Vietnam: An Up-and-Coming Clean Energy Leader?

Published onMarch 7, 2018

Vietnam has a significant challenge ahead: power its remarkable economic growth with less polluting and more affordable clean energy. This is no small task. According to the Vietnam Business Forum, the country’s current energy plan would increase coal use from 14 gigawatts (GW) to 55GW by 2030 and require 10 million tons of coal to be imported every year from 2017 onward. Yet the government is increasingly invested in changing this trajectory, recently committing to reduce its emissions up to 25 percent from business-as-usual levels by 2030, in part by generating 18,000 megawatts (MW) of power from wind and solar. The private sector, too, is increasingly willing to support the country’s clean energy and greenhouse gas commitments…

…because electricity consumption in the commercial and industrial sectors is expected to multiply in the coming years, now is a critical moment to support large energy users in shifting to clean energy. Innovative partnerships can help. The Renewable Energy Buyers Alliance (REBA), a coalition of more than 100 large energy buyers helping corporations purchase 60 GW of renewable energy in the United States by 2025, launched a workgroup in Vietnam in December. Co-led by WRI, Allotrope Partners and the U.S. National Renewable Energy Laboratory under the Clean Energy Investment Accelerator (CEIA), the workgroup will collaborate with large commercial and industrial energy consumers to identify ways to lower the cost of deploying and integrating renewable energy.