Vietnam is becoming a favored destination for solar photovoltaics (PV) manufacturers, driven by the low costs of Manufacturing in Vietnam combined with rising global demand and US tariffs of up to 165% on crystalline silicon PV solar imports from China and Taiwan to prevent dumping.
In early March 2019, TTI Group from the US expressed interest in developing a solar panel Manufacturing plant and an R&D center in Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City (HCMC) with an investment of USD 150 million. First Solar, one of the US biggest solar manufacturers, is also set to return to Vietnam five years after leaving the country. It is moving forward on its plans for the initial factory, and has committed to a second factory in Dong Nam Industrial Park in Ho Chi Minh City. The two factories are expected to produce 2.4 gigawatts (GW) worth of First Solar’s Series 6 modules annually after becoming fully operational. The company is also looking into module supply agreements to support local projects.
Meanwhile, in the North of Vietnam, Chinese and Taiwanese companies are main investors. Bac Giang has eight projects which will form the largest solar Energy equipment Manufacturing chain in Vietnam, with a total capacity of 5,200 megawatts (MW) per year. One of those plants is being constructed by JA Solar with capital of investment up to USD 280 million. Some well-known Chinese manufacturers such as Trina Solar, JA Solar, and Bowerway Group have been shifting production to Vietnam for a while now. In 2019 Trina Solar announced a new 258 MW project located in Ninh Thuan, the central province of Vietnam. This is one of the largest solar power projects with investment capital of 220 million USD from Vietnam’s Trung Nam Group.
(Source: Vietnam Net)