Marubeni, VinGroup in ''first of a kind'' Vietnam BESS project
The project''s official inauguration event held in December. Image: VinGroup. A green energy subsidiary of Japanese conglomerate Marubeni has brought online a megawatt-scale battery
Vietnam's battery market is no longer a quiet corner of Southeast Asia, it is rapidly becoming the engine room of the region's electrification push. From electric vehicle (EV) rollouts to large-scale energy storage deployments under the Power Development Plan VIII (PDP8), the sector is witnessing unprecedented momentum.
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According to Makreo Research, between 2021 and 2024, the market expanded at a CAGR exceeding 5%, laying the groundwork for the next growth phase where domestic lithium-ion battery production and battery energy storage systems (BESS) are central to Vietnam's strategic ambitions.
While it is not Vietnam's first megawatt-scale stationary BESS project to date, the companies involved claimed it is the first such project to leverage third-party investment in battery storage to reduce electricity costs for a private customer. Resort operator VinPearl will pay no upfront cost for the equipment Marubeni owns.
The project''s official inauguration event held in December. Image: VinGroup. A green energy subsidiary of Japanese conglomerate Marubeni has brought online a megawatt-scale battery
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