Vietnam is set to follow Indonesia and South Africa with a climate financing package of at least $11 billion to shift its economy away from coal and boost the rollout of renewable energy sources.
Despite Vietnam’s solar boom and ambitious climate targets, the fast-growing economy is struggling to quit dirty energy — leaving one of the world’s biggest coal power programmes largely intact.
The confluence of climate change, civil society and coal-fired plants places Vietnam’s power system at an inflection point.
Vietnam is seeking to import more coal from Australia to ease a shortage of the fossil fuel for electricity production, the Ministry of Industry and Trade said on Friday.
The coal industry needs to expand its production by focusing its investment in new mines and upgrading existing ones to meet the economy’s demand for coal,’ says Vietnam’s Deputy Prime Minister Le Van Thanh
Coal already accounts for about a third of the country’s operational energy mix and its capacity is set to increase by 2030 under a new draft development plan. Most of Vietnam’s operational coal capacity has been funded by firms from…
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime minister for approval this week.
The latest draft of Vietnam’s 8th Power Development Plan (PDP8) shows increased intentions to move away from coal-fired power and toward renewables and natural gas during the next decade, even as the country seeks to keep up with rapid demand growth.
Despite the associated environmental problems, Vietnam cannot do without coal-fired power plants for another 15 years at least, experts say.
Mitsubishi Corp. and megabanks explain that Vung Ang 2 will boost livelihoods