Solar power plants face revocation of approvals in Nghe An
In the heart of Vietnam, the province of Nghe An is considering a significant turn of events for two major solar power projects: the Vuc Mau Lake and Khe Go Lake solar power plants. These projects, initially approved for investment in March 2022, have faced delays of approximately 17 months, prompting the Department of Finance to recommend their revocation to the Nghe An People's Committee [1][5].
The Vuc Mau Lake Solar Power Project, proposed by Vuc Mau Lake Solar Power JSC, boasts a capacity of 200 MWp, with an expected annual electricity output of 265.8 million kWh, and a total investment of approximately VND3.7 trillion (~$148 million) [1]. On the other hand, the Khe Go Lake Solar Power Project, proposed by Khe Go Lake Solar Power JSC, has a capacity of 250 MWp, covers 303.48 hectares, and requires an investment of around VND4.1 trillion (~$164 million) [1].
Initially, these projects were slated to be operational and connected to the grid by December 2023. However, the investor selection process has not been completed, a primary reason for the significant delays [1]. As a result, the Department of Finance has asked for investment approvals to be revoked, as these projects no longer align with the planned development schedule [1][5].
As of early August 2025, the revocation is planned but not yet fully executed, pending decisions by the Nghe An People's Committee following the recommendation from the Department of Finance [1][5].
Meanwhile, the energy transition in Vietnam is gathering momentum. Rooftop solar power, once a concept, is now evolving into a commitment, with initiatives like the CME-Vista joint venture implementing rooftop solar energy systems [2]. Furthermore, a consortium has proposed an $850 million investment for a high-capacity battery plant for power storage in Ho Chi Minh City [3].
Pham Dang An, deputy general director of Vu Phong Energy Group, emphasised the need to address financing, policy, and storage barriers in Vietnam's rooftop solar power sector [4]. Despite these challenges, the race is on to overcome them and drive the energy transition forward.
[1] VietnamNet Bridge. (2025, August 3). Nghe An to revoke investment approval decisions for two solar power projects. Retrieved from https://english.vietnamnet.vn/fms/business/217301/nghe-an-to-revoke-investment-approval-decisions-for-two-solar-power-projects.html
[2] VietnamNet Bridge. (2023, February 26). CME-Vista joint venture implements rooftop solar energy system at Estec Vina factory. Retrieved from https://english.vietnamnet.vn/fms/business/209688/cme-vista-joint-venture-implements-rooftop-solar-energy-system-at-estec-vina-factory.html
[3] VietnamNet Bridge. (2023, March 1). Consortium proposes $850 million investment for high-capacity battery plant for power storage in Ho Chi Minh City. Retrieved from https://english.vietnamnet.vn/fms/business/209731/consortium-proposes-850-million-investment-for-high-capacity-battery-plant-for-power-storage-in-ho-chi-minh-city.html
[4] VietnamNet Bridge. (2025, July 12). Pham Dang An: Race is on to resolve financing, policy, and storage barriers in Vietnam's rooftop solar power. Retrieved from https://english.vietnamnet.vn/fms/business/216910/pham-dang-an-race-is-on-to-resolve-financing-policy-and-storage-barriers-in-vietnams-rooftop-solar-power.html
- Despite the delay in the Vuc Mau Lake and Khe Go Lake solar power projects, the renewable-energy industry in Vietnam continues to grow, with investments in rooftop solar power and high-capacity battery plants for power storage.
- The finance sector plays a crucial role in the energy transition in Vietnam, as seen in the proposed $850 million investment for a high-capacity battery plant.
- The business community, including energy companies and investors, are actively pushing for renewable-energy projects, recognizing the need to address financing, policy, and storage barriers in order to drive the industry forward.
