According to the IHS Renewable Energy Replenishment Index, renewable energy network growth has skyrocketed in the Asia-Pacific region.
Vietnam ranks third in the region after Australia and Japan but ranks first among emerging markets when Vietnam offers good electricity tariffs to attract investment in wind and solar power.
Vietnam is committed to achieving net zero emissions by 0 under the Paris Agreement.
Previously, the website entrepreneur.com published an article assessing Vietnam's position as a renewable energy center in Southeast Asia. According to VNA, the article cites data from the World Bank (WB) saying that Vietnam currently has the most comprehensive installed solar power capacity in Southeast Asia, with 16.500 MW produced in 2020. Vietnam Nam is also in the top 10 countries with the highest installed solar capacity globally in 2020.
According to the author of the article, with great potential for solar power and ambitious green energy goals by 2050, Vietnam has many opportunities to become a global leader in renewable energy. In addition, there is a compelling reason to establish wind energy projects in Vietnam because Vietnam has the largest wind resources in the region with a potential of 311 GW.
Also according to the article, Vietnam's climate and terrain make renewable energy, especially wind power, have significant investment prospects. Vietnam's vast wind resources are thanks to the country's long and narrow geography with more than 3.000 kilometers of coastline, including hills and mountains. According to the World Bank, more than 39% of areas in Vietnam have wind speeds greater than 6 meters per second (m/s), equivalent to a capacity of 512 GW. Vietnam has great potential, with 8,6% of land and water area suitable for large wind farms.
The author of the article commented that Vietnam has recently witnessed extraordinary solar photovoltaic growth. This is said to be the beginning of the country's energy transition away from coal. Vietnam's solar power capacity increased from 86 MW in 2018 to about 16.500 MW in 2020. Therefore, Vietnam surpassed Thailand to become the ASEAN country with the largest installed solar power capacity.
According to Vietnam Times Newspaper