In a recent interview with Kaohoon, Mrs. Nguyen Kim Hai, Member of the Board of Directors at B.Grimm Power (Vietnam), provided insights into the prevailing challenges and ongoing initiatives in Vietnam’s renewable energy sector, especially focusing on government curtailment, feed-in tariffs, and future expansion plans.
Currently, B.Grimm Power (Vietnam) continues to operate under a 20-year Power Purchase Agreement (PPA) with Vietnam Electricity (EVN), set at a feed-in tariff rate of 9.35 US cents per kilowatt-hour. Despite a range of unresolved issues between EVN and various renewable energy firms, B.Grimm maintains open lines of communication with EVN in efforts to resolve persistent difficulties. Negotiations are ongoing, and the company expects resolution of these issues within the third quarter of 2026.
On curtailment, Mrs. Hai explained that Vietnam’s rapid growth in renewable energy has led to overloading of transmission infrastructure, especially during peak hours in summer or high tourist seasons. This has resulted in selective curtailment, particularly in the country’s central regions, as upgrades to high-voltage transmission lines are still underway.
Nevertheless, the Vietnamese government has committed to investing in power grid enhancements across the central, northern, and southern regions. These efforts have significantly reduced curtailment, with B.Grimm’s plants seeing a drop in curtailed electricity from 7% last year to 4% this year. The company expects further improvements as infrastructure investments progress.
Regarding the company’s Phu Yen solar farm, Mrs. Hai stated that its performance has closely matched B.Grimm’s targets. The Phu Yen facility is the largest standalone solar project in Vietnam and one of the largest in Southeast Asia, generating approximately 300 million kilowatt-hours per year and contributing an average annual revenue of $28 million—figures aligned with company projections.
Looking ahead, B.Grimm plans to expand its operations in Vietnam over the next 3-5 years. The company currently manages five key projects with a combined capacity exceeding 520 megawatts. Additionally, B.Grimm is investing in an LNG power project totaling 1,500 megawatts, aiming for commercial operation by 2030.
The company is collaborating with local stakeholders to explore floating solar and hydropower projects, and plans future investments in battery energy storage systems (BESS) for these renewable initiatives.
Under Vietnam’s latest Power Development Plan 8 (PDP8), which prioritizes solar and wind power additions, B.Grimm targets increasing its total capacity in Vietnam to around 2,000 megawatts by 2030, aiming to represent roughly 2.9% of the nation’s total power generation capacity.
Not only by investing in renewable energy projects, but B.Grimm has also played an integral role in supporting local communities in Vietnam by fostering local employment opportunities and engaging in various CSR activities.
The company’s proactive approach includes continuous collaboration with government agencies and local stakeholders, addressing challenges together and ensuring that development benefits are shared with surrounding communities.
This ethic aligns with B.Grimm’s core values, ‘Empowering the World Compassionately,’ making the company a recognized and trusted name among Vietnamese governmental bodies and local communities.
