Vietnam will likely have to increase coal power to ensure stable and affordable power supply. Vietnam has pursued a renewable strategy for the sustainable economic growth but gridlock has slowed the power master planning and affected the market landscape. There remains multiple hindrances in Vietnam’s renewable energy sector. The economic impact of Covid-19 and the limitations of Vietnam’s national grid will hinder the country’s attempts to turn away from coal and embrace renewable energy, David Whitehouse told Petroleum Economist. Vietnam needs to meet electricity demand growth of about 8% per year, with power consumption forecast to rise from 265-278 terawatt-hours (TWh) in 2020 to 572-632 TWh in 2030. A draft power development plan showed that the country will move forward with 15 coal-fired power projects with a combined capacity of 18GW by 2026. Vietnam will cancel or postpone until after 2030 nearly half of its previously planned increases in coal power capacity. In terms of natural resources, the country is well endowed for solar and wind generation, with extensive coastlines, slopes and rivers combined with high annual rainfall. Its wind power potential exceeds that of Thailand. As of June, 12 gigawatts (GW) of wind power projects proposed by private investors had… Read full this story
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