has a diverse energy fuel resource of various types such as coal, natural gas, petroleum, hydropower, and renewable energy sources such as solar energy, biomass energy, wind energy, etc. Because of its diverse natural resources and growing energy sector, Vietnam has been very successful at attracting foreign investment in renewables and other sources of energy.
In 2019, Vietnam's total primary energy supply (TPES) was 89,792 KTOE, an increase of 11.0% compared to 2018. Meanwhile, for the whole period of 2011 - 2019, the growth rate was only 6.1 % a year. Looking at the growth of each energy product group in TPES, it can be seen that coal has a growth rate of nearly double, 13.2% per year in the period 2011 - 2019, followed by renewable energy 10.5% a year. The non-commercial biomass energy and electricity export gap had negative growth, which is -31.4% a year and -13.3% a year respectively.
Renewable energy, with hydropower as the core, increase from 11% in 2010 to 14.7% in 2015 and 18.4% in 2018. However, by 2019, renewable energy decreased to just 15.8%, even though this year saw strong growth in solar power.
The most significant change is coal. In 2010, coal only accounted for 28.1% of the total energy supply and was maintained at the same level in the next few years. However, the period after 2015 saw a significant increase of coal in total supply, to 44.3% in 2018 and a record 50.0% in 2019.
Listed below are some notable energy companies in Vietnam.
Petro Vietnam Power Corporation (PV Power) is known as one of the leading, powerful and influential units in the energy field with a series of projects implemented, providing large amounts of electricity to meet the needs of citizens. Petro Vietnam Power Corporation contributes greatly in promoting domestic economic development.
Some notable power projects of PV Power include Ca Mau 1 Thermal Power Plant, Ca Mau 2 Thermal Power Plant, Nhon Trach 1 Thermal Power Plant, Nhon Trach 2 Thermal Power Plant, Hua Na Hydropower Plant, etc.
Currently, TTC Group Company has 19 hydropower plants, accounting for 3.2% of the total capacity from hydropower plants nationwide. In addition, with seven thermal power plants, accounting for 63% of thermal power generation capacity for Vietnam's sugar factory, it contributes significantly to stabilizing domestic energy. The annual capacity of about 350 MW helps TTC Group become one of the leading companies in the energy sector.
Some notable power projects of TTC Group include TTC Phong Dien Solar Power Plant, TTC Krong Pa Solar Power Plant, etc.
Bamboo Capital Group (BCG) aims to become a leading renewable energy developer in Vietnam soon. BCG is oriented to develop in the solar energy field in 2017, and since then has been constructing solar power plants in Vietnam. Wind power is also an investment field of BCG.
Some notable power projects of BCG include BCG - CME Long An 1 Solar Power Plant, BCG - CME Long An 2 Solar Power Plant, Phu My Solar Power Plant, etc.
Trungnam Group is a professional organization investing in Energy, Infrastructure - Construction, and Real Estate. While not focusing on being able to complete many projects, each project that Trungnam implements bring a large power capacity. Trungnam owns a solar and wind power complex with the largest capacity in Vietnam currently, totaling up to 365 MW. The complex can provide a large amount of electricity for people's needs. In addition, there are many other projects built and completed in many provinces and cities, helping to reduce the pressure on electric energy significantly.
Some notable power projects of Trungnam Group include Dong Nai 2 Hydropower Plant, Krong No 2 Hydropower Plant, Trungnam Wind Farm, Trungnam Tra Vinh Solar Farm, etc.
Compiled by VietnamCredit
