Vietnam strives to attract more investment in solar power

 Hanoi (VNA) – Vietnamese localities are taking measures to attract more investment in renewable energy, especially solar power.

According to the Government’s targets, solar power is expected to become the main renewable energy source in the future, with installed capacity to be increased from 6-7 MW by the end of 2017 to 850 MW by 2020 (1.6 percent of the country’s power generation) and 12,000 MW by 2030 (3.3 percent of the country’s power generation).

Vietnam is among countries that enjoy the most sunlight in the world, with the Central Highlands and south central regions recording between 2,000 and 2,600 hours of sunshine every year, reported the Vietnam Clean Energy Association.

Average solar radiation is 150 kcal/sq.m, about 2,000 to 5,000 hours per year. However, the exploitation of solar power in Vietnam has not matched the great potential.

Most solar projects are small scale. For example, An Hoi photovoltaic power plant, the first solar power project connected to the Con Dao grid in southern Ba Ria-Vung Tau province since late 2014, has a capacity of only 36 kWp and electric power of over 50 MWh.

Experts suggested Vietnam take advantage of abundant sunlight by building more solar power plants. According to them, with non-renewable fuel sources running out and demand for electricity for daily use and economic development remaining high, developing clean and renewable energy is a must.

Together with the policy of renewable energy development, there should be a pricing mechanism to attract investors, they said.-VNA