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|The MoIT cautioned to balance renewable energy development with thermal capacity|
The response of the MoIT came to cities and provinces’ proposal to stop building thermal power plants, especially in the next 10 years, to prioritise the development of renewable energy.
The thermal power projects, which were approved for implementation in 2021-2035, will be developed according to plan as the investment promotion activities of these projects are going along smoothly. These projects are Nam Dinh I, Thai Binh II, Vung Ang III, Van Phong I, and Duyen Hai II, among others. After 2035, it will still be necessary to develop small-scale thermal power projects to ensure energy security and stabilise energy prices.
Besides, thermal power plants will help to meet energy demand at a reasonable expenditure.
The MoIT added that only modern technologies will be installed at these thermal power plants, meeting energy efficiency and environmental protection criteria.
While solar and wind power capacity is skyrocketing and is forecast to account for 53 per cent of the energy mix by 2045, there are great concerns about instability and dependence on weather. Furthermore, the country has recently been seeing problems arising from the massive development of renewable energy, including fluctuating selling prices and grid shortcomings.
Thus, the MoIT said it is necessary to curb the massive development of renewable energy. However, the MoIT also noted that the total capacity of renewable energy mentioned in the draft National Electricity Development Plan VIII still suits the energy target noted in Resolution No.55-NQ/TW of February 2020 on the orientation of Vietnam's National Energy Development Strategy to 2030 with vision to 2045