Vietnam targets 10–16.3 GW of storage by 2030, but installed capacity remains below 100 MW despite strong investor interest in a projected USD 6 billion market. (Photo: GG Power)
Vietnam’s energy storage sector is drawing growing corporate interest, with international and domestic manufacturers positioning for a market that policy targets suggest could reach USD 6 billion by 2030.
However, as of early 2025, Vietnam had installed less than 100 MW of battery energy storage systems (BESS), against a revised eighth Power Development Plan (PDP8) target of 10,000 to 16,300 MW by 2030.
“Without storage, it will be difficult to increase the share of renewables while maintaining system stability,” said Phan Cong Tien, Director of the Institute of Smart Energy Application Research (iSEAR).
Unlock the full article to explore three key takeaways:
- Vietnam's revised PDP8 targets up to 16,300 MW of BESS by 2030, but installed capacity stood below 100 MW in early 2025, with near-term returns still dependent on solar-plus-storage tariff premiums.
- EVN is moving from planning to deployment, with 305 MW under construction in northern Vietnam and a 50 MW Hanoi pilot underway, though self-financing requirements introduce execution risk.
- Circular 62, effective January 2026, gives standalone BESS a formal pricing framework for the first time, but annual price approvals, dispatch uncertainty, and the absence of ancillary services mechanisms limit commercial certainty.
