A wind power project in the south-central coast province of Binh Thuan. Experts stress Vietnam should quickly develop renewable energy 

Vietnam’s demand for electricity is seen picking up strongly, 265 billion kWh by 2020 and 570 billion kWh by 2030 compared to the current 170 billion kWh, according to a recent conference on the development of renewable energy.

The country’s power supply is heavily dependent on hydropower, coal-fired thermal power and gas which are gradually becoming exhausted in the coming years.

Industry experts said Vietnam should make use of potential power sources like renewable energy, and purchase more electricity from neighboring China, Laos and Cambodia in a bid to offset a possible shortfall of 100 billion kWh by 2020.

The development of wind, solar, and biomass power should be paid special attention to, as the growth of renewable energy has become a sustainable trend in which many countries are pursuing.

The Government is striving to reach 12 billion kWh of renewable energy by 2020. The figure is expected to amount to 89 billion kWh by 2030.

Meanwhile, despite increasing investments, wind, solar and biomass power sources are currently having modest capacities of around 100 MW, 15 MW and 10 MW respectively, well below potentials.

Tran Viet Ngai, chairman of the Vietnam Energy Association, told the Daily on August 1 that the country’s topographic and climatic characteristics are favorable for wind, solar and biomass power development.

Ngai suggested several solutions to prop up investments in renewable energy. In particular, local governments should create favorable conditions for investors to have sufficient land to develop such power generation facilities.

Besides, electricity prices should be adjusted in a reasonable manner. For instance, prices of wind and biomass power should be raised to some 9 cents per kWh to ensure that investors can recoup their investment capital.

Especially, these investors should be subject to tax exemptions in order to prop up their investments. Large companies active in electricity, oil, gas, coal and mineral sectors should also be assigned particular targets for developing these clean energy sources.

SGT