Vietnam raises wind and solar energy targets

Vietnam has significantly raised its wind and solar power targets to boost energy production by 2030 to meet strong demand, according to a revised version of its energy plan published on the government's information portal.

The country has committed to achieving carbon neutrality by 2050, and the latest edition of its Energy Development Plan 8 (PDP8) outlines how to achieve these goals. Heavily dependent on coal to meet its rapidly expanding needs, it now aims to "significantly expand renewable energy," according to the plan published Wednesday.

With targets set at 73 gigawatts (GW) for solar and 38 GW for onshore wind by 2030 – and a significant increase to 296 GW and 230 GW by 2050 – the plan looks "really ambitious," said Andri Prasetiyo, a researcher at the Senik Centre Asia.

The 2023 version of PDP8 targeted 12,8 GW for solar and 21 GW for wind by the end of the decade.

"I think this sends a clear message: Vietnam is positioning itself to maintain its leadership in the energy transition in Southeast Asia" and even "to play a greater role in the region," he told AFP.

Solar energy experienced rapid growth in Vietnam until 2020, but its success was hampered by limited infrastructure. Andri Prasetiyo said Vietnam's new goals are "increasingly achievable," even though they far exceed market projections of the country's capacity.

The latest version of the PDP8 energy development plan also reaffirms the country's commitment to ending the use of coal by 2050. Coal will account for nearly 17% of its energy mix by the end of the decade, compared to 20% in 2023.

Solar power will account for 31% of the country's energy by 2030, while onshore wind power will account for 16%. More than $136 billion will be needed for Vietnam to achieve this goal, according to the document.

As part of the new plan, the country also aims to open its first nuclear power plant by 2035 at the latest.

The agreement follows the signing of an agreement by Vietnam and Russia in January, when the Vietnamese government said Russian nuclear giant Rosatom was "very interested" in cooperating on a project in Ninh Thuan province.

Authorities have revived plans to build the country's first two nuclear power plants in this central province, initially approved in 2009 with the help of Rosatom and the Japanese consortium Jined, but then suspended in 2016 for environmental and financial reasons.

Illustrative image of the article via Depositphotos.com.