Under the agreement, SEVT has become the first corporate customer in Vietnam to directly purchase renewable electricity through the national grid, according to the National Power System and Market Operator Company (NSMO). On the supply side, TTC Duc Hue 2 solar power plant, operated by TTC Duc Hue – Long An Power JSC, is the first power generator to officially participate in the mechanism.
The plant, located in Tay Ninh Province, has a designed capacity of 49 MWp/41.4 MWac and began commercial operations on May 19. The contract is expected to provide Samsung Thai Nguyen with around 70 GWh of solar electricity annually, equivalent to the power consumption of about 17,000 households, while helping cut roughly 46,000 tons of CO2 emissions each year.
The operation is being implemented under the direct power purchase mechanism between renewable energy producers and large electricity consumers stipulated in Government Decree No. 57/2025/ND-CP dated March 3, 2025.
The plant’s participation in the electricity market complies with regulations governing the competitive wholesale electricity market under Circulars No. 16/2025/TT-BCT and No. 36/2025/TT-BCT issued by the Ministry of Industry and Trade.
Following a review confirming that the project met all regulatory requirements, NSMO reported to the Ministry of Industry and Trade and the Electricity Authority of Vietnam, while notifying Vietnam Electricity Group (EVN) and related parties before officially bringing the project into operation at the beginning of June.
NSMO said the event represents not merely a commercial transaction but also an important milestone in the practical operation of a new mechanism within Vietnam’s electricity market.
Under the mechanism, renewable electricity generated and fed into the national grid will be measured, verified, dispatched, traded and settled transparently through the market. The arrangement also makes use of the project’s location advantage in southern Vietnam, where solar radiation conditions are favorable, with average annual sunshine duration ranging from 2,200 to 2,500 hours.
The milestone is expected to accelerate renewable energy integration, support businesses in accessing clean electricity to respond to climate change, and lay groundwork for the development of a competitive retail electricity market under Decision No. 63/2013/QD-TTg issued by the prime minister.
(The Saigon Times)
