Phu My is the largest-scale solar power plant in central region of Vietnam with a capacity of 330 MW (Photo: BCG)
Vietnam’s Direct Power Purchase Agreement (DPPA) was approved on July 3, opening up a new era of green energy liberalization and new investment opportunities in the country. This legislation encourages the development of renewable energy in Vietnam, helping companies acquire green power and enhancing the competitiveness of their exported goods.
Foreign investment enterprises in Vietnam, such as Samsung and PepsiCo, have expressed optimism about the sustainable development prospects brought about by the DPPA. Additionally, this move is particularly attractive to data center operators interested in entering Vietnam.
DPPA approval fosters renewable energy and data center investments
After seven years of discussion, Vietnam’s DPPA has finally been approved, receiving high praise from foreign investors. Samsung Group representative Jung Byung Jin stated, "The DPPA is a long-awaited regulation by many companies, chambers of commerce, and organizations. Samsung will partner with Vietnam to transition to renewable energy and achieve the goal of 100% renewable energy usage." The group’s official website also announced plans to purchase renewable energy through the DPPA, promoting green factory development in Vietnam.
