Southeast Asia

Vietnam Plans Renewable Energy Projects to Reduce Coal Use

 

Vietnam wants to prioritise development of renewable energy sources and reduce its coal dependency, the government said.

The Southeast Asian country intends to nearly double its total installed power generation capacity to 146,000 megawatts (MW) by 2030, and restrict development of coal-fired power plants and be open to other fuel sources, including hydrogen and ammonia.

The plan takes into account Vietnam’s commitment to turning carbon neutral by 2050, made at a United Nations climate conference in Glasgow in November, a government statement said.

Vietnam, a regional manufacturing powerhouse, is the largest electricity generator in Southeast Asia, with total installed capacity of 76,620 MW at the end of 2021, according to state-run utility EVN.

Wind and solar account for 27% of total capacity. Tokyo-based Renova this month signed a memorandum of understanding with Petro Vietnam Technical Services to jointly develop an offshore wind power project.

No further details of the latest power plan draft were provided and there was no mention of whether Vietnam would resume its nuclear power plans, which were shelved in 2016 following the Fukushima incident in Japan.

EVN last month warned of imminent electricity shortages due to tight coal supplies and called on citizens to save energy.

 

  • Reuters, with additional editing by George Russell

 

 

 

READ MORE:

Vietnam Reports Rise in First-Quarter Foreign Inflows

Vietnam Arrests CEO in Market Manipulation Probe

Vietnam to Keep Public Debt at or Below 60% of GDP

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

Recent Posts

South Korea to Meet Striking Truckers as Supply Chains Suffer

The strike has seen container traffic at ports drop 19% and the country’s cement industry…

16 hours ago

Shanghai Covid Protests Break Out as Lockdowns Fury Builds

The Shanghai show of dissent comes after a deadly fire in Urumqi, the capital of China's…

17 hours ago

China Industrial Profits Slump as Economy Wilts Under Covid

Some analysts believe China's GDP could now contract this quarter and have cut their 2023…

19 hours ago

India Rocket Firm Has High Hopes Despite Low-Cost Pledge

Skyroot Aerospace says it expects to be able to launch its first satellite next year…

2 days ago

Huawei, ZTE Equipment Sales Banned by US Over Security Risks

The move is latest step in Washington's crackdown on Chinese tech giants amid fears the…

2 days ago

Covid Protests Erupt in China’s Xinjiang After Fatal Blaze

Beijing has vowed to continue with its controversial zero-Covid policy despite growing unrest and the…

2 days ago