A field of solar power panels in An Giang (Photo: VNA)Berlin (VNA) – Vietnam will soon lead Southeast Asia in renewable energydevelopment, Germany’s Energiezukunft highlighted in its latest article, describingthe country’s energy transition as very impressive.
Vietnam is experiencing a solar boom, with 11.6 GW of power of this kind added to thenational grid last year, according to the International Renewable Energy Agency.
Only 105 MW of solar electricity was installed in the country in 2018, and thefigure rose to 5 GW in only a yearlater, and even to 16.5GW in 2020, the article said, adding this is aconsiderable increase as compared to other nations at the same time.
As demand for energy in this Southeast Asian country is forecast to shoot updramatically in the coming time, big players in the field have invested heavilyin solar energy plants. Last summer, a 45 MW plant was put into operation inthe central province of Ninh Thuan by Sharp Energy Solutions Corporation,contributing some 76 MWh per year. The firm is carrying out another five 245MW plants in the country.
The successful solar energy story in Vietnam was sparked by a special marketmechanism, which drew much interest from investors. Under the purchasing powerat fixed prices, investors would sell the renewable energy they create to thegrid at a fixed price – one that would more than cover the cost of investingin renewable energy facilities.
Vietnam could carry out more bidding mechanisms for solar projects, in whichall renewable energy projects which are not subject to the fixed pricemechanism are able to join.
The Vietnamese Government is planning to double the power capacity in the next 10 years. Accordingly, 29 percent of the nation’s electricity will come fromrenewable energy source by 2030, and 18 percent from hydropower.
Capacity of renewable energy is envisioned at 45 GW, much higher than theprevious plan of 27 GW – the level which is achievable within 2021 or next yearas the latest.
Although the energy transition is taking place rapidly, coal-generated electricityaccounted for 28 percent of the nation’s total power. However, renewable energywill take the lion's share by 2045./.
VNA
