Power supply for production and domestic consumption in 2020 would be ensured, according to the Ministry of Industry and Trade (MoIT).

Vietnam has offered a very high price for solar power to attract investment in this energy segment, but the country now has to recalculate the pricing to ensure sustainable development for this renewable energy.

Vietnam and the Czech Republic will enhance environmental collaboration under an action plan for cooperation during 2020-2025 signed between the two Ministers of Natural Resources and Environment in Prague on December 13.

Legal or regulatory obstacles with a low level of certainty and issues concerning grid access for private projects, are the most pressing to private investment.

After months of uncertainty over the policy, the much awaited next round of purchase prices in solar power may be set through auction instead of enjoying the same feed-in tariff required elsewhere. 

While Vietnam is facing many challenges in producing electricity, renewable energy is emerging as the tipping point for advancing development that is inclusive and sustainable in the country. 

When the purchase prices of solar power are set through auction, prices are expected to fall by 30%-40% from the current levels, said experts at a seminar yesterday.

Clear polices would greatly help provide a vision with specific targets of renewable energy for both authorities and investors in the road map ahead.

The central province of Ninh Thuan has seen a boom in renewable energy projects, especially solar power, but power transmission lines in the province have failed to handle the capacity, experts have said.

The Ministry of Industry and Trade has proposed the prime minister allow for more power grid projects than earlier planned to handle the high capacity of wind and solar power projects in Ninh Thuan and Binh Thuan.

The tardiness in upgrading electricity transmission networks is expected to cause big losses to solar power plants in Ninh Thuan.

In 2030, wind and solar power will be more cost-effective than coal. 

Spain-based ACCIONA, a world leading company in sustainable infrastructure solutions and renewable energy projects for nearly 100 years, has officially entered Vietnam by celebrating the “Country Launch Event of ACCIONA Vietnam” in HCM City.

To transition to renewable energy, Viet Nam will need assistance and aid from its foreign partners, a top energy official has said.

Many households and enterprises in Vietnam have proposed continuing the solar power purchasing price at 9.35 cent per kwh, as applied before June 30.

Since 2017, Vietnam has had an attractive feed-in tariff (FiT) rate of 9.35 US cents per kilowatt hour for grid-connected solar projects.

Vietnam should intensify efforts to develop renewable energy in an effort to participate in this indispensable worldwide trend, said Nguy Thi Khanh, director of the Green Innovation and Development Center.

Cost and technology are the top concerns for shrimp farmers when investing in renewable energy, Tran Van Dau, a farmer in Ca Mau Province, said.

As a country with abundant renewable energy potential, Vietnam will have many benefits when shifting early to develop clean energy.

Vietnam is among the top energy consumption countries in the region and the world. Hence, it’s never better to cutting down energy consumption and mull over solutions for efficient use of energy.