Vietnam’s renewable energy boom driven by economic growth: The Diplomat

A wind and solar energy plant in central Ninh Thuan province (Photo: VNA)

Hanoi (VNA) – Vietnam’s rapid economic growth is the primary moverfor its renewable energy boom, according to an article titled “What’s DrivingVietnam’s Renewable Energy Boom?” posted in The Diplomat on January 12.

The author analysed that in 2014, the installed capacity ofnon-hydroelectric renewable energy, such as solar, wind and biomassgasification, in Vietnam stood at 109 MW, about one third of one percent of thecountry’s total installed capacity of 34,079 MW. At the time, Vietnam’selectricity mix was dominated by hydropower (46 percent), coal (29 percent) andnatural gas (22 percent).

By the end of 2019, wind and solar accounted for 5,700 MW ofinstalled capacity, about 10 percent of the total supply. That means Vietnamhas seen wind and solar go from essentially zero to 10 percent of its supply inonly five years.

The author cited the Asian Development Bank’s data as sayingthat Vietnam’s economy has grown at 6 percent or more every year since 2014,reaching 7 percent in 2018 and 2019.

This rapid growth is driving up energy consumption at anextraordinary rate, he wrote./.

VNA