Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam has set a target of raising renewable energy production from 58 billion kWh in 2015 to 101 billion kWh in 2020, 186 billion kWh in 2030, and 452 billion kWh in 2050. Under the renewable energy development strategy of Vietnam towards 2030 with a vision to 2050 that was approved by the Government in 2015, the country aims to increase the ratio of electricity from renewable sources from 35 percent of total electricity output in 2015 to 38 percent in 2020 and 43 percent in 2050. According to Nguyen Van Vy, Vice Chairman of the Vietnam Energy Association, Vietnam has abundant potential for renewable energy thanks to a long coastline and weather conditions favourable for the development of hydro, wind, solar, biomass, geothermal power and bio-fuel. Research shows that Vietnam can generate about 8,000MW of small-scale hydropower, 200MW of wind power, 3,000MW of biomass power, and 35,000MW of solar power in 2030. In the … [Read more...] about Vietnam owns abundant potential for renewable energy development
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Taking advantage of the energy potential
Vietnam is an ideal candidate for wind energy development, Photo: Shutterstock Vietnam has an encouraging opportunity to move away from its reliance on foreign coal and develop its own modern renewable energy system free from pollution of its air, waterways, and agricultural land. Over the past few years, steps have been taken to implement a system primarily run on renewables. While more attractive incentives and regulations are still needed, the rich potential for clean energy is enough to remain hopeful of a gradual transition to a system fuelled by abundant renewable energy sources. Katie O’Connell, associate of ACSV Legal Vietnam Sparked by political and economic reforms under doi moi in 1986, Vietnam has experienced a steady shift from one of the world’s most impoverished nations to a low- and middle-class country. Since then, Vietnam has maintained its position as one of the fastest-growing economies in the world. At the same time, the demand for energy to … [Read more...] about Taking advantage of the energy potential
Hold ups in green energy investment
European investors remain interested in the nation’s green energy opportunities, Photo: Ngoc Ha During his recent field trip to the south-central provinces of Binh Thuan and Khanh Hoa to explore the potential for renewable energy development, Bruno Angelet, Ambassador and head of the European Union Delegation to Vietnam, told VIR that Vietnam boasts great potential to develop wind and solar power projects. “The EU is greatly interested in developing these projects and it has always been a leading provider of high technology,” he said. The Vietnamese Ministry of Industry and Trade (MoIT) is said to have given the green light to implement a floating solar power plant in the area of the Se San hydropower plant located in the Central Highlands region, with financial backing from the EU and France. Duchateau Koen, head of Co-operation under the European Union Delegation to Vietnam, also told VIR that some European investors are becoming interested in implementing … [Read more...] about Hold ups in green energy investment
An Giang offers incentives to investors in renewable energy plants
An Giang Province is offering incentives to investors in renewable energy plants that use the sun and waste such as rice husks to generate energy. — VNA/VNS Photo Viet Nam News AN GIANG — The Mekong Delta province of An Giang will offer preferential policies to investors in renewable energy plants as part of its strategy on sustainable development. Investors whose projects are in production and trade, for instance, will be exempt from land lease fees for seven years and will receive other incentives, according to the province’s Department of Industry and Trade. Investors will also be exempt from fees for infrastructure projects in industrial parks for 11 years, while loans equal to nearly 70 per cent of total investment capital will be offered. Investors in economically difficult regions, such as districts Tri Tôn, Tịnh Biên and An Phú, will have a corporate tax rate of 10 per cent. Nguyễn Minh Triết, deputy head of the … [Read more...] about An Giang offers incentives to investors in renewable energy plants
SolarBK, BIC Insurance, BIDV offer households access to solar energy
It has also signed a deal with lender BIDV for providing loans to customers to buy its BigK solar energy solutions. SolarBK will subsidize the first year interest on loans for people borrowing to buy BigK solutions between September 20 and October 31 from BIDV Vung Tau-Con Dao. A BIDV spokesperson said, "This is the first time ever in Vietnam that a third party like BIC has come forward to guarantee the output and a bank has agreed to provide finance to a solar energy company." With the government adopting policies to encourage the use of solar power, this market in Vietnam is growing rapidly. But public awareness of this field is quite low resulting in many new companies doing disorganized business and providing customers with poor quality products, discrediting the solar power industry and Vietnamese enterprises in particular. According to SolarBK, Vietnamese customers tend to prefer foreign brands when trying out a new product or service due to the belief they are superior to … [Read more...] about SolarBK, BIC Insurance, BIDV offer households access to solar energy