Vietnam Renewable Energy

The move would help contribute to Vietnam’s commitment to achieving net-zero greenhouse gas emissions by 2050.

A survey by the Ministry of Industry and Trade late last year showed that around 20 large enterprises wish to buy electricity directly, with a total demand of nearly 1,000 MW.

Adani expects to invest in Vietnam's thermal power plants and participate in the development of both the renewable energy industry and key thermal energy projects.

Vietnam is advised to promote the engagement of different stakeholders and ensure that they benefit equally from the transition to clean energy.

The majority of the loan will be poured into green transition, in which the World Bank is one of the biggest lenders.

The electricity will be transmitted via a new 1,000-kilometer submarine cable, with the capacity to supply 10% of Singapore's annual energy needs.

Climate response is included in the two countries’ joint statement on the Comprehensive Strategic Partnership, which would govern multisectoral cooperation in the future.

Representatives from Dutch corporations, including Van Oord, Royal Vopak, Pondera, Royal Boskalis, and De Heus, have expressed strong interest in investing in Vietnam.

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Vietnam said it will develop no new coal-fired power projects in its national power development plan by 2030.