June 5, 2018 Read More →

Vietnam plans major renewable energy push

Reuters:

HANOI—Vietnam plans to more than triple the amount of electricity it produces from renewable sources and push for a 26% increase in household solar energy usage by 2030, Prime Minister Nguyen Xuan Phuc told Reuters.

Speaking ahead of Vietnam’s participation in the expanded G7 summit that will be held in Canada from June 8 to 9, Phuc also said he hopes the country can utilize its roughly 20 Mt of rare earth reserves, which he said are the world’s third-largest, in building new energy technologies.

Vietnam has been seeking to promote renewable energy development to reduce its increasing reliance on coal for electricity generation.

According to its Strategy of Renewable Energy Development, by 2030 Vietnam plans to reduce its use of coal products by 40 Mt, Phuc said.

Vietnam will consume 156.6Mt of the fuel by 2030, according to a forecast in a 2016 report on the Ministry of Industry and Trade website. By that time, coal-fired power plants will account for 53% of Vietnam’s total power generation capacity, compared with the current level of 45%, the ministry said.

Vietnam will “increase the electricity output produced from renewable sources from approximately 58 billion kWh in 2015 to 101 billion kWh by 2020, and 186 billion kWh by 2030,” Phuc said.

More: Vietnam Sets Out Green Ambitions with Bold Targets for Solar, Rare Earth

 

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