Just energy transition partnership provides important solutions for Power Development Plan VIII

Deputy PM Tran Hong Ha addresses the meeting on the draft Power Development Plan VIII on May 4. (Photo: VNA)

Hanoi (VNA) – The Just EnergyTransition Partnership (JETP) provides important financial and technologicalsolutions and should also be a target for the implementation of PowerDevelopment Plan VIII, Deputy Prime Minister Tran Hong Ha has said.

The plan should be added with new points in terms of mindset and scientific -technological advances to deal with challenges related to climate change response,greenhouse gas (GHG) emission reduction, energy transition, green transition,and circular economy development.

This is an inevitable trend and alsoa chance for Vietnam to transform its economy and create an advantage for the countryin free trade, Ha told a meeting held in Hanoi on May 4 to review the draftnational power development plan for 2021 - 2030, with a vision to 2050 (PowerDevelopment Plan VIII).

He analysed the targets, measures, and conditions for Vietnam to implement the JETPwith the G7 countries and international partners, asking for the new powerdevelopment plan to be supplemented with the JETP’s content in a spirit thatVietnam will shift from fossil fuel to renewable energy when suitabletechnology, governance measures, and prices are in place.

Ha also asked the Ministry ofIndustry and Trade (MoIT) and the electricity sector to thoroughly considerissues related to just energy transition, the reduction of net GHG emissions tozero, and new-generation nuclear power technology.

The meeting in Hanoi on May 4 (Photo: VNA)

They were also requested to devisepolicies supporting major energy businesses of Vietnam to pilot cooperationwith foreign firms so as to master technology, produce transmission equipment,and form a complete renewable energy “ecosystem” in industrial parks, therebydeveloping the country into a renewable energy hub in the Asia-Pacific.

Deputy PM Ha also asked the MoIT,which is the consulting unit for the plan, to take in opinions and perfect the plan, which also needs to pay due attention to the treatmentof waste from renewable energy projects.

Power Development Plan VIII isaimed at ensuring sufficient electricity supply for domestic demand, building asmart and efficient grid system connected with regional countries, cutting GHGemissions from power generation to 204 - 205 million tonnes by 2030 and about 27- 31 million tonnes by 2050, and ensuring all households gain access to electricityby 2030.

It targets that by 2030, the totalcapacity of power plants will reach 158,244 MW, excluding exports. About 18.5%of the capacity will come from hydropower, 19% from coal-fired power, 9.4% fromgas-fired power, 14.2% from thermal power, 13.8% from onshore wind-poweredthermal power, and 13% from solar power.

By 2050, power plants are expected tohave a total capacity of 490,500 - 573,100 MW, including 6.3 - 7.3% fromhydropower, 4.5 - 6.6% from biomass thermal power, and 14.3 - 16% from offshorewind power. Meanwhile, coal will no longer be used for power generation./.

VNA