Vietnam’s recently published draft power development plan for 2021-2030 (PDP8) has failed to acknowledge the importance of developing a more flexible system that can accommodate a changing technology mix, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).
“After a decade filled with disappointments from the fossil fuel industry, planners successfully tested the dynamism of renewable energy in Vietnam’s fast-growing market,” says report author IEEFA Director of Energy Finance Studies Asia, Melissa Brown. “Many conventional coal and gas-power projects failed to progress during the development process, only managing to meet half of the targeted capacity for 2016-2020.
“Solar power developers however over-delivered by five times, and they have done so in a fraction of the time. This evidence would surely inform the next stage of Vietnam’s power development,” Brown added.