Vietnam's recently announced National Power Development Plan VIII demonstrates the country's intention to gradually eliminate coal- and gas-fired power generation, and to promote renewable energy to achieve net zero emissions by 2050, reported VOV.
The plan for 2021-2030 contains a vision to 2050, and was approved on 15 May by prime minister Pham Minh Chinh on 15 May. Only coal-fired projects outlined in the adjusted Plan VII, along with those already under construction will be continued. There will be no new coal-fired power projects after 2030.
Coal-fired plants over 40-years-old will be closed if they are unable to adapt to other fuels.
Vietnam intends to utilise biomass and ammoniac for power generation in place of coal.
Renewable energy is expected to account for some 70% of all of Vietnam's electricity generation by 2050.
Hoang Tien Dung, director of the Electricity and Renewable Energy Authority at the Ministry of Industry and Trade, said Plan VIII prioritises renewable and new energy, which is a chance to develop the energy industry. The plan promotes national industrialisation and modernisation, and reinforce an independent and self-reliant economy with intensive integration into the world, he said.
He added that it also looks to develop a competitive electricity market to diversify power investment and business methods, encourage all economic elements to engage in power development, promote research and application of the Fourth Industrial Revolution to all segments of the power sector and boost digital transformation.
Under this plan, Vietnam will work to master modern technologies so as to become able produce the majority of devices used in the sector internally.
The plan enables the country to adapt to the context that its major partners are levying carbon taxes on imports, Dung added.
The approval of Plan VIII is important, but is just an initial step, minister of Industry and Trade Nguyen Hong Dien said. In order to reach the set targets, he has ordered the Electricity and Renewable Energy Authority chair to co-ordinate with the relevant agencies to swiftly draft and submit an implementation plan that will outline responsibilities and deadlines for task performance of the parties concerned.
Vietnam prioritises biomass in National Power Development Plan VIII
