Experts have noted that this is a golden opportunity for the country, which is confronted by environmental issues, to develop renewable energy, given the huge potential of wind and solar power.
In 2015, the Prime Minister approved a renewable energy development strategy by 2030 with a vision to 2050, which targeted an increase in the ratio of power generated from renewable energy to 32 per cent by 2030 and 43 per cent by 2050.
The national project for power development in 2011-20 also identified developing renewable energy as a breakthrough to ensure the security of the nation’s energy supplies, and reduce the negative impact of generating power on the environment.
This could be regarded as a launching pad to promote investment in developing renewable energy in
There were some 50 wind power, and more than 100 solar power projects, along with a number of biomass projects being developed in the country.
Hundreds of solar projects have been registered, as of July 2017, allowing them to seek investors, with a total capacity of up to 17,000 MW, according to an estimate by the Energy Programme’s officer under the US Agency for International Development.
Also, many investors recently announced very large investments in renewable energy projects in
Thiên Tan Group announced it would invest US$2 billion in building five solar power projects in
In late January, BIM Group began construction of the BIM 1 solar power project in
The group planned to develop the largest clean energy farm in
Besides Ninh Thuan, investors were also keen on developing solar power projects in other provinces, with a potential for generating solar power in Phu Yen, Binh Phuoc and Khanh Hoa.
Recently, Asia infornet INC, a member of
The Phu Yen People’s Committee said that it allowed 17 investors to carry out field surveys and study the possible development of solar power projects, with a total capacity of 1,310 MW, in the province.
Besides solar power, wind energy projects are also being developed, such as a 98 MW wind power plant by Super Wind Energy Cong Ly Soc Trang in
VNS