02 Dec 2021
The country’s authorities are also hoping to reach 70% of actual production via renewable sources through its commitments made during the United Nations Climate Change Conference 2021 (COP 26) last month.
The goals were set as Prime Minister Pham Minh Chinh pledged to reach net zero emissions by 2050 during the conference.
According to Electricity and Renewable Energy Authority head Hoang Tien Dung, the country will move from fossil fuels to clean and renewable energy. Under the draft 10-year Power Development Plan, the Ministry of Industry and Trade aims to increase wind and solar power capacity by 333% and 167% respectively.
In addition, the Deputy Minister of Science and Technology Tran Van Tung said there’s huge potential in Vietnam for the development of renewable energy, with approximately 217 gigawatts of onshore wind power, 160 gigawatts of offshore wind power and 434 gigawatts of solar power, according to a New Straits Times report.
He added that renewable energy will bring numerous benefits to Vietnam, such as reduced operating costs: "Vietnam needs to push investment in new and green technologies and dedicate resources to developing these with due technology transfers," Tung stated.
Head of UNDP Vietnam's Climate Change and Environment Unit, Dao Xuan Lai went on to say that more efficient energy use should be another priority for the country, as Vietnam requires as much as 1.7 times higher energy to produce power than other countries in the region.
He added that Vietnam needs to halve emissions stemming from the manufacturing sector to hit greenhouse gas neutrality in the future.