Vietnam, World Bank to work on long-term partnership strategy
Vietnam seeks the World Bank’s support in the fields of renewable energy and electrification in remote areas.
Vietnam seeks the World Bank’s support in the fields of renewable energy and electrification in remote areas.
Vietnam has become one of the most vibrant and attractive renewable energy markets in Southeast Asia.
German and EU investors are very interested in the renewable energy market in Vietnam, especially in the South which has great potential in wind and biomass power.
The 3.5GW La Gan project is one of the first large-scale offshore wind power projects in Vietnam.
The pandemic reinforces the need for reliable energy services to support healthcare. Clean, renewable power is a good place to start.
Vietnam contains one of the highest potential for wind power in the region, as it is endowed with high wind speeds particularly in the offshore or near-shore areas.
The government intends to draft a new power development plan by June 2020, which Fitch believed will focus more directly on the development of non-hydropower renewables.
The increase in biomass power prices is a big move to boost capacity of this energy source to 3,000 MW by 2030.
Legal or regulatory obstacles with a low level of certainty and issues concerning grid access for private projects, are the most pressing to private investment.
Clear polices would greatly help provide a vision with specific targets of renewable energy for both authorities and investors in the road map ahead.