Vietnam's energy sector plans to reduce greenhouse gas emissions by 17-26 per cent by 2030 and around 90 per cent by 2050 compared to the normal development scenario.
|The renewable energy complex invested by Trung Nam Group in Thuan Bac district, Ninh Thuan province. (Photo: VNA) |
Hanoi – Vietnam's energy sector plans to reduce greenhouse gas emissions by 17-26 per cent by 2030 and around 90 per cent by 2050 compared to the normal development scenario.
The targets have been set in the freshly approved National Energy Master Plan for the 2021-2030 period with a vision to 2050.
The overall goal of the plan is to firmly ensure national energy security and defence-security; meet the requirements of socio-economic development, industrialisation, and modernisation of the country; improve people's lives; and protect the ecological environment. It also aims to successfully implement energy transition, thus meeting the net-zero gas emission target by 2050.
The scheme also sets goals for energy savings of about 8-10 per cent by 2030 and approximately 15-20 per cent by 2050 compared to the normal development scenario.
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According to recent data released by Vietnam Electricity (EVN), as of August 11, nearly 93 per cent of renewable-energy transition projects have submitted their profiles to the Power Purchase Department for price negotiations and power purchase agreement (PPA) consultations, a substantial achievement for just over three months of rigorous effort.
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Aiming to double its electricity capacity by 2030 and committed to achieving net-zero emissions by 2050, Vietnam is actively seeking a mix of domestic and international investments. Kang Seungho, special counsel at Dentons LuatViet, notes that as Vietnam embarks on this energy transformation, it faces both opportunities and challenges in embarking on a sustainable future.