Latest News about Renewable energy
Vietnam’s commitments at 26th United Nations Climate Change Conference of the Parties (COP 26) will have a big impact on the country’s energy system.
Developing energy is a strategic task to realise the goal of industrialisation and modernisation.
Vietnam’s commitment to increasing its energy capacity using renewable sources will lead to increasing recruitment demand, especially in the next few years, but its human resources are not sufficient.
After the 2021 United Nations Climate Change Conference, commonly referred to as COP26, the Ministry of Industry and Trade (MoIT) was asked to review the Draft Power Development Planning 8.
The country’s road map aims to improve the quality and reliability of the national power supply and the efficient use of electricity.
“The higher the proportion of renewable energy, the higher the electricity price,” said Chair of the Binh Thuan Wind and Solar Power Association Bui Van Thinh.
More Japanese investors are actively entering Vietnam's renewable energy market to satisfy increasing energy demand.
Norwegian Ambassador to Vietnam Grete Løchen and Commercial Counsellor Arne-Kjetil Lian recently have handed over the 'Vietnam Supply Chain Study Report' to Vietnamese Minister of Industry and Trade Nguyen Hong Dien.
The Government of Vietnam is building open mechanisms to mobilise private investment in power projects, especially in renewable energy (RE).
Vietnam is well aware of the importance of changing the structure of energy sources in the direction of increasing the proportion of renewable energy associated with economical, efficient and sustainable use of energy.
“The international pressure to reduce coal-fired thermal power is huge,” said an expert involved in the compilation of the draft of national power development plan 8.
Coal-fired power developers find it increasingly difficult to find capital amid the growing support of renewable energy globally.
In the Draft Power Development Planning 8, one of the power source scenarios with the highest scores is the development of power sources associated with renewable energy under Resolution 55 of the Politburo.
Capital flows into green growth projects have still seen positive signals despite adverse impacts from the COVID-19 pandemic on foreign direct investment (FDI) in Vietnam.
According to the research, Vietnam's solar and wind electricity generation rose from 4.7 TWh in 2019 to 9.5 TWh in 2020. This equaled a 1.98 percentage point increase in the share of total electricity generation.
In the first half of 2021, renewable energy projects, especially solar power, brought great profits to investors, boosting the sector's stocks.
Since many wind power projects may not be put into commercial operation prior to October 31, the Prime Minister and Ministry of Investment and Trade have been asked to extend the feed in tariff (FIT) application.
Taking advantage of its natural conditions and investment attraction policies, the Cuu Long (Mekong) Delta has become a destination for investors in renewable energy projects.