With the International Monetary Fund (IMF) expecting Vietnam’s economy to grow by 6.5 percent in 2019 and 2020, it is only natural that one of the region’s fastest growing countries is turning towards renewable energy to secure its energy needs…Vietnam added 4.45 GW of new solar PV capacity from June 2018 to June 2019, and Norwegian consultancy Rystad Energy calculated that the average time for construction and commissioning a solar PV project in Vietnam was “an astonishing 275 days.”
Asia Pacific’s decarbonisation bill could reach $3.5tn (€3.2tn) by 2040, according to new research by Wood Mackenzie, which totals investments in solar, wind, hydro and nuclear power, as well as green hydrogen production. Under Wood Mackenzie’s accelerated transition scenario, most of the region’s zero carbon expenditure will be in the power and transport sectors, as both accounted for over 50% of the region’s carbon emissions in 2018. This significant shift requires investment and support from all stakeholders especially China and India, stated the analyst outfit.
On 31 October 2019, energy industry leaders gathered in Singapore for the Wind Energy Conference at the Asia Clean Energy Summit (ACES). The conference, co-organised by the Global Wind Energy Council (GWEC) and the Sustainable Energy Association of Singapore (SEAS), featured dialogues on regulatory challenges, project financing and the latest technological advancements in the wind sector.
The new IEA Southeast Asia Energy Outlook 2019 (SEAO) provides a comprehensive overview of energy prospects in an increasingly influential region for global energy trends. Alongside the scenario projections and analysis, the report contains three “deep dives” – on the future of cooling, on regional electricity trade and renewables integration, and on investment – that reflect priorities for cooperation agreed between Southeast Asia energy ministers and the IEA.
GWEC signs three MOUs with Sustainable Energy Association of Singapore (SEAS), Binh Thuan Wind Energy Association (BWEA) and Thai Wind Energy Association (ThaiWEA) to accelerate the growth of wind energy in South East Asia, with a focus on Vietnam and Thailand Partnerships to strengthen the deployment of wind energy by engaging all relevant stakeholders in a key region for economic growth.
The Global Wind Energy Council (GWEC) has launched a Policy Pulse report on Vietnam, which provides qualitative analysis of the political and macroeconomic headwinds steering the wind power sector and the measures needed to unlock greater wind power potential. Vietnam has one of the fastest-growing energy consumption rates in South East Asia, with a growing population of 96.7 million people and steady economic growth.
Energy demand in ASEAN member states (AMS) has increased twice as fast as in other countries since the 2000s. AMS together are currently the sixth-largest energy consumer and will be the fourth-largest by 2030, with more than 54 percent of the energy need expected to be covered by oil imports by 2035. The current growth rate of conventional energy supply would not only lead to energy security issues but also exacerbate climate change – if renewable sources are not taken into account.
The US Agency for International Development (USAID) on Friday announced a new project promoting urban energy security in Việt Nam at an event held in Ho Chi Minh City. The event was attended by USAID Deputy Administrator Bonnie Glick, USAID/Vietnam Mission Director Michael Greene, leaders of the Ministry of Industry and Trade (MOIT)’s Electricity and Renewable Energy Authority, and HCM City’s Department of Industry and Trade.