Vietnam Electricity (EVN) has proposed to the Prime Minister that it be assigned as the lead investor for the resumed Ninh Thuan nuclear power projects, building on its previous role.

The solar and wind power projects that incorrectly received preferential purchase prices – FIT (feed in tariff)– will have to pay money back through an offset payment scheme.

Offshore wind power and green hydrogen projects in Vietnam may soon benefit from unprecedented incentives, including fee exemptions, guaranteed electricity volumes, and flexible investment terms, as proposed in a new draft policy.

Prime Minister Pham Minh Chinh has laid stress on the need to complete the resolution of obstacles for renewable projects by February 2025 to prevent wastefulness, contributing to ensuring electricity for development.

A number of solar power projects have been completed but cannot be put into operation because of problems in administrative procedures, especially the pricing scheme.

Vietnam imported nearly 2.39 million tonnes of liquefied gas, worth over US$1.54 billion, during the opening nine months of the year, up 24.73% in volume and 33.79% in value against the same period from last year.

Having been in effect for nearly 20 years, with four previous amendments, the law still faces challenges that the current provisions have yet to fully address.

Looking at what is happening with solar and wind power today, one would think that the goal of using renewable energy as the pillar of the power system in Vietnam is too ambitious.

As Vietnam positions itself for future energy sustainability, the Ministry of Industry and Trade has been tasked with exploring nuclear power developments worldwide.

The Ministry of Industry and Trade has proposed increasing the development of solar power and exploring the feasibility of small modular nuclear reactors, including floating nuclear power plants, to address potential power shortages.

As one of the countries most severely affected by climate change, Vietnam has been making great efforts to cope with climate change and pursue sustainable green development.

In a significant development, 154 solar power projects slated for inclusion in Vietnam's Power Development Plan VIII face delays pending the outcome of a governmental investigation.

Deputy Prime Minister Tran Hong Ha on August 13 stressed the significance of consistency in the technical approach as well as economic efficacy while developing a decree on mechanisms and policies to develop rooftop solar power.

Prime Minister Pham Minh Chinh has requested ministries, sectors, agencies, and localities to shorten timelines to complete the 500kV circuit-3 power transmission line project by September 2 to celebrate the 79th anniversary of the National Day.

Vietnam aims to develop 6,000 MW of offshore wind power by 2030, and 70,000 - 91,500 MW by 2050.

With enormous potential for solar power, onshore and offshore wind power, Vietnam is well positioned to transform its energy sector from fossil fuels to renewable energy and leverage its national resources.

The government of Vietnam needs to set renewables prices at reasonable levels that can benefit investors, EVN and consumers, experts say.

The share of wind power is targeted to increase significantly, from 5 per cent in 2022 to 19 per cent by 2030 and 29 per cent by 2050.

The Ministry of Industry and Trade (MOIT) has been consistent in its view that the major goal of rooftop solar power is self-sufficiency for users, not sales for profit.