Will Vietnam build a better energy future?

Building a cheaper, cleaner, and more secure energy future for Vietnam will not happen overnight. Other markets further along in development of renewable power greatly benefited from the support of the government.

Will Vietnam face an electricity shortage?

Vietnam’s Energy Ministry predicts that the country is likely to face an electricity shortage as the development of new power plants lags behind the country’s rapidly growing energy consumption. The government allowed Vietnamese companies to have 100% foreign ownership in the energy sector.

Is there a market for renewable solar and wind power in Vietnam?

The market for renewable solar and wind power in Vietnam remains in its infancy, even though Vietnam manufactures 3.4 gigawatts annually for export to Europe and the United States.

What are the main sources of electricity in Vietnam?

Coal-fired and hydropower plants are the two largest sources of electricity in Vietnam. Other energy sources providing electricity currently account for a small share, but their growth rates are increasing rapidly in line with the needs of the economy and the need to diversify the energy sector. 5.2. Fossil Energy (1) Coal

What is the forecast for the growth of electricity generation in Vietnam?

Forecast for the growth of total production capacity and electricity generation in Vietnam in 2023–2030. [compiled by the authors]. Source Power (MW)

Does Vietnam have a clean electricity future?

Additionally, the country’s share of fossil generation declined to 57% in 2021, from about 65% in the mid-2010s. Vietnam’s transition towards a clean electricity future is very likely to deepen in the coming years, as it endeavours to reduce its dependence on fossil fuels for electricity generation.