Vietnam will prioritise the development of renewables as the country’s government announces its ambition to invest around US$130 billion in new power plants and transmission networks over the next ten years
Future projections of electric mobility are promising, but uptake in the region will depend heavily on the strategic decisions and actions of its key stakeholders—industry, government, and consumers.
COVID-19 has exposed the fragility and inequities of the old economy. On June 5, the Philippines’ Congress Committee on Climate Change approved House Resolution 761 calling for a climate emergency response, which includes not permitting any new coal plants. Such a measure would support of the Department of Energy’s earlier caution against an overreliance on inflexible technologies such as coal that cause grid instability.
For nearly a decade now, Vietnam has made “payment for forest ecosystem services” its key strategy for protecting forests and improving the lives of poor rural communities. Now, it plans to use the same model to help rein in greenhouse gas emissions.
Indonesia should enact clean energy auctions, not feed-in tariffs (FiTs), to meet its renewable energy goals, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
Vietnam is rising as Southeast Asia’s new wind hero, with power capacity soon to dwarf that of all other Asean nations and the world’s biggest offshore wind farm to be built off its windy coast, but challenges remain.
Vietnam’s government has boasted of a number of grid upgrades have been completed by monopoly utility EVN ahead of schedule, but the transmission network still has a long way to go to catch up with renewable energy additions.
Energy demand is booming, but government policies signal continued reliance on oil, gas and coal. Much stronger action is needed to improve renewables deployment and energy efficiency, said IEA in a new report.