A wind farm in Binh Thuan province (Photo: VNA) Hanoi (VNS/VNA) - Investors from the UK were showing significantinterest in investing in renewable energy projects in Vietnam, especially windpower, expecting the Vietnamese Government to introduce long-term supportpolicies as well as simplification of procedures for project implementation.
British Ambassador to Vietnam Gareth Ward said at the UK – Vietnam RenewableEnergy Dialogue on Wednesday that clean energy was becoming a global trend,adding that every 1 investment USD in clean energy would help generate from 3-8USD.
The Vietnamese Government in 2015 approved the renewable energy developmentstrategy to 2030 with a vision to 2050 which aimed to increase the percentageof renewable power from 35 percent in 2015 to 38 percent in 2020 and 43 percentin 2050.
The Government also introduced incentive policies to encourage the developmentof wind power, biomass energy, energy from waste and solar power.
Hoang Tien Dung, Director of the Ministry of Industry and Trade’s Electricityand Renewable Energy Authority, said developing renewable energy was importantin the context that sources for hydropower were being exhausted, thermopowerwas limited due to commitments to global climate change and gas-fired power hadhigh production costs.
According to the draft national power development planning for 2021-30 periodwith a vision to 2045, Vietnam had large potential for renewable energydevelopment which was estimated to amount up to 855GW, mostly solar power(434GW), and wind power (375GW). The potential for off-shore wind power wasestimated at 158GW.
Off-shore power was attracting increasing interest from foreign organisationsand investors, Nguyen Ninh Hai, Head of the Renewable Energy Department underthe Electricity and Renewable Energy Authority, said.
Hai said that as off-shore wind power was a new thing to Vietnam, the Ministryof Industry and Trade was cooperating with some research organisations to havea comprehensive evaluation about the off-shore wind power development potentialin the country.
Bui Vinh Thang, Director of Mainstream Renewable Power Vietnam, said that theGovernment’s planning and policies played a very important role for renewableenergy investors, especially in wind power and off-shore wind power.
Benjamin Dubas, a representative from Lightsource BP, said that renewableenergy investors expected the transparency and stability of policies in thelong term to invest in Vietnam, especially feed-in tariffs (FIT).
According to Dung, FIT pricing was applied to accelerate investment inrenewable energy in the first stage in Vietnam but this mechanism would not bemaintained for a long period and be replaced by competitive bidding when thetechnology development helped push down prices of solar and wind power.
He added that the national power development planning which was being completedwould give priority to renewable energy on the basis of ensuring balance ofpower sources and the power transmission between regions.
The ministry expected to continue receiving support from the UK in renewableenergy, especially off-shore wind power which the UK had experience in and Vietnamhad large potential.
By the end of 2020, the total renewable energy output accounted for around 25 percentof the total output worth 69,000MW of the Vietnam’s power system. There were148 solar power projects with a total capacity of more than 8,800MW, 100,000rooftop solar power projects with a total capacity of 9,300MW, and 11 windpower projects with a total capacity of 511MW./.
British Ambassador to Vietnam Gareth Ward said at the UK – Vietnam RenewableEnergy Dialogue on Wednesday that clean energy was becoming a global trend,adding that every 1 investment USD in clean energy would help generate from 3-8USD.
The Vietnamese Government in 2015 approved the renewable energy developmentstrategy to 2030 with a vision to 2050 which aimed to increase the percentageof renewable power from 35 percent in 2015 to 38 percent in 2020 and 43 percentin 2050.
The Government also introduced incentive policies to encourage the developmentof wind power, biomass energy, energy from waste and solar power.
Hoang Tien Dung, Director of the Ministry of Industry and Trade’s Electricityand Renewable Energy Authority, said developing renewable energy was importantin the context that sources for hydropower were being exhausted, thermopowerwas limited due to commitments to global climate change and gas-fired power hadhigh production costs.
According to the draft national power development planning for 2021-30 periodwith a vision to 2045, Vietnam had large potential for renewable energydevelopment which was estimated to amount up to 855GW, mostly solar power(434GW), and wind power (375GW). The potential for off-shore wind power wasestimated at 158GW.
Off-shore power was attracting increasing interest from foreign organisationsand investors, Nguyen Ninh Hai, Head of the Renewable Energy Department underthe Electricity and Renewable Energy Authority, said.
Hai said that as off-shore wind power was a new thing to Vietnam, the Ministryof Industry and Trade was cooperating with some research organisations to havea comprehensive evaluation about the off-shore wind power development potentialin the country.
Bui Vinh Thang, Director of Mainstream Renewable Power Vietnam, said that theGovernment’s planning and policies played a very important role for renewableenergy investors, especially in wind power and off-shore wind power.
Benjamin Dubas, a representative from Lightsource BP, said that renewableenergy investors expected the transparency and stability of policies in thelong term to invest in Vietnam, especially feed-in tariffs (FIT).
According to Dung, FIT pricing was applied to accelerate investment inrenewable energy in the first stage in Vietnam but this mechanism would not bemaintained for a long period and be replaced by competitive bidding when thetechnology development helped push down prices of solar and wind power.
He added that the national power development planning which was being completedwould give priority to renewable energy on the basis of ensuring balance ofpower sources and the power transmission between regions.
The ministry expected to continue receiving support from the UK in renewableenergy, especially off-shore wind power which the UK had experience in and Vietnamhad large potential.
By the end of 2020, the total renewable energy output accounted for around 25 percentof the total output worth 69,000MW of the Vietnam’s power system. There were148 solar power projects with a total capacity of more than 8,800MW, 100,000rooftop solar power projects with a total capacity of 9,300MW, and 11 windpower projects with a total capacity of 511MW./.
VNA
