At the launching ceremony (Photo: VNA)Hanoi (VNA) – The Made in Vietnam Energy Plan 2.0 (MVEP 2.0), abusiness case for the primary use of Vietnam’s domestic resources to stimulateinvestment in clean, secure and affordable energy generation, was officiallylaunched by the Vietnam Business Forum (VBF) on February 27.
At the launching ceremony, VBF Co-Chairwoman Virginia Foote said the plan wasrolled out in the context that development of renewable, clean and safe energyis an urgent issue as the country is suffering sheer exhaustion of fossil fuelresources.
The MVEP 2.0, based on the groundbreaking 2016edition – MVEP 1.0, was developed during a time of the fast transition towardsrenewable energy and increasing use of natural gas in electricity production inVietnam.
The report recommends Vietnam to prioritise renewable energy in national powerplanning; increase use of natural gas as the current best-fit baseload forrenewable energy; construct a regulatory and permitting environment thatattracts private sector and smaller scale off-grid investment in clean energygeneration and energy efficiency; invest in grid infrastructure to improvestability and capacity; and halt any new approvals for coal.
It also suggests the implementation of regulatory frameworks andincentives that encourage investment in renewable energies, such as rooftopsolar, battery storage, floating solar, and offshore wind projects, withsimplified approval processes, while still maintaining safe power systems.
According to John Rockhold, head of VBF Power and Energy Working Group, Vietnamholds huge potential for the development of clean power, such as solar power,win power and hydropower.
The country’s demand for power is increasing, and the system of transmissionlines should be completed as soon as possible, he said, adding as the state’sresources are limited, it is necessary to promote the private-publicpartnership model and engage the participation of the private sector in powermanagement, distribution and retail prices./.
VNA
