return icon

Vietnam should shift to clean energy, market mechanism: forum

Vietnam needs to speed up its transition to clean, secure and market-based energy by switching to advanced technologies, improving the energy sector’s performance and encouraging private investment, a conference heard in HCM City.

Da Mi Floating Solar PV. Project in Binh Thuan Province. — VNA/VNS Photo Ngoc Ha

Speaking at the 2020 Vietnam Clean Energy Forum this week, Nguyen Thai Son, head of the scientific council of the Vietnam Energy magazine, said power demand was growing rapidly and the country would need to shift to “cleaner energy sources” to maintain economic growth and protect the environment.

A number of clean energy projects had been included in the national power development plan for until 2030, including 187 wind power plants with a total capacity of 11,419MW and 135 solar farms with a capacity of 13,617MW, he said. 

Another 320 solar power plants with a capacity of 34,000MW and 300 wind plants with a capacity of 74,000MW were under consideration by investors, he said.

However, investors faced challenges like lack of technical standards, policies and administrative procedures related to clean energy projects.

He said the Government should encourage private investment to create energy markets and a transparent environment.

“To attract the private sector, it is vital to ensure equal treatment.”

The Government needed to promulgate policies and mechanisms to promote clean energy development and liberalise the renewable energy market to attract non-public investment, he said.

He said it was also important to have an appropriate power pricing mechanism to attract foreign investment.

Nguyen Anh Tuan, director of the Electricity Regulatory Authority of Vietnam, said the country aimed to become an attractive destination for investment in low-emission energy.

Earlier this year the Government issued a major resolution related to the National Energy Development Strategy for until 2030, paving the way for private investment in power, he said.

As of August, nearly 23,000MW of solar and wind power and about 16,000MW of LNG-fired capacity had been included in the national power plan, he added.

Solar and wind power have seen significant growth in recent years. There are now solar farms with a capacity of more than 5,000MW and wind power plants with 1,000MW capacity. It is expected that 3,000-5,000MW of wind power plants will be added in the next one or two years.

According to the Electricity of Vietnam HCM City, it is working with the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH to create technical standards for rooftop solar power and submit it to the Ministries of Industry and Trade and Science and Technology for approval. 


Tuan said power energy had not been synchronised with the growth of renewable energy, and there were not enough backup sources and storage systems to integrate renewable energy on a large scale.

Regulations governing investment in clean energy remained inconsistent and unclear, causing delays in the investment process, he said.

Land compensation payment and acquisition for clean power projects were tardy, also a big hurdle to project implementation, he noted.

There had been no special policy to attract investment in renewable energy through bidding.

A representative of Truong Thanh Group Joint Stock Company called on the Government to issue guidance on technical regulations for offshore wind power projects.

The forum also announced the list of top 10 leading companies in clean energy. 

According to the Ministry of Industry and Trade, Vietnam is set to face a shortage of 6.6 billion kWh next year, 11.8 billion kWh in 2022 and 13 billion kWh in 2023. 

It requires an investment of US$130 billion in new power projects by 2030 to make up these shortages.

Power demand is forecast to grow by 8.5 per cent a year for the next five years and 7 per cent between 2026 and 2030. 

Experts have said Vietnam has the potential to develop 8,000MW of hydroelectricity from small plants, 20,000MW of wind energy, 3,000MW of electricity from biomass, and 35,000MW of solar power in the next 10 years.  VNS


Renewable energy to become a trend

Renewable energy to become a trend

According to experts, the dominant energy technology in the future will be energy storage devices, solar panels, clean hydrogen and wind energy.

Renewable energy - human progress

Renewable energy - human progress

The world cannot develop sustainably if people continue to put rivers and forests in harm’s way to develop hydropower plants. Fossil fuel resources are becoming exhausted as they are being overexploited to serve thermal power plants.


Ngoc Linh ginseng helps Central Highlands locals out of poverty

Growers in the Central Highlands provinces dreamed of escaping poverty when they planted Ngoc Linh ginseng which has made an economic contribution to improving local farmers’ living conditions.

Soc Trang’s Khmer pagoda features giant Buddha statue

With the long-standing bonds of the Kinh, Khmer, and Hoa ethnic groups, Soc Trang boasts a special cultural identity that makes it an outstanding spiritual destination for tourists and Buddhist followers from far and wide.

Smart-homes getting cheaper in Vietnam

In Vietnam, a smart-home installation package costs VND14-25 million.

Vietnamese nationals account largest proportion of Japan’s foreign worker population

Vietnamese nationals account for 25.4% of the total 1.82 million foreign workers who were working in Japan as of the end of October last year, according to the Japanese Ministry of Health, Labour and Welfare (MHLW).

Mekong Delta develops more OCOP products

The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme.

Major Vietnamese paintings worth millions of dollars at global auctions

2022 represented a successful year for the Vietnamese painting market as three more pieces were auctioned at more than US$1 million each, bringing the total number of valuable paintings to 19. Let’s take a closer look at some of them.

Vietnamese American singer brings Tet Holiday joy to disadvantaged children

In hope to bring the children who lost their parents because of Covid-19 a warm spring holiday, Vietnamese American singer Ha Phuong spent a day to enjoy Tet with them.

How will the economy fare in 2023?

Vietnam’s economy had a prosperous year in 2022 with GDP growth rate of 8.02 percent, a one-decade high.

Female Vietnamese badminton star Thuy Linh placed 50th in world rankings

Vietnamese badminton star Nguyen Thuy Linh has risen to 50th position in the world’s latest singles women rankings, according to the Badminton World Federation (BWF).

Phin Ho ‘shan tuyet’ tea –specialty of Ha Giang

Apart from stilt houses and seemingly endless terraced paddy fields, “shan tuyet” tea, a famous specialty of Phin Ho village, is one of the special things visitors cannot forget once setting foot in Tay Con Linh Mountain in Ha Giang.

Discovering art of making vegetarian dishes in Tay Ninh

Religions and beliefs have made considerable contributions to the culinary culture of Tay Ninh.

Hoi An, HCM City among world's top 25 trending destinations in 2023: TripAdvisor

Germany’s famous travel site has run an article highlighting the world’s top 25 trending destinations for 2023, including Vietnam’s Hoi An ancient city and Ho Chi Minh City, recently voted by readers of TripAdvisor.

Make-in-Vietnam sleeping machine developed by professor

FRENZ Brainband helps users have faster, tighter and deeper sleep. It can also be used for relaxing and enhancing concentration when working.

Paris Agreement: Lessons on independence, self-reliance, int’l solidarity

The signing of the Paris Agreement on ending the war and restoring peace in Vietnam on January 27, 1973, was a resounding victory of Vietnam’s revolutionary diplomacy in the Ho Chi Minh era.

PM: Lunar New Year comes with new energy

Prime Minister Pham Minh Chinh chaired a meeting of permanent Cabinet members in Hanoi on January 27, speaking of new energy of the nation following Tet (Lunar New Year), the biggest festival in Vietnam.