Vietnam is one of the first three countries selected for a pilot program under a new partnership initiative between the Asian Development Bank (ADB) and the Global Energy Alliance for People and Planet (GEAPP), aimed at developing battery energy storage systems (BESS). Alongside Mongolia and Cambodia, Vietnam will receive technical and financial support to promote energy storage solutions - a key factor in transitioning to a low-carbon economy.
Through the newly launched ENABLE platform, ADB is coordinating a grant of USD 500,000 from the Smart Energy Innovation Fund (SEIF) and an additional USD 250,000 from GEAPP to support Vietnam in training, pilot project development, policy formulation, and technical standardization. ENABLE also aims to promote innovative financing models and the application of digital technologies, including artificial intelligence, in managing and operating storage systems.
Illustration Photo. Battery energy storage is considered a crucial stepping stone for Vietnam to realize its Power Development Plan VIII, emphasizing a substantial expansion of renewable energy sources. By 2030, Vietnam is expected to reach a storage capacity of 10,000–16,300 MW, potentially increasing to over 96,000 MW by 2050 to accommodate the growing share of wind and solar energy.
According to ADB, renewable energy is booming across the Asia-Pacific region, with capacity expected to increase by nearly 430 GW between 2023 and 2028. However, countries must rapidly develop efficient energy storage infrastructure to ensure system stability and fully harness clean power.
“Vietnam aims for wind and solar to account for nearly half its total electricity capacity by 2030. To achieve this, energy storage systems are indispensable,” emphasized Nguyễn Mạnh Cường, representative of the Vietnam Institute of Energy.
The selection of Vietnam by ADB and GEAPP to participate in the ENABLE platform not only reflects international confidence, but also opens the door for Vietnam to adopt cutting-edge technologies, mobilize global resources, and realize its sustainable development goals in the energy sector.