Vietnam promotes renewable energy development

Ensuring national energy security has become a pressing issue because energy demand continues to rise and domestic sources of fossil fuels for electricity generation has become increasingly scarce, according to Pham Quang Huy, the deputy director of the Electricity Regulatory Authority of Vietnam under the Ministry of Industry and Trade.

Vietnam should pay strong attention to improving its policy frameworks and state management mechanisms to facilitate the development of renewable energy sources, Huy noted.

With the theme “Development of gas and wind power infrastructure in Vietnam”, the forum aims to exchange development opportunities and highlight solutions in these fields to solve problems and inadequacies to continue promoting gas and wind power as planned.

Ta Đinh Thi, vice chairman of the National Assembly's Committee for Science, Technology and Environment, said Vietnam is considered to have the largest offshore wind power potential in Southeast Asia and stressed the necessity to make the most of this potential.

According to the draft Power Master Plan VIII, Vietnam needs to develop from 14,900 to 22,400 MW of imported Liquefied natural gas (LNG) by 2030 and could increase to 32,400 MW by 2035 to increase the power source and balance the effective exploitation of renewable energy sources, Thi said.

The country needs infrastructure to import and store a sufficient volume of LNG for power plants to operate stably and to be able to sign long-term LNG purchase contracts.

Comments and opinions raised at the forum will be sent to the National Assembly, the Government, and related agencies with the aim to remove difficulties for investors and producers and facilitate the implementation of renewable energy projects.