Global initiatives focused on renewable energy are gaining momentum as key countries like India and Vietnam invest heavily to transition toward cleaner sources of electricity. Recently, India's 2025 Budget outlined ambitious plans for accelerating its clean energy transition, with industry experts heralding it as a significant stride toward establishing the country as a leader in the green energy sector.
According to Girish Tanti, Vice Chairman of Suzlon, the budget's emphasis on self-reliance across manufacturing and agriculture with dedicated support for clean technology—particularly wind, solar, electric vehicles, and battery storage—underscores the government’s commitment to fostering domestic manufacturing capabilities. He expressed optimism about how these moves will accelerate India's position as a global clean energy leader.
Pratik Agarwal, Managing Director of Sterlite Power and Chairman of Serentica Renewables, noted the sustained focus on domestic manufacturing of generation and storage equipment. He highlighted the inclusion of high-voltage transmission equipment which is currently facing global supply deficits, inferring from this focus as both timely and strategically sound.
The Managing Director of Goldi Solar echoed these sentiments, stating the National Manufacturing Mission's targeted support for renewable energy signifies India’s resolve to maintain competitive energy goals. Investments and tax-related announcements outlined during the budget are expected to invigorate public spending, bolstering sectors including renewable energy.
Other industry leaders like Atanu Mukherjee, CEO of Dastur Energy, praised financial incentives aimed at enhancing grid reliability and reducing electricity transmission losses. This encouragement for states to reform their electricity systems is seen as pivotal for improving overall power distribution efficiency.
Chetan Shah, Chairman & MD of Solex Energy remarked on the allocation of Rs 1,500 crore to the solar power segment, solidifying India’s commitment to renewable energy advancement. He stated, "This investment will be pivotal for strengthening grid infrastructure and driving solar adoption, bringing us closer to our clean energy objectives." Alongside Shah, other voices like Manish Dabkara from EKI Energy Services and Rahul Munjal from Hero Future Energies lauded the budget as progressive, emphasizing its role in achieving decarbonization goals and establishing jobs within the renewable energy sector.
To give more momentum to its renewable energy ambitions, India has also announced bold plans for its Nuclear Energy Mission, with Rs 20,000 crore earmarked for Small Modular Reactors (SMRs). This move reflects the broader trend toward diversifying the energy mix and reducing reliance on fossil fuels.
Meanwhile, across the region, Vietnam is fostering its renewable energy adoption through strategic partnerships as demonstrated by the signing of a Memorandum of Understanding (MoU) on January 24, 2025. The MoU, inked between Saigon Jim Brother's Corporation, Solarvest, and Power Engineering Consulting Joint Stock Company 2 (PECC2), aims to leverage Direct Power Purchase Agreement (DPPA) mechanisms through the national grid to supply substantial green electricity for EVM's operations.
Mr. Jack Tan Qi Jie, Global Vice President of Solarvest, emphasized the significance of these partnerships, stating, "This partnership is more than just collaboration—it’s about aligning shared values to tackle renewable energy's economic and operational transition challenges." With Solarvest boasting over 1,300 MW of renewable projects throughout the Asia-Pacific, this alliance is positioned to enable businesses across Vietnam to meet their sustainability targets effectively.
Mr. Emil Lin, CSR Senior Manager at Saigon Jim Brother's Corporation, remarked on the partnership's pivotal role, saying, "By integrating renewable energy, we are not only reducing our carbon footprint but also aligning with our global sustainability goals." This collaboration is indicative of the growing recognition within industries of the value placed on environmental responsibility.
PECC2’s Chief Operating Officer, Nguyen Hai Phu, articulated the collaborative spirit of their agreement. "This partnership signifies more than just legalities; it embodies our shared vision to dismantle accessibility, regulatory, and technical barriers associated with renewable energy adoption," he stated, reinforcing the commitment to enhancing green energy solutions through collective expertise.
Through these interconnected chapters of clean energy advancement, both India and Vietnam set promising examples of how dedicated partnerships and strategic initiatives pave the way for achieving ambitious renewable energy goals. It is clear these nations are not merely participating but taking initiative, which could establish them as central players within the global renewable energy marketplace.