To reach high-income status by 2045, Vietnam’s demand for energy is forecast to increase significantly in the next few years. As the trade-off between business efficiency and going green is diminishing, the country is accelerating towards green and sustainable economic growth.
According to the Ministry of Industry and Trade, coal-fired power will fall some 23,400 MW, and liquefied natural gas (LNG) power more than 24,300 MW while solar power will grow 33,000 MW, onshore wind power 23,000 MW and offshore wind power 28,500 MW by 2045. Therefore, it is necessary for Vietnam to develop policies that encourage investment in clean energies.
According to the National Load Dispatch Centre, wind and solar power plants in the central and southern regions may cause overloading and place limits to transmission lines while solar power plants can only operate at 60% of capacity in case of transmission line overloading. This poses a major challenge to renewable energy investors.
The draft National Power Development Plan for the period 2021-2030, with a vision to 2045, has been revised to align with Vietnam’s commitment to net-zero emissions by 2050 made at the 26th UN Climate Change Conference of the Parties (COP26).
The plan has taken into account the replacement of coal-fired power projects while LNG and renewable energy projects will be promoted to meet these goals./.
Vietnamplus
