How does vietnam rank in the energy storage field

What is the energy sector like in Vietnam?

Vietnam's energy sector is diverse, with resources including coal, natural gas, petroleum, hydropower, and renewables such as solar and wind energy. This sector plays a key role in promoting the country's socio-economic development, given Vietnam's dynamic and developing economy with a relatively high growth rate.

What measures has Vietnam taken to strengthen its energy industry?

Vietnam has introduced market reforms aimed at strengthening its energy industry. The country has also boosted exploration activities and allowed greater foreign company involvement in the oil and natural gas sectors.

Can battery energy storage systems improve power system flexibility?

Recently, Vietnam’s National Power Transmission Corporation (EVNNPT) shared that it is looking into Battery Energy Storage Systems (BESS) among several technology options as an appropriate solution. This technology can enhance power system flexibility and enable high levels of renewable energy integration.

Does Vietnam have a power shortage?

Vietnams total power demand is expected to grow 10% annually during the period 2021-2024, and power shortages are expected to increase in different regions of the country.

Will there be a power shortage in Vietnam in 2021?

It has been estimated that there will be a power shortage of nearly 400 million kWh in 2021, and it will reach a peak of 13.3 billion kWh in 2023, according to the report of Electricity of Vietnam (EN).