Vietnam hastens development of strategy for renewable energy

An approved strategy and master plan for renewable energy development in Vietnam is needed for investors to implement projects exploiting potential renewable energy sources in Vietnam.

According to the Ministry of Industry and Commerce, the assessment and analysis of the balance of energy sources at present show the urgent need to exploit and promote new energy sources as well as renewable energy sources in Vietnam.

Survey results on the potential of renewable energy sources across the country show that Vietnam now has more than 1,000 sites where small hydroelectric power plants with a total capacity of about 7,000 MW can be built. Particularly, the micro hydro power with capacity under 0.1 MW is suitable for the electrification of remote areas.

At a meeting with the ministries concerned in April 2011 to address a range of new issues in the current energy balance as well as in the situation that a series of wind and solar energy projects are pending a full legal framework, Deputy Prime Minister Hoang Trung Hai instructed the Ministry of Industry and Trade to soon seek opinions from related ministries on a strategy and master plan for developing renewable energy sources to 2030, and the vision to 2050, thereafter submit them to the Government for consideration and approval.

Deputy Prime Minister confirmed this would be an important legal basis for investors to implement projects exploiting potential renewable energy sources, especially a series of wind power projects in the South Central Province, on islands and in remote areas. He also signaled the views and encouragement on increasing the promotion of renewable energy exploitation and utilization to meet the demand of national energy balance and sustainable development at present.