VNRecently on March 12, at The Solar Week Vietnam 2026 – the region’s most prestigious forum on renewable energy, Mr. Phuong – Business Development Manager of Aquarius Construction Investment Company Limited, delivered a strategic presentation in Panel 3. The speech not only painted a comprehensive picture of the trend of integrating Solar Power and Battery Energy Storage Systems (BESS) but also offered sharp insights into market “bottlenecks” and Vietnam’s energy vision for 2030.
1. Aquarius: The position of a pioneering Developer and EPC Contractor
Opening Panel 3, the representative of Aquarius reaffirmed the company’s core competencies and long-term commitment to the energy transition process in Vietnam. Positioned as a specialized EPC contractor and project developer for the Commercial & Industrial (C&I) segment, Aquarius is at the forefront of providing Rooftop Solar solutions integrated with Battery Energy Storage Systems (BESS). To date, Aquarius has successfully handed over more than 50MWp of capacity and is continuing to deploy an additional 30MWp in this year’s project pipeline. These proven figures serve as a solid foundation for Aquarius to bring highly practical and applicable perspectives to businesses and investors at the event.
Mr. Phuong, representative of Aquarius, with other prestigious speakers at the event.
2. BESS Integration: From an “Add-on Option” to the “Core” of the Energy Ecosystem
Analyzing deeply the energy transition scenario of the C&I sector, Mr. Phuong pointed out that the BESS is no longer a supplementary solution, but is rising to become a vital requirement driven by 3 key dynamics:
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Complying with global Green “Rules of the game”: To participate in the supply chains of multinational corporations (such as LEGO, Samsung) and meet stringent standards like RE100 or the Carbon Border Adjustment Mechanism (CBAM) when exporting to the EU and US markets, factories are facing immense pressure. Many clients have set a target for renewable energy to account for 50% of their energy mix by 2030. This is impossible if they solely rely on daytime solar power. BESS is the only answer to maintaining a clean energy supply for night shifts.
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Optimizing costs & Preventing waste: For factories with lunch breaks, the lack of a BESS can lead to a waste of 20-30% of the generated electricity. Integrating BESS helps store surplus energy and discharge it during peak hours, maximizing the benefits from commercial electricity price differences. A prime example is the success of the 2.3MWh BESS system at the Central Retail shopping center (Hanoi).
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The driving force from the Power Development Plan VIII (PDP8) and the OPEX Model: According to the revised PDP8, new large-scale solar power projects are mandated to integrate storage (at least 10% of capacity for 2 hours) to stabilize the national grid, aiming for a target of 10,000MWp of BESS by 2030. Particularly, under the OPEX investment model, BESS brings an outstanding competitive advantage as facility owners can simultaneously enjoy cheaper electricity rates and possess an absolutely safe backup power source.
Mr. Phuong, Business Development Manager at Aquarius, speaking at the event.
3. Identifying “Bottlenecks” to unlock billions of dollars in capital flows
Through the lens of a practical project developer, Mr. Phuong frankly pointed out the barriers preventing the large-scale BESS market from accelerating as expected:
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Gaps in Technical Standards: The absence of synchronized national standards for fire safety and regulations on battery disposal/recycling is creating major hurdles in the approval process at local government levels.
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Risks from the Legal Framework: Although the capital expenditure (CAPEX) for BESS has decreased, its legal risks remain higher than traditional PV systems. Specifically, BESS projects over 10MWp require complex power planning licenses, which reduces the readiness of both investors and factory owners.
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Revenue Certainty: This is the core barrier. Despite the huge demand for system leasing, international investors remain hesitant because the cash flow is unstable. The market is craving a standardized Power Purchase Agreement (PPA) that incorporates a “capacity payments” mechanism (paying for the availability of the storage system, rather than just measuring the discharged electricity) to ensure “Bankability” for the projects.
Speakers and representatives of prestigious brands in the energy industry.
4. The 2030 Vision: The Era of “Synchronization”
Concluding Panel 3, the Business Development Manager of Aquarius emphasized that the 2030 energy landscape will not be dictated merely by Technology or Capital alone, but lies in the harmonious synchronization between two elements:
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Grid Infrastructure (The hard ceiling): The solar power boom in 2019-2020 left a costly lesson regarding capacity curtailment due to an overloaded grid. The success or failure of the upcoming phase depends entirely on the construction progress of 12,300 km of new 500kV transmission lines and the effective operation of BESS systems.
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Policy Framework (The strategic key): The market is witnessing a monumental turning point: transitioning from a Feed-in Tariff (FIT) mechanism to a market-driven model. The Direct Power Purchase Agreement (DPPA) mechanism allows developers to sell electricity directly to large customers, alongside policies prioritizing behind-the-meter rooftop solar development, which will dominate the market in the coming decade.
“Technology and Capital are ready. The market does not lack money; we are only lacking bankable projects. The ‘gold rush’ era of FIT prices has closed, making way for a more sophisticated market led by DPPA and on-site storage systems. In the next 5 years, the decisive factor for victory is not just how many projects we can build, but how effectively the grid can absorb them through a synchronized legal framework,” Mr. Phuong affirmed.
ABOUT AQUARIUS CONSTRUCTION INVESTMENT COMPANY LIMITED With extensive experience as an EPC General Contractor and Project Developer, Aquarius is proud to be a strategic partner accompanying businesses on their green transition journey. We provide comprehensive Rooftop Solar and Battery Energy Storage System (BESS) solutions, integrating flexible financial models (OPEX, DPPA), helping businesses optimize costs, perfectly meet global standards, and achieve breakthrough competitive advantages.
For partners and customers in need of in-depth energy solution consulting, please contact Aquarius for direct support.