Australian energy trading technology company Powerledger is partnering with Vietnam Electricity Central Power Corporation (EVNCPC) to launch Vietnam’s first peer-to-peer (P2P) energy trading project.
The initial six-month trial will see Powerledger’s technology used by so-called “prosumers” with rooftop solar in Da Nang and Quang Nam provinces to sell electricity directly to consumers.
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“This project is a major step for Vietnam. It will showcase how, with the right technology, issues of intermittency and grid congestion can be overcome whilst still growing renewables. Everyone on both sides of the partnership is looking forward to the results,” said Powerledger chair Dr Jemma Green.
Vietnam has become the world’s tenth-largest producer of solar power, and is the biggest solar power producer in the ASEAN region.
However, the increase in renewables has created imbalances for the grid which has resulted in intermittency issues.
“Powerledger is the leading player in this space and we’re very excited about going into this pilot with them. As the energy landscape evolves, EVNCPC is committed to exploring new ways to meet our climate goals and the changing needs of our customers.
“This pilot project with Powerledger is a demonstration of that commitment and will help to shape the future of Vietnamese energy in years to come,” EVNCPC spokesperson Cuong Do Minh said.
Powerledger says the trial is expected to demonstrate how technology can be used to reduce energy costs, improve price transparency by establishing a Local Energy Market or LEM.
“By taking this approach there is a financial incentive to encourage energy usage that aligns with intermittent generation from renewables, increasing the utility and profitability of renewable assets and reducing the peaks in energy demand,” Dr Green said.
This approach will in turn reduce stress and strain on the energy grid, reducing curtailment and maintenance efforts, as well as increasing the resilience of the network.
The trial will be announced tomorrow at the Australian Vietnam Forum on Energy Transition, which will be attended by representatives from Austrade and the Vietnam energy industry.
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The outcomes of the trial will be shared with electricity regulators and policymakers in Vietnam, to inform future decisions about technology-led solutions which enable greater proliferation of renewable energy.
Powerledger has more than 30 projects in 12 countries including Europe, Asia Pacific, North and South America, including some of the largest distribution and transmission utilities, businesses, energy retailers and property developers globally.
