Representatives of six German companies on Monday began their business trip in Vietnam to explore the potential of the local solar photovoltaic market.
The Delegate of German Industry and Commerce in Vietnam, which organized the trip, said the representatives participated in a conference in Ho Chi Minh City to discuss and learn about investment opportunities.
They also presented their products and services to some 150 Vietnamese companies and participants, and attended bilateral meetings.
The group visited DBW Garment Factory, one of the latest commercial photovoltaic (PV) rooftop projects and an example of German solar PV technology in Vietnam.
“German companies in the solar photovoltaic sector can now seize a number of attractive business opportunities along the value chain,” said Peter Cattelaens, deputy program director of the GIZ Energy Support Program in Vietnam.
“Project developers, sales and operation managers, suppliers, engineers and planning consultants will be required in the very close future to invigorate the growth of the Vietnamese solar photovoltaic market.”
Participants in the business trip include major companies such as IBC Solar AG, M+W Group GmbH, Droege Energy GmbH, CARERA Solar/Hydro UG, ILF Consulting Engineers GmbH and Syntegra Solar International AG.
According to the Delegate of German Industry and Commerce, the potential for solar energy development in Vietnam is huge.
Solar resources are abundant with a daily average solar irradiation of 4-5 kWh per square meter in most of southern and central Vietnam. This makes the country comparable to developed solar markets in the region – including China, Thailand or the Philippines – as well as to mature international solar markets, such as Spain and Italy, the delegate said in a release.
Solar PV power generation capacities in Vietnam are expected to increase from around seven megawatts (MW) by at mid-2016 to 850 MW by 2020, 4,000 MW by 2025 and 12,000 GW by 2030.