Participants noted that to realize the goals set in developing renewable energy, it is essential for Vietnam to promptly remove legal and regulatory barriers in order to effectively attract investor into the sector.
The Green and Clean Energy towards Net Zero forum co-hosted by Vneconomy / Vietnam Economic Times and the Department of Climate Change on July 11, attracting over 200 delegates.
The process of transitioning from fossil fuel energy such as oil and gas to renewable energy forms like wind and solar is creating many challenges for the oil and gas industry. But the greatest challenge is attracting more FDI. The upcoming draft Law on Petroleum is expected to remove these difficulties, helping the oil and gas industry turn “risk” into “opportunity”.
Prime Minister Pham Minh Chinh received Mr. Alok Sharma, Minister and President of COP26, who is visiting Vietnam, on August 29. The Prime Minister asked that development partners support Vietnam in building and developing a renewable energy equipment manufacturing industry and in compiling a map to accurately assess the potential of solar and wind power in different regions.
Electricity of Vietnam (EVN) has reported that electricity output in the entire system reached 158 billion kWh in the first seven months of this year, of which coal-fired power and hydroelectricity still played the leading roles, with output of 63.94 billion kWh and 52.58 billion kWh, respectively, or 40.5 per cent and 33.3 per cent of the total. Renewable energy output stood at 22 billion kWh, accounting for 14 per cent.
After five years of implementation, the Smart Grid for Renewable Energy and Energy Efficiency (SGREEE) project will finish at the end of June. Funded by the German Federal Ministry of Economic Cooperation and Development (BMZ), the project has succeeded in three main areas - completing the legal and policy framework, capacity building, and technical cooperation - contributing to modernizing and automating the national electricity transmission and distribution network.