In launching its Japan-based battery business, SoftBank is collaborating with two companies possessing expertise in advanced battery-related technologies. For battery cells, with a view to mass production, SoftBank began collaborating with COSMOS LAB (CEO: Ju-Hyuk Lee, “COSMOS LAB”) to jointly develop innovative battery cells that combine highly safe and non-flammable characteristics with superior energy storage performance. The zinc-halogen batteries developed by COSMOS LAB use pure water as its electrolyte, and its key feature is its ability to eliminate fire risks associated with the currently dominant lithium-ion batteries. SoftBank and COSMOS LAB aim to establish technology for mass production at an early stage, and commence mass production around FY2027.

For energy storage systems, SoftBank began collaborating with DeltaX Co., Ltd. (CEO: Stephen Kim, “DeltaX”) to develop and manufacture an energy storage system that achieves world-class energy density.*2 In the development of energy storage systems, DeltaX’s Cell Connecting System (CCS) design*3 and Cell to Pack (CTP) technology*4 make it possible to maximize the performance of each individual battery cell, and by applying these technologies to next-generation battery cells, further improvements in energy storage performance can be achieved. Furthermore, SoftBank will integrate an energy management system (EMS) equipped with AI-based power demand forecasting capabilities developed through its electricity business, and design and develop an energy storage system that achieves world-class energy density, with the aim of achieving mass production on a GWh-per-year scale.

SoftBank plans to deploy these Japan-produced batteries at the large-scale AI data centers it is developing. SoftBank also plans to provide them sequentially for grid applications in Japan, as well as for factories and other industrial uses, as well as for residential use, with a view to expanding into global markets over the medium term. Through these initiatives, SoftBank aims to achieve annual revenue of over 100 billion JPY for its domestic battery business by FY2030.

About Innovative Battery Cells

Innovative battery cells are the world’s first*5 to integrate the technologies of two types of next-generation batteries that are attracting attention as future battery technologies. By using a halogen-based material for the cathode and zinc for the anode, it offers charge-discharge characteristics with minimal energy loss and achieves energy efficiency equal to or greater than lithium-ion batteries.

In addition, as innovative battery cells do not use a flammable organic electrolyte and instead use pure water as the electrolyte, the risk of ignition does not arise in principle due to its structure, thereby achieving a high level of safety. Furthermore, key raw materials, such as halogen and zinc, can be procured locally in Japan, helping to strengthen the supply chain.

About Battery Energy Storage Systems (BESS)

A battery energy storage system (BESS) is energy infrastructure centered on battery cells that handle power storage, supply and supply–demand optimization. With the expansion of renewable energy adoption and increasing variability in power supply and demand, BESS is becoming critical infrastructure that supports the stable supply of electricity. This system leverages DeltaX’s world-leading BESS technologies. Through the adoption of its proprietary CCS design and CTP technology, along with rigorous reductions in component count and the minimization of unused space within the enclosure, DeltaX has achieved a storage capacity of 5.37 MWh in a standard containerized lithium-ion battery BESS and aims to achieve comparable or greater capacity with innovative battery cells.

In addition, by incorporating an EMS equipped with an AI-based power demand forecasting function developed independently by SoftBank, optimal control of charging and discharging will be achieved, enabling efficient and stable operation in accordance with varying electricity demand and renewable energy generation levels.

Through this business, SoftBank will actively promote initiatives to ensure a stable supply of electricity and enable efficient energy utilization while contributing to the development of next-generation power infrastructure in Japan.

AtkinsRéalis, a company with a substantial global footprint boasting over 40,000 employees across more than 50 countries, brings extensive experience to the table. Their operations in the U.S. are robust, encompassing over 90 offices spread across 32 states. Their portfolio of work in the United States includes critical projects within airports, road infrastructure, nuclear power facilities, and industrial plants. Notable U.S. projects undertaken by AtkinsRéalis include ongoing maintenance at San Francisco International Airport, participation in a small modular reactor project for Energy Northwest, and involvement in the Miami-Dade waste-to-energy plant initiative.

HanmiGlobal has steadily increased its presence in the U.S. market, primarily through construction management endeavors for prominent Korean companies operating in sectors such as semiconductors, battery manufacturing, and subsea cable production. The company’s strategic acquisition of the U.S.-based design and engineering firm Otak in 2011 played a crucial role in solidifying its local network and enhancing its engineering capabilities within the region.

This newly formed alliance on U.S. energy projects will see the two companies collaborating across the entire project lifecycle. This comprehensive approach will extend from initial project sourcing and proposal development through to order acquisition and the eventual execution of projects. The scope of this partnership is designed to encompass crucial areas such as project management, sophisticated design and engineering services, expert permitting consulting, and detailed environmental impact assessments. Both firms have articulated their intention to provide integrated construction engineering services, with roles and responsibilities to be determined on a project-by-project basis.

The initial strategic focus of this partnership will be directed towards large-scale U.S. energy projects  and manufacturing projects. This includes supporting facilities led by Korean enterprises, alongside the development of both nuclear and renewable energy ventures. To facilitate this, the two organizations also intend to establish a dedicated working-level consultative body. This body will be instrumental in developing project-specific cooperation strategies and proactively identifying new business opportunities within the dynamic U.S. market.

Kim Yong-sik, head of operations at HanmiGlobal, expressed optimism regarding the collaboration. “We expect cooperation with a global project management company to create more opportunities to win projects in the US market,” he stated, highlighting the anticipated benefits of this strategic alliance. This partnership signifies a focused effort to leverage combined strengths for future growth and success in the American industrial and energy landscape.

Industrial competitiveness and energy affordability remain major concerns as Austria attempts to balance decarbonisation with economic growth. Industries contributed 22% of gross domestic product (GDP) and employed 26% of the workforce in 2024, while also facing high energy costs and increasing competitive pressure. During the 2021-2022 energy crisis, the government introduced tax relief, direct grants and targeted support programmes aimed at both industry and households, although several of these measures have since been reduced or withdrawn. The Electricity Market Act (ElWG), adopted in December 2025, seeks to redesign the electricity market by lowering energy costs, increasing flexibility and protecting vulnerable consumers. The report highlighted the need for further measures, particularly to improve competition in the electricity market, where fewer than 5% of consumers change suppliers, while also strengthening oversight of district heating systems. Austria’s Industrial Strategy 2035 outlines additional funding support for innovation, low-carbon technologies and subsidised electricity prices for energy-intensive sectors. More than 11 000 energy communities were operational by the end of 2025, offering consumers new opportunities to improve affordability and contribute to the country’s energy transition goals.

The report also stressed that legislative reform and faster regulatory implementation are essential to accelerate renewable deployment and create a lower-cost, flexible energy system. Delays surrounding the Renewable Energy Expansion Acceleration Act (EABG) and other legislation have slowed momentum and created uncertainty for investors. Renewables supplied 90% of Austria’s electricity demand in 2024, while solar photovoltaic (PV) accounted for 11.3% of supply. However, Austria remains behind schedule in reaching its target of adding around 10 terawatt hours (TWh) of annual wind generation by 2030 because of permitting barriers and governance challenges. The report recommended streamlined permitting, co-ordinated spatial planning and stronger stakeholder engagement to support wind development. Austria’s Integrated Network Infrastructure Plan (ÖNIP) was identified as a positive step toward integrated planning across electricity, gas and hydrogen systems, though additional co-ordination is needed regarding gas network decommissioning and district heating expansion. Flexibility will also become increasingly important as electricity demand is projected to rise by 26% by 2030 and more than 75% by 2040 from 2024 levels. The ElWG has already introduced reforms including dynamic time-of-use tariffs, local flexibility markets and the removal of double network fees for electricity storage.

Austria’s research and innovation ecosystem continues to play a critical role in advancing industrial decarbonisation and supporting long-term energy transition goals. Public spending on research and development exceeded 3.3% of GDP in 2024, while public spending on energy R&D reached EUR 401 million. Investment is focused on hydrogen, carbon capture, utilisation and storage (CCUS), electrification and energy efficiency technologies. Austria’s hydrogen strategy targets 1 GW of electrolysis capacity and aims to replace at least 80% of fossil-based hydrogen used in industry by 2030. At the same time, the country is seeking to accelerate the decarbonisation of buildings and transport, sectors which remain major contributors to emissions. Although oil use in buildings declined from 23% to 8% between 2005 and 2024, approximately 850 000 gas boilers and 450 000 oil boilers are still operating nationwide. Austria’s transport sector remains responsible for 38% of energy-related emissions, reinforcing the importance of electric vehicle deployment, charging infrastructure expansion and shifting freight transport from road to rail. The report concluded that Austria’s largely decarbonised electricity system, extensive pumped hydro capacity and cross-border interconnections provide a strong foundation for future progress. However, achieving the country’s climate-neutrality target by 2040 will require timely legislation, accelerated infrastructure deployment, sustained investment and stronger co-ordination across all sectors to fully realise its energy transition goals.

According to Nguyen Manh Quang, deputy head of the Business and Power Purchase Department under the Vietnam Electricity (EVN), the national power system has faced “dual pressure” since the beginning of 2026 because of rapidly increasing electricity demand and geopolitical developments affecting imported fuel supplies. The forecast impact of the El Nino phenomenon is also expected to reduce water inflows into hydropower reservoirs, creating additional strain on electricity generation capacity. In response, EVN has implemented measures aligned with Resolution No. 70-NQ/TW of the Politburo and Directive No. 10/CT-TTg of the Prime Minister. The utility has formed a steering committee dedicated to electricity supply management for 2026 while coordinating with the National System and Market Operator (NSMO) to create flexible operating scenarios designed to maintain energy security and avoid a power shortage situation during the dry season.

Among EVN’s major priorities is the expansion of self-produced and self-consumed rooftop solar power. Power corporations have introduced online registration systems through websites and customer service applications to simplify customer participation. EVN has additionally proposed a “one-stop-shop” mechanism to streamline investment procedures while also recommending green credit policies and preferential financing support. Alongside rooftop solar development, EVN is pushing forward electricity-saving programmes and demand response (DR) initiatives. The utility aims to save 3% of total electricity consumption in 2026 while targeting a reduction of around 10% during the peak dry-season period between April and July. Industrial parks and businesses are being encouraged to shift operating schedules away from peak hours to help ease pressure on the grid and reduce the likelihood of a power shortage.

EVN is also studying adjustments to peak-hour electricity pricing, including extending the peak pricing window from 6:30 p.m. to 10:30 p.m. to better align with current consumption patterns. At the same time, the company is evaluating additional incentives for customers participating in demand response programmes. As renewable energy contributes a growing share of Vietnam’s electricity mix, battery energy storage systems are increasingly viewed as critical to improving grid stability. EVN has tasked the Northern Power Corporation (EVNNPC) with developing 530 MW of BESS capacity, while the Hanoi Power Corporation (EVNHANOI) is assigned 275 MW and the National Power Transmission Corporation (EVNNPT) approximately 300 MW. These projects are expected to support transmission flexibility and ease grid pressure during peak demand periods.

Nguyen The Huu, Deputy Director of the Electricity Authority under the Ministry of Industry and Trade, said the ministry approved the national power system operation plan for 2026 in late 2025. Under the base scenario, electricity demand growth is projected at around 8.5%, although an extreme dry-season scenario could see growth rise to 14.1%. To address these risks, the ministry is prioritising efficient use of all available power sources, especially hydropower. Reservoirs in northern Vietnam are maintaining elevated water levels ahead of peak dry-season demand. Authorities are simultaneously working to strengthen fuel supply for gas-fired thermal plants and accelerate major generation and transmission projects. The Vung Ang II thermal power plant has entered commercial operation, contributing around 1,300 MW to the national grid, while upgrades at several 500kV substations, including Pho Noi, Lai Chau and Hoa Binh, are intended to improve electricity transmission to northern regions.

The ministry has also directed power producers to maintain strict maintenance schedules to maximise generating unit availability while continuing the rollout of BESS, rooftop solar systems and demand-side management initiatives. Authorities noted that tensions in the Middle East have affected global LNG supply and prices and indirectly influenced coal markets through rising transportation costs. However, officials stated the impact on Vietnam remains limited because imported LNG still accounts for a relatively small proportion of the country’s power generation fuel mix. Regarding coal supply, relevant agencies have been instructed to diversify suppliers, increase reserves and strengthen domestic mining capacity to ensure uninterrupted fuel availability for power generation.

By the end of the first quarter of 2026, renewable energy sources including wind, solar and biomass represented approximately 26% of Vietnam’s installed power capacity. Despite this progress, these resources remain highly dependent on weather conditions, prompting authorities to view pumped-storage hydropower and energy storage systems as essential for improving power regulation and renewable energy optimisation. EVN also warned that pressure on electricity supply is expected to increase during the second quarter of 2026 due to hotter weather, industrial recovery, the expansion of artificial intelligence and digital transformation, and rising electric vehicle adoption.

To maintain system reliability, EVN has instructed generating units to secure adequate fuel supplies, maintain generating unit availability according to NSMO requirements, and operate hydropower reservoirs flexibly to balance agricultural water needs with electricity generation. EVNNPT is focusing on equipment maintenance, accelerating BESS installation and ensuring safe transmission operations, particularly in northern Vietnam. Meanwhile, EVN is expediting several major projects, including the Quang Trach I thermal power plant, which is expected to connect its first unit to the national grid in April 2026 and begin commercial operation in May 2026. Development work is also progressing on the Quang Trach II and III LNG power plants, the expanded Tri An hydropower plant and the Bac Ai pumped-storage hydropower project.

Several urgent transmission projects are also scheduled for completion during the second quarter of 2026, including the 500/220kV Nho Quan – Phu Ly – Thuong Tin transmission line, the 220kV Nhon Trach 3 power plant – Long Thanh line, the 220kV West Hanoi – Thanh Xuan line, the 220kV Dai Mo substation, and 110kV transmission lines supplying power to Phu Quoc ahead of APEC-related activities. Through coordinated efforts across power generation, transmission, electricity conservation, energy storage and demand management, Vietnam’s power sector aims to maintain energy security, fight power shortage and support socio-economic development despite continuing volatility in the global energy market.

The Astra Solar Power Project, situated in Currimao, commenced its construction phase on May 5. This 80.6-MWp facility has secured a P2.7-billion green project finance facility from Security Bank, highlighting collaborative financial support for sustainable initiatives. The Astra Solar project is projected to generate around 142 gigawatt-hours of clean electricity annually. This output is estimated to be sufficient to power approximately 120,500 Filipino households and contribute to avoiding an estimated 95,400 tonnes of greenhouse gas emissions each year, a figure comparable to planting 1.5 million trees.

Following this, on May 6, Vena Energy held a ceremonial groundbreaking for the Opus Solar Project in Paoay. This larger development, with a capacity of 300 MWp, spans an area of 190 hectares. Notably, the Opus Solar Project represents a pioneering fully non-recourse renewable energy development in the Philippines, with its financing exclusively arranged by international banks. This project secured a $210-million green loan from seven global financial institutions. Once operational, Opus Solar is expected to supply energy to roughly 445,000 households and offset around 349,000 tonnes of greenhouse gas emissions annually, a significant contribution to environmental protection efforts.

The groundbreaking ceremonies were attended by prominent local officials, including Ilocos Norte Governor Cecilia Araneta Marcos and Vice Governor Matthew Joseph Manotoc, alongside Currimao Mayor Edward Quilala and Paoay Mayor Shiella Galano, signifying strong local backing for these renewable energy ventures. Executives from Vena Energy present included Vena Group chief operating officer Juan Mas Valor, Vena Energy head of Philippines Samrinder Nehria, and head of project development Mia Jarumayan.

Juan Mas Valor highlighted the broader impact of these investments, stating, “We are proud to see how our investments continue to create local jobs, support community aspirations and drive the Philippines’ energy transition forward.” These new Vena Energy projects build upon the company’s existing operational assets in the region, including the 20-MW Mirae Asia Energy Corp. and the 83.3-MW Nuevo Solar Energy Corp. projects. These developments are integral to supporting the Philippine government’s ambitious targets for renewable energy integration into the national power mix, aiming for 35 percent by 2030 and 50 percent by 2040.

Samrinder Nehria further emphasized the collaborative nature of these undertakings: “Opus Solar and Astra Solar demonstrate how strong cross-border and local collaboration can accelerate the transition to clean energy while upholding high standards of environmental and social governance.” The successful initiation of these Vena Energy Ilocos Norte solar projects marks a significant step in the nation’s journey towards a sustainable energy future. The expansion of renewable energy capacity in Ilocos Norte is a crucial component of the Philippines energy transition.

“At Apple, our commitment to the environment is also a driving force for innovation across the company and around the world,” said Sarah Chandler, Apple’s vice president of Environment and Supply Chain Innovation. “We’re proud to expand our efforts to invest in India’s clean energy economy and protect the country’s precious natural resources.”

Investing in Renewable Energy Infrastructure

Apple is expanding its renewable energy investments in India in collaboration with CleanMax, one of the country’s leading renewable energy developers. Apple’s initial investment of INR 100 crore will support the development of more than 150 megawatts of new renewable energy capacity enough to power an average 150,000 Indian households each year with opportunity to further expand in the coming years. The partnership aims to advance Apple’s efforts to scale renewable energy across its supply chain in India.
Apple previously worked with CleanMax on a portfolio of rooftop solar projects to help power Apple’s offices and retail stores in India with 100 percent renewable energy.

Reducing Plastic Pollution

With conservation organisation WWF-India, Apple is supporting recovery-focused recycling and waste management initiatives that prioritise environmental and social safeguards. Building on WWF-India’s collaboration with waste-management pioneer Saahas Zero Waste in Goa, this model establishes facilities that collect, sort, and recover recyclable materials with full traceability. This prevents plastic leakage into surrounding ecosystems. With Apple’s support, WWF-India is now expanding this system-strengthening approach to new regions, including in Coimbatore, in close collaboration with local authorities, communities, and waste workers. By strengthening local infrastructure and governance, the initiative supports a circular waste system that enables responsible material recovery at scale.

Fostering Green Entrepreneurship

Apple is also supporting early-stage entrepreneurs through a new partnership with Acumen, providing catalytic grants to six green enterprises developing solutions across waste management, circular economy and consumption, and regenerative agriculture and livelihoods. The program provides mentorship, strategic guidance, technical assistance, and network access to help social entrepreneurs validate promising business models and put them on a path to scale.

Apple has previously supported Acumen’s Energy for Livelihoods Accelerator for social enterprises focused on clean energy innovation. Social enterprises like Saptkrishi are helping small farmers reduce crop losses with its low-cost storage solution, Sabjikothi, while Yotuh Energy is building electric refrigerated trucks to make food and medicine transport cleaner and more efficient. And Mowo Fleet is creating new livelihood opportunities by enabling women to become EV drivers and entrepreneurs.
These latest projects reflect Apple’s deep commitment to the environment. Last month, Apple released its Environmental Progress Report, charting Apple’s journey to be carbon neutral across its entire footprint and sharing additional progress in renewable energy, materials innovation and recycling, water stewardship, and zero waste. Overall, Apple has reduced its global greenhouse gas emissions by more than 60 percent compared to 2015 levels, even as its revenue increased by 78 percent during the same period.

Across approximately 40,000 square meters of exhibition space, more than 650 companies from 27 countries will be showcasing their newest and most tried-and-tested technologies. Leading companies such as Mitsubishi, Onsemi, Sumida, and Toshiba will all be in attendance. These will be joined by an array of newcomers, including Allegro MicroSystems, NHK Spring, and Moteon, all of whom will also present their latest innovations. A complete list of this year’s exhibiting companies, as well as the products and solutions they will be presenting, is available in the online exhibitor search on the PCIM website.

Wide range of presentations across four stages

This year, a new presentation stage, the AI & Data Centers Stage, will be joining the Exhibitor, Technology, and E-Mobility & Energy Storage stages at the PCIM Expo 2026 to shine a light on two of the most important future trends in power electronics. The expert presentations and panel discussions will give visitors in-depth insights into current developments, innovative technologies, and practical applications.

Each stage has a different focus to offer a broad selection of illuminating presentations.

Highlights of the Technology Stage

• Fraunhofer IISB: 1200V SiC High-Temperature Power Module as Reference Development Platform
• Fraunhofer IAF: Scaling up the Power of GaN Technologies: Paving the Way for the 1200 V Class and Beyond
• Bosch: Maximizing SiC Power – Is Double-Sided Cooling the Right Choice?
• Infineon: Optimizing Soft-Switching Operation of GaN at High Frequency

Highlights of the AI & Data Centers Stage:

• Yole: GaN Powering the AI Data Center: Enabling Efficient Next-Generation Power Delivery
• ECPE: White Paper on AI in Power Electronics

The E-Mobility & Energy Storage Stage will focus on current and future developments in power electronics for use in electromobility and energy storage. This year, leading companies such as Wolfspeed, Hitachi, and Littelfuse will introduce their applications.

University Research Zone to showcase innovations from academia 

At the PCIM Expo 2026, the University Research Zone will offer exclusive access to the most recent findings from power electronics research. Each day will feature different universities and research institutes offering insights into the latest developments from the world of research.

Below are just some of the universities that will be presenting recent projects:

• Stuttgart University: Advanced Wide-Bandgap Semiconductor Reliability Characterization and System Design
• University of Edinburgh: Advancing Wide-Bandgap Power Semiconductors to MW-Class Converter Applications
• University of Southern Denmark: New Generation Electrolytic and Film Capacitors

Conference highlights: a spotlight on artificial intelligence and future-oriented innovations

As usual, the PCIM Expo will be accompanied by the PCIM Conference – an exclusive platform that promotes exchange between the realms of industry and science. Participants can look forward to an extensive line-up of first-rate talks and poster presentations – including numerous first publications from industry and science – that will surpass 500 for the first time.

In addition, the PCIM seminars, which are held over the two days before the exhibition, offer a unique setting for direct discussion of specialized topics along the entire power electronics value chain.

For more information, please visit the homepage of the PCIM – Hub for Power Electronics.

The Luau solar storage park now holds the distinction of being the largest off-grid solar park on the African continent, taking over from MCA’s Cazombo solar park, which was commissioned in late 2025. The new facility is designed to provide essential power to over 90,000 residents in its vicinity. Furthermore, the integrated battery bank ensures a consistent power supply even during nighttime hours, completely eliminating the reliance on fossil fuels, according to statements from MCA.

Strategically located in eastern Angola along the Lobito Corridor, a vital railway and logistics initiative aimed at connecting the Port of Lobito on the western coast to the Democratic Republic of Congo and Zambia to the east, the solar storage park’s positioning was a key factor in attracting considerable European investment. The largest off-grid solar park in Africa, valued at €87 million (approximately $102 million), benefited from financing structured by British Standard Chartered Bank. This was further supported by the German Export Agency, which provided a guarantee amounting to around €1 billion, reinsured by export agencies from Portugal and South Korea.

Both the Luau and Cazombo solar facilities are integral components of Angola’s broader Rural Electrification Project. This government-driven initiative is focused on deploying 46 autonomous minigrids powered by solar parks, with the overarching goal of extending energy access to more than one million individuals across 60 communes within Angola.

Manuel Couto Alves, Chairman of MCA, said, ““The completion of the Cazombo and Luau parks marks just the beginning of a structural and ambitious programme, which will continue to expand in the coming years.”

A recent government directive, issued following a high-level meeting chaired by Prime Minister Le Minh Hung, mandates authorities to guarantee an uninterrupted energy supply. A key component of this plan involves enhancing electricity imports from neighboring countries, with a pronounced focus on Laos and China. The directive underscores Vietnam’s growing dependence on cross-border power trade, highlighting Laos’s pivotal role due to its expanding portfolio of hydropower and renewable energy projects.

The Ministry of Industry and Trade has been tasked with expediting the construction of additional power lines to facilitate greater electricity transmission to northern Vietnam. These infrastructure improvements are targeted for implementation as early as 2027, signaling a commitment to strengthening the physical links for power exchange.

Recent data illustrates the escalating importance of Laos in Vietnam’s energy matrix. In the first quarter of 2026, Laos supplied a record 2.92 billion kilowatt-hours (kWh) of electricity to Vietnam, representing approximately 3.8 percent of Vietnam’s total power output, according to a report. This figure represents a substantial increase of nearly 120 percent compared to the 1.33 billion kWh transmitted in the same period of 2025, a testament to improved cross-border transmission capabilities and the successful commissioning of new renewable energy initiatives in Laos.

By the close of 2025, Vietnamese authorities had already greenlit electricity imports from 47 projects located in Laos, collectively boasting an installed capacity of 8,260 megawatts (MW). Of these, power plants with an installed capacity of 2,379 MW were actively supplying electricity last year, an increase from the 1,700 MW in 2024, indicating a robust pipeline of export-oriented generation projects in Laos.

In a significant development, the Vietnamese government has expressed its readiness to review existing inter-governmental agreements and adjust its national power development plan to accommodate larger electricity purchases from Laos. This flexibility is expected to unlock further opportunities for Lao energy exports as more generation capacity comes online. This aligns directly with the Lao government’s ambition to establish itself as a substantial regional energy exporter, capitalizing on its extensive hydropower resources and burgeoning investments in wind and solar energy. The increasing demand from Vietnam is poised to boost export revenues and stimulate further investment in Laos’s energy sector, especially as new generation capacity becomes operational.

While Vietnam is concurrently exploring short-term contingency measures, such as the potential deployment of floating power plants to address immediate supply gaps, particularly in its industrialized northern region, imports from Laos are projected to assume a more sustainable and significant role in meeting medium to long-term energy demands. The directive also advocates for enhanced energy efficiency through electricity-saving campaigns and the wider adoption of rooftop solar systems integrated with battery storage. These initiatives are designed to alleviate pressure on the national grid and support a broader transition towards cleaner energy sources. As regional energy integration deepens, the power partnership between Laos and Vietnam is poised to become a crucial component of mainland Southeast Asia’s evolving energy infrastructure.

The agreement centers on the Minerva project, a substantial renewable asset base valued at approximately $994 million (850 million euros). This portfolio encompasses a combined installed capacity of 706 megawatts, spread across 13 wind farms and six photovoltaic plants. The impending finalization of this Repsol renewables deal, anticipated within the coming weeks, is designed to inject capital into Repsol by bringing in a minority partner for its renewable asset holdings.

As part of its overarching strategic roadmap for the 2026-2028 period, Repsol has articulated a clear intention to augment its renewable generation capacity. A key component of this strategy involves maximizing the value derived from these assets through strategic partnerships. By the year 2028, Repsol projects its operational renewables portfolio to reach an impressive 9,000 MW, featuring enhanced value and profitability, with a particular emphasis on wind, solar, and energy storage ventures. This strategic approach prioritizes lucrative opportunities within Spain and the United States, with the explicit aim of generating substantial value and achieving returns exceeding 10%.

For Masdar, this acquisition aligns with its ambitious vision to emerge as a preeminent global player in the renewable energy sector, targeting a combined asset capacity of 100 GW by 2030. Masdar’s ownership structure includes Abu Dhabi’s oil major ADNOC, the sovereign investment firm Mubadala, and the state utility TAQA, underscoring its deep resources and strategic backing. The UAE firm has already established a significant presence in the Iberian markets of Spain and Portugal, a footprint bolstered by recent acquisitions of stakes in solar and wind assets. In a notable transaction earlier in 2024, Masdar acquired Saeta Yield from Brookfield for $1.4 billion, significantly expanding its portfolio with 745 MW of predominantly wind assets and a promising development pipeline of 1.6 GW across Spain and Portugal. Last year also saw Masdar secure a 49.99% stake in a portfolio of four operational solar photovoltaic plants from Enel Green Power Espana S.L., a subsidiary of Endesa, further demonstrating its active engagement in the European renewable energy landscape. The sustained interest from Masdar in Spain’s renewable sector highlights the country’s importance in the global transition to cleaner energy sources. This significant Repsol renewables deal underscores the dynamic nature of the clean energy market.