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1. National Power Development Plan (PDP8)
The National Power Development Plan (PDP8) is a key strategy outlining Vietnam's long-term electricity supply goals, aiming to meet power demand and reduce carbon emissions by 2030.
PDP8 targets increasing the share of renewable energy to 30.0–39.2% by 2030 and 67.5–71.5% by 2050.
It focuses on expanding the proportions of solar, wind, and hydropower to minimize carbon emissions, promoting Vietnam's economic growth through green energy initiatives.
PDP8 serves as a crucial tool for reducing carbon emissions. Successful implementation of PDP8 will enable Vietnam to respond to international carbon regulations such as the European Union’s Carbon Border Adjustment Mechanism (CBAM). By leveraging renewable energy to produce low-carbon products, Vietnamese exporters can reduce carbon tax burdens and maintain global competitiveness.
2. Feed-in Tariff (FIT)
The Feed-in Tariff (FIT) system is a mechanism where the government purchases electricity generated by renewable energy plants at a fixed price. It has significantly contributed to the development of solar and wind energy.
FIT provides a stable revenue model for renewable energy projects, attracting substantial investments and encouraging the installation of solar and wind power plants.
FIT plays a vital role in promoting renewable energy in Vietnam, reducing reliance on fossil fuels in the power grid.
Vietnamese manufacturers required to comply with carbon regulations can benefit from FIT by securing renewable energy at a stable and affordable price. This helps protect businesses from carbon border taxes and other international carbon regulations.
3. Direct Power Purchase Agreement (DPPA)
The Direct Power Purchase Agreement (DPPA) allows companies to purchase renewable energy directly from producers.
This mechanism facilitates contracts between energy consumers and renewable energy producers, bypassing traditional distribution networks for direct energy procurement.
It is primarily used by large corporations and manufacturers to reduce carbon emissions and enhance corporate environmental responsibility.
DPPA provides an efficient means for companies to procure renewable energy directly. This enables Vietnamese manufacturers to adapt more flexibly to international carbon regulations. Products manufactured using renewable energy under this scheme face lower compliance burdens, enhancing their export competitiveness.
Essential Information on Vietnam's Solar Power Business from Bigtorage: Why ESS i...
2024.12.20 | Bigtorage
1. What is an Energy Storage System (ESS)? An Energy Storage System (ESS) is a technology that stores electrical energy for later use. ESS plays a critical role in addressing the imbalance between energy supply and demand and mitigating the intermittency of renewable energy sources. Renewable energy...
Essential Information on Vietnam's Solar Power Business from Bigtorage: Navigatin...
2024.12.20 | Bigtorage
Key Challenges Increased Carbon Tariff Burden on Exported Products Regulations such as CBAM impose taxes based on the carbon emissions associated with exported goods. This results in additional costs for products manufactured in Vietnamese factories that still rely on coal-fired power, weakening the...
‘2024 Hannam Entrepreneurs’ Night’: Representative of Bigtorage Selected as an Ou...
2024.12.20 | Bigtorage
Source: Hannam University Source:Bigtorage Hannam University’s Startup Support Group announced on the 18th that it hosted the "2024 Hannam Entrepreneurs’ Night," an event to share the annual achievements of startups, promote exchanges between entrepreneurs and partner organizations, and ...
Bigtorage, ESS Specialist, Signs Contract to Build ESS in Vietnamfull-fledged ove...
2024.12.12 | Bigtorage
Bigtorage, ESS Specialist, Signs Contract to Build ESS in Vietnamfull-fledged overseas expansion Bigtorage (CEO: Lee Tae-seung), a startup specializing in ESS (energy storage system) solutions, said it signed an ESS contract for Vietnam's Commercial Building (COBI TOWER) in early December throug...
Bigtorage, First SME Selected as an Excellence Case for 'WIN-WIN HONORS'
2024.12.12 | Bigtorage
Lee Tae-seung, CEO of Bigtorage (right), and Jinyoung Kim, CEO of Nuriflex Vietnam, take a commemorative photo at the award ceremony for the "Win Win Honors" on Tuesday. Photo = Bigtorage Bigtorage magazine, a startup specializing in ESS (energy storage system) solutions, announced that it was selec...
[Startup CEO at Hanam University’s Startup-Centered University Program] Bigtorage...
2024.12.12 | Bigtorage
Bigtorage: A Startup Specializing in ESS Platforms and Technology Bigtorage is a startup specializing in energy solutions, particularly platforms and technologies related to Energy Storage Systems (ESS). It was founded in July 2019 by CEO Tae-Seung Lee (37). Bigtorage operates with advanced control ...
Important Information About Solar Power Projects in Vietnam by Bigtorage: Vietnam...
2024.12.12 | Bigtorage
First: Vietnam's Solar Power Potential Vietnam possesses tremendous potential for solar energy development due to its geographical advantages. Most regions in Vietnam enjoy abundant sunlight, with the country’s solar power potential estimated at approximately 963,000 MW, according to the V...
Important Information About Solar Power Projects in Vietnam by Bigtorage: Vietnam...
2024.12.12 | Bigtorage
1. National Power Development Plan (PDP8) The National Power Development Plan (PDP8) is a key strategy outlining Vietnam's long-term electricity supply goals, aiming to meet power demand and reduce carbon emissions by 2030. PDP8 targets increasing the share of renewable energy to 30.0–39.2...
Bigtorage Signs MOU with Tilda for Entry into the Japanese Energy Market
2024.12.12 | Bigtorage
Lee Tae-seung, CEO of Bigtorage (left), and Jeong Ji-ryang, CEO of Tilda, sign a memorandum of understanding for entry into the Japanese energy market. Photo courtesy of Bigtorage. Bigtorage, a company developing optimal control and operation technologies for Energy Storage Systems (ESS), has announ...
Bigtorage Signs MOU with VinFast and NuriFlex Vietnam
2024.12.12 | Bigtorage
(From left) Bigtorage, NuriFlex Vietnam, and VinFast sign a strategic memorandum of understanding. Photo courtesy of Bigtorage. Bigtorage, a Startup Specializing in Small-Scale ESS Solutions, Signs Strategic MOU with VinFast and NuriFlex Vietnam. Bigtorage, a startup specializing in small-scale Ener...
Important Information You Must Know About Solar Power Projects in Vietnam by Bigt...
2024.12.12 | Bigtorage
1. Promoting Investment in Renewable Energy Carbon regulations have emerged as a powerful factor driving investment in renewable energy. As companies face financial impacts from these regulations, they increasingly turn to renewable energy sources to mitigate costs related to carbon emissions. Effor...
Small ESS Efficiency 'Bigtorage' Attracts Free A Investment from Blue Point
2024.08.31 | Bigtorage
Bigtorage, which develops small-capacity energy storage (ESS) optimal control and operation technology, has attracted a pre-series A investment from Blue Point Partners. The amount is private. Bigtorage was selected as the 4th "The GS Challenge. Future Energy" in which Blue Point Partners (hereinafte...
Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation
2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
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2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
This information was created temporarily.
2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
Bigtorage Inc. Partners with ChainXbill for Cold Chain and Virtual Power Plant Pr...
2024.08.31 | Bigtorage
This information was created temporarily. You can enter what you want. Bigtorage Expands Internationally with the Establishment of a Vietnamese corporation Bigtorage was selected as an expert in the 'Hannam Startup Mentor 100' for sustainable growth Bigtorage, GS Energy X Blue Point, Future E...
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