Deputy PM hosts GFANZ Vice Chairwoman
Hanoi (VNA) – Deputy Prime Minister Tran Hong Ha
hosted a reception on March 27 for Mary L Schapiro, vice chairwoman of the
Glasgow Financial Alliance for Net Zero (GFANZ).
Vietnam is facing difficulties in establishing
mechanisms and policies for green transition, the Deputy PM said, noting that many investors have expressed interest in renewable energy
projects but have yet to solve technology-related challenges concerning
ensuring the balance and stability of the national power grid, producing and
using green hydrogen and ammonia, energy storage solutions and electricity
export.
Vietnam aims to address legal
obstacles in the near future while simultaneously piloting offshore wind and solar
power projects with energy storage solutions, and flexible power supply, he
said.
The Deputy PM emphasised that Vietnam has built some energy
transition projects such as enhancing capacity of hydropower plants in combination
with solar and wind power, developing biomass electricity, transitioning to green transportation, reducing methane emissions
on over 1 million hectares of rice fields and developing 5,000 MW of rooftop
solar power, but financial support is required to carry them out soon.
Vietnam hopes to receive technical assistance and expertise
in devising and perfecting institutions, transferring technology and assessing the
feasibility of energy centres and offshore wind power, the official said.
He suggested that GFANZ establish clear financial
mechanisms regarding the responsibilities of stakeholders, including Government,
financial institutions and businesses, the specificity of funding sources for the renewable energy sector, and promptly materialise them through projects.
The Deputy PM also said that the alliance should have specific commitments relating
to finance and technology transfer from G7 countries and international partners
within the Joint Energy Transition Partnership (JETP).
Schapiro, for her part, said GFANZ will allocate financial
resources for research, innovation, and technology transfer in the renewable
energy sector.
She said she expects to receive clear requests and proposals
from Vietnam's ministries and sectors regarding mechanisms for mobilising funds
in the international market for enterprises investing in smart grid
development, renewable energy, fossil energy transition, green fuel production
from solar and offshore wind power./.