SolarBK Newsletter – August 2025: Decisive actions and milestones affirming the pioneering position

The August newsletter highlights significant developments from the government aimed at addressing bottlenecks in the energy market, particularly in renewable energy. From proposed policies supporting residential rooftop solar to the promotion of the DPPA mechanism, these initiatives are creating a more transparent and favorable legal framework. In this context, SolarBK continues to assert its pioneering position with new projects, making meaningful contributions to the overall growth of the industry.

Current Affairs – Policies – Partners

Ministry of Industry and Trade Proposes Support for Household Rooftop Solar Installation

The Ministry of Industry and Trade has released the third draft of a policy to support households in installing self-consumption rooftop solar power systems. The support includes installation subsidies (1.5 million VND for systems without storage, 2.5 million VND for systems with storage) and preferential loans through commercial banks. The policy is expected to promote residential rooftop solar, streamline grid connections, and expand the household market, though it still depends on local budgets.

This move demonstrates the government's determination to resolve bottlenecks in the mechanism and open the way for millions of households to access clean energy. However, reliance on local budgets may create disparities between provinces and cities.

Complete All Electricity Projects by August to Avoid Power Shortages

On August 16, Minister of Industry and Trade Nguyễn Hồng Diên instructed the completion of all pending electricity projects in August 2025. The Department of Industry is to accelerate production, while the Electricity Department and the Oil & Gas and Coal Division will monitor major projects, especially FDI gas and wind power projects. The Ministry also called for a review and update of Decrees 57 and 58 to resolve existing mechanisms. This is considered an "ultimatum" to ensure stable power supply and put pressure on accelerating the progress of key industrial projects.

Review of the Direct Power Purchase Agreement (DPPA) Mechanism

On August 21, the Ministry of Industry and Trade held a meeting to review the implementation of Decree 57 (DPPA) and Decree 58 (Renewable Energy). Participants raised concerns about the price framework, grid compensation costs, procedures for certifying rooftop solar, and incentives for offshore wind power.
The Ministry of Industry and Trade asked EVN to provide comments on the compensation mechanism and instructed the Electricity Department to compile proposals for amendments using expedited procedures to ensure feasibility and transparency. This is seen as an important step to improve the legal framework and build a competitive electricity market.

Vietnam’s Renewable Energy Sector Looks to Sustainable Growth

At the Scientific Forum on August 21, experts forecast that Vietnam’s electricity demand will grow by 8–10% per year, and by 2035, an additional 150,000 MW of renewable energy will be needed (~1,500 projects). The major challenges remain in transmission infrastructure, energy storage, and the unclear post-FIT mechanism. The government has issued the Power Plan VIII, the DPPA mechanism, and the transitional electricity pricing framework, which are helping restart many projects. Starting in 2025, the main drivers will be offshore wind, rooftop solar, and BESS energy storage systems.

Banpu Continues Green Energy Growth in H1 2025

On August 18, Banpu announced its H1 2025 results: renewable energy capacity reached 969 MW (+66 MW compared to 2024), with total capacity of 3,935 MWe. Consolidated revenue stood at 2.52 billion USD, with EBITDA of 571 million USD. Highlights include expansion into CCUS and shale gas in the U.S., nickel investment in Indonesia, and operation of a 58 MWh storage project in Japan. This is a positive signal for SolarBK as the joint venture Esco NEXT will strengthen its capital and capabilities to deploy commercial and industrial rooftop projects in Vietnam, especially large-scale ones.

VinFast Confirms Global Position: From 80 Years of National Achievements Exhibition to New Factory in India

On August 4, VinFast inaugurated its Tamil Nadu factory in India with a 2 billion USD investment and an initial capacity of 50,000 vehicles per year, aiming for 150,000 vehicles annually. This strategic move positions VinFast as the "electric vehicle hub of South Asia".
Starting from August 28, Vingroup – VinFast also participated in the "80 Years of National Achievements" exhibition in Hanoi, showcasing its entire technology and energy ecosystem. Electric vehicle models, robots, and VinEnergo solutions attracted attention, reaffirming the company’s commitment to green transition and international expansion.

VinFast’s strong growth is not only a source of pride for Vietnam but also opens up numerous opportunities for collaboration in the renewable energy sector.

SolarBK Activities

The Leader Magazine Highlights 20 Years of Renewable Energy Pioneering by Mr. Nguyễn Dương Tuấn – CEO of SolarBK

On August 25, The Leader Magazine published a feature article on Mr. Nguyễn Dương Tuấn, CEO of SolarBK.

The article emphasizes his nearly 20-year journey in bringing clean energy to life, the philosophy of "real technology – sustainable development," and milestones such as the Spratly Islands – DK1, the ESCO model with EVN, the LEGO Bình Dương project, and the 30 MW rooftop project at VinFast.

SolarBK is recognized as a pioneering Vietnamese company that survived the "ice age" of 2021–2024 through self-consumption, R&D, and alliances with Banpu. Mr. Tuấn’s steadfast leadership and strategic vision have helped SolarBK continually grow and confirm its pioneering position in Vietnam’s renewable energy sector.
SolarBK Participates in Thanh Niên Newspaper’s Emission Reduction and Air Filtration Dialogue

On August 23, 2025, Ms. Nguyễn Ngọc Quỳnh, Deputy CEO of SolarBK, participated in the Emission Reduction and Air Filtration Dialogue hosted by Thanh Niên Newspaper. During the discussion, Ms. Quỳnh affirmed that the green transition is an irreversible trend. She highlighted the difficulties in unlocking mechanisms to support residential rooftop solar and DPPA, while calling for prioritizing domestic products and services to create opportunities for Vietnamese businesses to participate more deeply in the energy transition process.

Commercial Operation of 2.7 MWp Rooftop Solar System at Phú An Fiber Factory and Gratitude to Central Vietnam Customers

On August 1, SolarBK launched the commercial operation of a 2.7 MWp rooftop solar system at the Phú An Fiber Factory in Huế. The project is expected to generate 3.7–4.4 million kWh per year, reduce over 2,500 tons of CO₂, save on electricity costs, and demonstrate the technological capability of "Make in Vietnam." Following the ceremony, SolarBK organized a customer appreciation event in Central Vietnam and signed new projects including Mikado MT (1.75 MWp), MDF VRG Quảng Trị (1.87 MWp), and SEDO Vinako (3.8 MWp). This marks a continuation of 20 years of commitment and solidifies SolarBK’s.

Vietnam's Manufacturing Industry Market

Industrial Production Continues to Show Positive Growth

According to the report from the General Statistics Office (Ministry of Finance), the industrial production index (IIP) in July 2025 increased by 0.5% compared to the previous month and rose by 8.5% year-on-year. Cumulative IIP for the first seven months of the year grew by 8.6%, with the processing and manufacturing sector leading the way with a 10.3% increase, contributing 8.5 percentage points to the total IIP. Regions such as Quảng Ninh (+32%), Phú Thọ (+26.9%), and Huế (+16.7%) reported outstanding growth rates. This demonstrates the strong rebound of Vietnam’s manufacturing sector in 2025.
 
Textile Industry Faces Competitive Pressure and "Green" Demands

The analysis report indicates that the textile industry continues to grow in the first half of 2025 but is facing significant challenges, including price competition, fluctuations in international trade policies, and declining order values towards the end of the year. To overcome these obstacles, businesses need to find "new pathways" such as optimizing costs, increasing value-added production, and promoting green standards.  
Stabilizing the Import-Export Market – Breaking Through the 800 Billion USD Milestone?

Minister of Industry and Trade, Nguyễn Hồng Diên, shared that Vietnam's total import-export turnover for the first seven months of the year reached 262.44 billion USD, an increase of 14.8%. It is expected that the full-year turnover will reach a record of 800 billion USD. The trade balance is also positive, with a trade surplus of 10.18 billion USD.

Nearly 100% of Localities Report Increase in Industrial Production

According to the Banking Magazine, all 34 provinces nationwide have reported an increase in industrial production during the first seven months of the year. Additionally, the number of workers in industrial enterprises has also risen by 1% compared to the previous month and 3.9% compared to the same period last year, reflecting strong confidence in recovery and a robust demand for production.
 
Conclusion: The strong recovery in industrial production and the "green" pressure from the market have created significant momentum, opening up broad business opportunities for SolarBK's rooftop solar energy solutions.