One of the optimal solutions for energy storage today is the use of energy storage batteries. According to Decision No. 262/QD-TTg dated April 1, 2024 of the Prime Minister on the Plan for implementing the VIII Power Plan, the list of battery storage projects includes a 50MW battery storage project with a capacity of 50MW; a 7MW battery storage project integrated into a 50MW solar farm; a 105MW battery storage project integrated into a 400MW solar farm with a capacity of 105 MW and other battery storage projects with a capacity of 138MW. Accordingly, the Government has allowed Vietnam Electricity (EVN) to invest in a pilot energy storage battery system. The option of developing storage batteries at a reasonable cost, distributed near wind power and solar power centers or load centers... the storage battery capacity of renewable energy power plants is not included in the capacity of the power source project, and the storage battery capacity structure of the power system by 2030 is expected to reach a capacity of about 300MW.
At the meeting, Deputy Minister Nguyen Hoang Long shared that in the coming time, Vietnam's renewable energy capacity will increase sharply. Vietnam is promoting the development of solar and wind energy, so the development and installation of storage batteries is necessary. The market for storage batteries in Vietnam is very large, hoping that Great Power will cooperate with Xuan Cau Company Limited to develop successfully in Vietnam. The Deputy Minister also suggested that Xuan Cau Company Limited needs to find Vietnamese partners to cooperate with Chinese investors to develop storage technology and techniques to ensure the harmony of interests between the two countries to ensure Vietnam's energy security.
At the same time, units of the Ministry of Industry and Trade also discussed with Great Power to clarify information about technology, costs, capacity, life cycle, battery recycling and the level of localization of production in Vietnam.
Great Power representative said that currently, the cost of producing energy storage batteries is on a downward trend, the company has opened a factory in Bac Ninh to ensure product supply not only for Vietnam but also for the Southeast Asia region. In the near future, Great Power Company will cooperate with Xuan Cau Company Limited to build a factory in Hai Phong to serve the production of storage batteries and move towards transferring technology to Vietnam. In the immediate future, the factory will be assembled in Vietnam, when operating stably, a factory will be opened to produce equipment and components in Vietnam.
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