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.

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.

The Mekong Delta province of Bac Lieu has chosen renewable energy as one of its top priorities, aiming to restructure the economy towards green growth and sustainable development.

Vietnam has a globally relevant offshore wind resource, enabling it to generate 30% of total national electricity by 2050.

In the most recent heat wave in northern Vietnam, electricity consumption has set "historic peaks".

It is likely that Vietnam will have to reduce renewable energy sources in the next five years, as booming development in recent years was weighing on the power system, according to a recent report by the Institute of Energy.

The Electricity of Vietnam’s (EVN) latest report showed that the Covid-19 pandemic has led to a decrease in electricity demand. The real electricity output in 2020 was 247 billion kwh and the additional charge growth rate was 3 percent.

Foreign investors from China, Thailand, and Singapore are increasingly acquiring renewable energy projects located at strategic positions from domestic enterprises.

Samsung Vietnam has asked the government for a renewable energy pilot project that will enable the company to buy electricity directly from producers, instead of through the monopoly distributor Vietnam Electricity.

The latest draft of the country’s power development plan puts focus on renewable energy development – however, the Mekong Delta should see more attention in the development of renewables to protect its assets in the long run.

Investors of renewable energy development projects will be chosen through competitive tenders and they will set the minimum selling price of the output of their projects.

In Huong Hoa, called the "wind-power metropolis" of Vietnam, one sao (1 sao = 360 square meters) of hilly land is priced at VND4 billion.