September 22, 2020 Read More →

Vietnamese plan offers opportunity to avoid fossil fuel trap

Solar Quarter:

Implementing Vietnam’s soon-to-be-launched next Power Development Plan will ultimately depend on the country’s ability to mobilize more innovative sources of offshore financing, finds a new report by think tank the Institute for Energy Economics and Financial Analysis (IEEFA).

Vietnam is poised to launch Power Development Master Plan 8 (PDP 8) for the next decade featuring a timely departure from reliance on inflexible coal-burning independent power plants and a move towards renewable energy and liquefied natural gas (LNG).

Report co-author Melissa Brown says state utility Electricity of Vietnam’s (EVN) ability to embrace renewable energy technologies and avoid lock-in will be key to the success of the new strategy.

“EVN has a unique opportunity to attract competitively priced investment in cost-effective renewables technologies and much-needed grid infrastructure,” says Brown.

[Sadhana Raju Shenvekar]

 

More: Vietnam’s New Power Development Plan Must Optimize Renewables And Avoid Fossil Fuel Lock-in

Posted in: IEEFA In the News

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