Vietnam's renewable energy grows fastest in Southeast Asia
The Politburo’s Resolution No.55 has set out Vietnam's strategic orientations for national energy development though 2030 with a vision to 2045, contributing to creating a breakthrough for the national energy sector.
Renewable energy is expected to become the largest source of electricity of the world by 2025, replacing fossil energy. Vietnam has made impressive achievements in renewable energy development, surpassing other Southeast Asian nations. To date, Vietnam’s output reached over 17,000 MW. The Sao Mai - An Giang Solar Power Plant with a total capacity of 210MWp, for instance, contributes nearly 400 million kWh per year to the national grid. (Source: VNA)
Installing solar power panels for households in Quy Nhon city, Binh Dinh province. (Source: VNA)
A battery system of a solar power plant on the Da Mi hydropower lake with a capacity of 47.5 MWp. (Source: VNA)
To date, Ninh Thuan province has granted investment decisions to 37 solar power and 15 wind power projects with a total capacity of over 3,342 MW. (Source: VNA)
Trung Nam Group successfully runs a transformer station and a 220/500kV transmission line along with Trung Nam Thuan Nam solar power plant to serve the development of a power transmission system of Ninh Thuan province and the vicinity, Sept. 29, 2020. (Source: VNA)
Phuoc Thai No.1 Solar Power Plant in the central province of Binh Dinh is put into operation. (Source: VNA)
With highly favourable natural conditions, the south-central coastal province of Ninh Thuan is preparing a plan to become a renewable energy centre in Vietnam and to develop the sector into a pillar of the local economy.
Vietnam’s rapid economic growth is the primary mover for its renewable energy boom, according to an article titled “What’s Driving Vietnam’s Renewable Energy Boom?” posted in The Diplomat on January 12.
Vietnam ranks third in Asia-Pacific in transforming into renewable energy, with the country’s renewable additions index (RAI) reaching 46, which means renewable energy accounts for 46% of the total capacity of energy projects under construction.
Investors from the UK were showing significant interest in investing in renewable energy projects in Vietnam, especially wind power, expecting the Vietnamese Government to introduce long-term support policies as well as simplification of procedures for project implementation.