Curtailment: The significant curtailment of solar power plants, especially in the Southern and Central regions, partially curtailing some projects > 50%, is an ongoing reason for concern.Lack of standardized M&A processes: Clear and standardized M&A processes and related documentation e.g., teaser, investment memo, financial models, structured data room with English documents etc., are yet to be established in Vietnam as most sellers lack experience and gathering of information is arduous.Environment and social (E&S) concerns: Some renewable energy projects (especially in hydropower) are lacking required documentation and due diligence on E&S aspects, which present red flags to institutional investors and lenders.Limited access to non-recourse financing: As it is for developers, the financing landscape is still lacking large-scale involvement of the international project financing community, with some large projects, mostly in co-financing constructs with ADB, taking the lead.Model PPA and bankability: As it is for developers, this risk is adversely affecting investment decisions due to unresolved bankability concerns.Regulatory uncertainty: While the regulatory uncertainties experienced so far in Vietnam's solar sector mostly impacted developers, there is always a risk that governments apply retroactive changes to past programs when the costs are perceived as too high, as seen for example in Spain in 2015, with the introduction of a punitive solar tax or in Bulgaria in 2011, which introduced a sudden cut in tariffs.For projects that have been developed under the FIT phase 1 and could not reach COD by June 2019, the mismatch from the FIT phase 2 tariff or other prospective mechanisms is especially pronounced. Fair development premiums and financial feasibility: Due to the described tedious, costly and risky development process, developers require higher development premiums that most investors consider reasonable at the presented level of return and risk РІР‚вЂњ a situation that also worsened through Covid-19 resulting in increased development period and costs for many developers.Covid-19: Many ongoing M&A transactions have stalled or have been cancelled because of the pandemic, forcing Vietnamese project owners to adjust their strategies.The reasons for VietnamРІР‚в„ўs glacial paced merger & acquisition (M&A) activity are many and rooted in multiple areas, including lengthy barriers and hurdles to development (read further details in this article), which naturally impact a projectРІР‚в„ўs potential for acquisition. Clean Power Research: Solar data solutions to maximize PV project performance.Energy Storage North America Special 2018.The smarter E Europe 2019 special edition.Market overview: Microgrid control systems.Market overview: Large-scale storage systems.

The weathering magazine vietnam.pdf