AquaVolt Solutions (AVS), a global leader in floating solar infrastructure, has begun an advanced market survey across several provinces in Vietnam as it prepares for a strategic entry into the country’s renewable energy sector. The company has also confirmed that it is in the final stages of negotiations to sign a Memorandum of Understanding (MOU) with Vietnamese government agencies and energy stakeholders by Q4 2025.
This initiative marks a significant milestone for Vietnam’s clean energy future and aligns with the country’s Power Development Plan VIII (PDP8), which targets accelerated deployment of renewable technologies—including floating solar—to support its ambitious goal of net-zero emissions by 2050.
“Vietnam presents an exciting frontier for floating solar deployment,” said Rashid bin Saeed, Founder and CEO of AquaVolt Solutions. “We see enormous potential in Vietnam’s inland water bodies and coastal zones. Our current survey work is designed to ensure the projects are not only technically viable but also culturally, economically, and environmentally aligned with national goals.”
Floating Solar: A Key Enabler in Vietnam’s Renewable Strategy
Vietnam’s combination of rapid industrialization, population growth, and land constraints has made floating solar an increasingly attractive option for clean energy generation. With over 6,000 reservoirs and extensive hydropower dams, the country offers a massive underutilized surface area ideal for floating photovoltaic (FPV) systems.
AVS’s technology is particularly well-suited for this terrain. The company’s newest generation of floating solar systems—unveiled earlier this year—incorporates temperature-reducing cooling mechanisms, high-efficiency PV materials, and a modular deployment design that can adapt to both inland and coastal water bodies. Recent tests have demonstrated a 20% increase in energy efficiency compared to conventional floating systems.
“Vietnam doesn’t need to wait for land allocation or grid expansion—these systems can be placed quickly over water bodies that are already part of the national energy ecosystem,” said Rashid.
Scouting Key Provinces for Deployment
As part of its pre-investment survey, AVS has dispatched a joint team of engineers, hydrologists, and environmental consultants to assess more than 10 strategic sites across Vietnam, focusing on regions with stable water conditions, existing grid access, and alignment with local development plans.
Provinces currently under assessment include:
Inland Reservoir & Hydropower Sites • Da Mi, Binh Thuan – Large hydropower reservoirs with strong solar–hydro hybrid potential • Dong Nai – Major reservoirs near industrial zones • Long An – Inland solar adoption hub with growing manufacturing base
Coastal & Marine Solar Opportunities • Binh Dinh and Phu Yen – Coastal provinces with potential for dual-use marine solar farms • Can Tho – Centre of the Mekong Delta with access to both inland and tidal water bodies
AVS is also conducting stakeholder consultations with local governments, environmental NGOs, EPC contractors, and community groups to ensure that future deployments are sustainable and socially inclusive.
MOU in Progress with National and Provincial Energy Authorities
AVS has confirmed that discussions with multiple Vietnamese counterparts are progressing toward the signing of a formal MOU before the end of 2025. The MOU will outline a multi-phase development roadmap, covering technical feasibility, permitting procedures, local workforce training, and carbon credit integration.
“The MOU will form the foundation for a long-term partnership with Vietnam,” explained Rashid.“It’s not just a document—it’s a joint vision for how international innovation and local ownership can co-create a greener, more resilient energy future.”
The agreement is expected to include provisions for joint R&D, pilot project deployment (50–100 MW), and a localization strategy to train Vietnamese engineers and technicians in the maintenance and expansion of floating solar infrastructure.
Unlocking Carbon Credit Opportunities in Vietnam
One of the most innovative aspects of AVS’s business model—and a major point of interest for Vietnamese policymakers—is its built-in carbon credit system. All AVS floating solar projects are engineered to meet international certification standards under mechanisms like: • The EU Emissions Trading Scheme (EU ETS) • Verra’s Verified Carbon Standard (VCS) • The Gold Standard Foundation
By producing clean energy on a large scale, AVS projects can generate verified emission reductions (VERs), which can then be sold as carbon credits to companies seeking to offset their carbon footprint.
This model allows Vietnamese corporations, especially those in manufacturing, shipping, and agriculture, to directly participate in carbon markets while supporting the growth of domestic renewable infrastructure.
“Our goal is not just to generate electricity, but to monetize sustainability,” said Rashid. “Vietnamese businesses will benefit from both cheaper power and access to environmental finance tools through our platform.”
A Vision for Long-Term Local Empowerment
AVS’s strategy goes far beyond infrastructure deployment. The company is actively designing a Vietnam Clean Energy Empowerment Program (V-CEEP), which will include: • Technical training partnerships with universities such as Vietnam National University and Ho Chi Minh City University of Technology • Green job creation across installation, O&M, logistics, and environmental monitoring • Scholarships and internships for students pursuing renewable energy careers • Inclusion of local SMEs in the supply chain for modular components and floatation systems
Over the next 5 years, AVS estimates it will help create more than 1,200 direct and indirect jobs through its Vietnam-based activities.
“We are not here to extract—we are here to build capacity, invest in people, and establish Vietnam as a regional hub for floating solar excellence,” emphasized Rashid.
Next Steps: Pilots and Policy Alignment
Following the MOU signing (targeted for Q4 2025), AVS plans to launch a 100 MW pilot program in collaboration with Vietnamese partners. These pilots will serve as testbeds for climate adaptation, load balancing, and carbon credit measurement.
Simultaneously, AVS will work with policymakers to ensure alignment with: • PDP8 renewable targets • Feed-in Tariff (FiT) frameworks • Environmental impact assessment (EIA) standards • Marine spatial planning regulations for coastal projects
About AquaVolt Solutions (AVS)
Founded in 2016, AquaVolt Solutions is a globally recognized innovator in floating solar energy systems, operating across Asia, Africa, and Europe. The company specializes in high-yield, water-based solar deployments that integrate seamlessly with grid infrastructure and carbon offset systems. AVS is committed to accelerating the global transition to clean energy while creating inclusive economic opportunities in every market it serves.
Media & Strategic Partner Inquiries Sustainability & Carbon Credit Team: corporatesustainability@aquavoltsolutions.com
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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