The New Race for Battery Storage for Renewable Energy

New Opportunity

At the Vietnam - China - ASEAN International Energy Forum 2025 recently held, Ms. Nguyen Thi Binh, Deputy General Director of T&T Group, said that the joint venture product will be launched in the market in 2026, anticipating the need for integrated battery storage installation for renewable energy projects in the Vietnamese market after there are clear regulations and legal frameworks on electricity prices from battery storage and installation rates.

According to the plan, phase 1 of the project has a capacity of about 2 GWh/year and is expected to operate in 2026. Phase 2 will be implemented 2-3 years after phase 1, contributing to increasing the total capacity of the project to about 10 GWh/year.

Some energy storage products introduced by T&T Group at the Vietnam - China - ASEAN International Energy Exhibition 2025.

As a company investing heavily in the renewable energy sector, the projects that T&T Group has been implementing have a total cumulative capacity of more than 2,800 MW, including wind power, solar power, and LNG power. Not only investing in Vietnam, T&T Group is also implementing a 495 MW wind power project in Laos and plans to continue expanding its energy investment there, aiming to export electricity to Vietnam and some countries in the region.

This fact helps T&T Group understand very clearly the advantages of storage batteries when integrated into renewable energy projects and has the motivation to move faster in the process towards the goal of becoming the leading energy investment group in Vietnam and top 50 in Asia with the plan to reach a total power generation capacity of 16,000 - 20,000 MW by 2035, accounting for about 10% of the capacity of Vietnam's power system, most of which is from clean energy sources such as solar power, wind power, LNG gas power, biomass power and green hydrogen/ammonia.

In the eyes of investors, Vietnam is still considered to have great potential and favorable natural conditions for developing renewable energy. The revised Power Plan VIII, which was recently issued in mid-April 2025, also sets out many ambitious goals for developing renewable energy with wind and solar power in the coming time.

Specifically, according to the adjusted plan, by 2030, the total onshore and nearshore wind power capacity will reach 26,066 - 38,029 MW, an increase of about 20,000 MW compared to the Power Plan VIII issued in May 2023. This additional wind power figure does not include the 6,000 MW of offshore wind power recorded in the plan.

Regarding solar power, the new target is to reach a total capacity of 46,459 - 73,416 MW by 2030, an increase of more than 28,000 MW compared to Power Plan VIII, including concentrated and rooftop solar power.

Along with the development of renewable energy, the issue of energy storage is also receiving more attention in the recently issued adjusted Power Plan VIII with regulations that the development of concentrated solar power must be combined with the installation of storage batteries at a minimum rate of 10% of capacity and integrated within 2 hours.

The plan also sets out plans to develop a storage system of thousands of MW, especially in areas with high proportions of renewable energy such as the Central Highlands, Ninh Thuan, Binh Thuan ...

The world's largest solar power and battery storage project, Edwards & Sanborn (USA), has a capacity of 875 MW and the ability to store 3,287 MWh of electricity in more than 120,000 batteries. Photo: Mortenson.

According to experts, the goal of making the most of existing energy sources, especially renewable energy in Vietnam, to produce electricity to meet the needs of the economy, as proposed in the revised Power Plan VIII, is also a wise solution that, if well implemented, will help reduce dependence on primary energy imports (coal, LNG), thereby helping to ensure energy security.

Also a few days earlier, the Ministry of Industry and Trade issued Decision 988/QD-BCT approving the electricity generation price framework applicable to solar power plants. The new point of the electricity generation price framework applicable to solar power plants this time is that it takes into account plants with battery storage systems and is divided into 3 separate regions.

Mr. Phan Xuan Duong, an independent energy consultant, commented that the division of electricity purchase prices by region and the presence of battery storage shows that there has been a change in thinking and that there is no uniform price for the whole country as before.

The above-mentioned major renewable energy goals and new moves in policy development related to battery storage have sent positive signals, attracting the attention of many large investors in this field.

New race

“Renewable energy is unstable and causes certain difficulties for the operation of the power system if mobilized at a high rate. However, when integrated with storage batteries, this disadvantage will be resolved. With relatively clear regulations recently, we are confident that the period from 2026 to 2030 will be a time of strong development of the use of storage batteries for renewable energy projects,” Ms. Nguyen Thi Binh commented.

To seize new opportunities, T&T Group has now begun implementing a storage battery production project in Vietnam through cooperation and joint venture with a leading Chinese partner.

“Our goal is to launch new products by 2026 and capture 40-50% of the domestic market, aiming to export to regional markets as well as to other countries in the world such as the US and EU,” said Ms. Binh.

Sharing about the challenges in developing energy batteries - a completely new and difficult field that no business in Vietnam has been able to do yet, the representative of T&T Group also said that in the world, especially China, has invested in the field of storage batteries for more than 10 years, so their product lines and brands are quite strong. Therefore, the competitive pressure of the market is also not small.

Solar power plants combined with battery storage have their own electricity purchase price policies.

“I think the Government will strongly encourage storage batteries to be produced in Vietnam and invested by Vietnamese investors, so there will certainly be support and incentive mechanisms to increase competitiveness in the market,” said Ms. Binh.

Currently, T&T Group has established a strategic cooperation mechanism with a number of Chinese contractors and equipment suppliers such as GEDI under China Energy Group, Goldwind, Envision... to accompany from very early on (from research, survey, project FS establishment to investment and construction implementation), helping to proactively select effective projects and ensure investment progress.

“T&T wishes to continue to cooperate with Chinese corporations to share experiences, technology, expand investment, and manufacture equipment in Vietnam. In particular, to cooperate with equipment manufacturers from China who wish to expand investment and production in Vietnam, in the “Green Industrial Zones” that the Vietnamese Government has planned, creating production centers and supplying renewable energy equipment for the entire ASEAN region,” said a representative of T&T Group.

Source: https://baodautu.vn/cuoc-dua-moi-ve-pin-luu-tru-cho-nang-luong-tai-tao-d274119.html