Vietnamese Gov’t continues to support clean energy projects

The Vietnamese Government welcomes renewable and clean energy projects from AES Corporation and credible partners, said Prime Minister Pham Minh Chinh at a meeting with Vice President of AES Corporation (US) Juan Ignacio Rubiolo today [October 11].

Overview of the meeting. Source: VGP

At the meeting, Chinh highlighted the effectiveness of investments and business operations, as well as AES's active contribution to Vietnam over the years, especially in green and clean energy fields.

“This has driven Vietnam’s energy transition toward the goal of net zero carbon emission by 2050,” Chinh said.

According to Chinh, Vietnam needs an overall plan for electricity expansion, including the source, grid, distribution, utilization, and charging fees.

He called for development partners to support Vietnam in a fair, just, sustainable, and inclusive energy transition process, with the people as the primary beneficiary.

He added that this support should include preferential loans, improving corporate governance capacity, training human resources, supporting Vietnam's integration into the global value chain and transferring technologies for renewable energy development.

In particular, Chinh called for international support for Vietnam to boost the development of a production sector using renewable equipment.

“The Vietnamese Government, in this context, stands ready to accompany AES to ensure the success of the latter’s investment projects based on the harmonious sharing mechanisms of risks and benefits,” he continued.

This partnership, therefore, would help Vietnam realize its foreign policy independence while actively pursuing diversification and multilateralism and being a credible partner of the international community for peace, stability and prosperity in the region and the world, Chinh said.

For his part, AES Vice President Juan Ignacio Rubiolo agreed with Chinh’s vision for developing Vietnam’s energy sector, especially its approach toward an inclusive and sustainable energy transition process.

Rubiolo thanked the Government for its support for the company's ongoing projects in the country and proposed new ones, such as the 4 GW offshore wind project in the central coast province of Binh Thuan and the battery energy storage system ( BESS).

He highlighted Vietnam’s significant socio-economic development achievements, especially the high GDP growth amid a challenging global economic environment.

Rubiolo stressed that AES holds high expectations for Vietnam’s development potential in terms of investment and business opportunities, as well as the Government’s efforts in improving the business environment, including drafting regulations on the direct power purchase agreement (DPPA).

The AES representative hoped that Vietnam would be ahead of other countries in the region in the energy transition and expected the US energy corporation to be a long-term partner for Vietnam towards realising its net zero carbon emission by 2050, ultimately building an independent and prosperous Vietnam.