Vietnam-based Samsung Electronics Vietnam Thai Nguyen (SEVT), a subsidiary of South Korean conglomerate Samsung, has signed a private power purchase agreement with a solar farm, it said on 1 June. This will boost the country's nascent clean energy contracting mechanism.
The agreement for 70 GWh/yr of power from a new, off-site 49MW-peak solar facility is the first deal to use the national grid under Vietnam's direct power purchase agreement (DPPA) scheme.
Vietnam launched the DPPA programme in 2025 to allow companies to contract renewable power directly with private generators. But deals thus far have involved modest power capacities from facilities such as rooftop solar arrays, with power sent to nearby customers through private cables.
The DPPA scheme allows contracting via the national grid — which enables larger deals — but participants face power wheeling charges that are still being revised.
The deal by Samsung Electronics Vietnam Thai Nguyen will slash emissions by about 46,000t of CO2 equivalent/yr (tCO2e/yr), the electronics manufacturer said on 1 June. The duration of the contract was not disclosed.
Other Samsung subsidiaries in Vietnam are also working on their own DPPA arrangements, it added.
Wind and solar capacity in Vietnam grew rapidly in 2018-21 because the government agreed to buy renewable power at high rates. Total capacity rose from about 340MW to nearly 20.8GW over that period.
But the high rates were later reduced and growth slowed, with total wind and solar capacity reaching about 25.5GW in 2025, data from the International Renewable Energy Agency show.
Vietnam is aiming to achieve over 70pc renewables in its power mix by 2050. This is up from about 44pc in 2023, according to the International Energy Agency.
Argus assessed 2026 vintage solar and wind I-RECs in Vietnam at $0.30/MWh last week, $0.02/MWh lower on the week.
