During a recent online conference with localities on finalising the PDP VIII, Deputy Prime Minister Le Van Thanh said that calculations in the plan are optimal.
By 2030, total power capacity is forecast to reach 146,000 MW.
By 2045, coal-fueled power is expected to contribute only 9.6 percent of the country’s energy sector, while the contribution of solar power is set to reach 50.7 percent.
International organisations and experts said Vietnam has great advantages thanks to its long coastline and high potential for wind power, especially offshore wind power, which could reach a similar capacity to Vietnam’s hydropower projects.
Mark Hutchinson, Chair of the Southeast Asia Task Force at the Global Wind Energy Council, said that the target of 10GW from offshore wind power is reachable. This will help Vietnam become “safer” against risks of global fuel price fluctuations.
Tran Viet Ngai, Chairman of the Vietnam Energy Association, said that in the future, offshore wind power will develop strongly thanks to its advantages over onshore and solar power.
According to Mai Duy Thien, Chairman of the Vietnam Clean Energy Association, compared to onshore wind power, offshore wind power is more prominent in quality and stability.
Meanwhile, Stuart Livesey Country Director of Copenhagen Offshore Partners (COP) in Vietnam and General Director of the La Gan offshore wind power project said that large-scale offshore wind power projects can generate a significant amount of electricity at a higher availability rate than other forms of onshore renewable energy. He underlined the necessity of upgrading transmission lines, along with specific plans as well as suitable funding for the development of the renewable energy sector.
Many banks and financial institutions have already prioritised funding of renewable energy projects, including offshore wind power plans, he noted.
Experts held that Vietnam’s commitment to net-zero emissions given at the United Nations Climate Change Conference (COP26) is ambitious but reachable if the country designs suitable legal frameworks and support policies.