Energy development needs breakthrough priority policies and mechanisms to boost growth in the energy sector in the new circumstances, according to Deputy Head of the Central Economic Commission Nguyen Duc Hien.

Addressing a workshop with the theme “Technology trends and solutions to develop the energy industry of Vietnam in the industrialization and modernization strategy by 2030 with a vision towards 2045”,  Mr. Hien said it is also important to raise the capacity of energy businesses in order to help Vietnam be proactive in energy to meet industrialization and modernization demand.

The workshop was held on the sidelines of the Industry 4.0 Summit, which opened in Hanoi on June 14.

Mr. Hien also pointed to the need to implement measures to reduce greenhouse gas emissions with cooperation and support from the international community in terms of both finance and technology transfer, in order to reach the goal of net-zero emissions by 2050, which Vietnam has committed to.

The government has recently approved the National Power Development Plan VIII for the 2021-2030 period, giving priority to the development of renewable energy.

The plan targets increasing the share of renewable energy to 30.9-39.2 per cent by 2030 and 67.5-71.5 per cent by 2050.

Offshore wind power capacity is to reach at least 6,000 MW by the end of the decade and 70,000-91,500 MW by 2050.

The development of offshore wind power will be combined with the development of other types of renewable energy such as solar power and onshore wind power.

The government estimates that the total capacity of offshore wind power for new energy production should reach about 15,000 MW by 2035 and around 240,000 MW by 2050.