BUSINESS Updated at 15:34:03 01/14/2021  (Views:  119 )
Vietnam

Vietnam’s renewable energy boom driven by economic growth: The Diplomat

Vietnam’s rapid economic growth is the primary mover for its renewable energy boom, according to an article titled “What’s Driving Vietnam’s Renewable Energy Boom?” posted in The Diplomat on January 12.

A wind and solar energy plant in central Ninh Thuan province (Photo: VNA)

The author analysed that in 2014, the installed capacity of non-hydroelectric renewable energy, such as solar, wind and biomass gasification, in Vietnam stood at 109 MW, about one third of one percent of the country’s total installed capacity of 34,079 MW. At the time, Vietnam’s electricity mix was dominated by hydropower (46 percent), coal (29 percent) and natural gas (22 percent).

By the end of 2019, wind and solar accounted for 5,700 MW of installed capacity, about 10 percent of the total supply. That means Vietnam has seen wind and solar go from essentially zero to 10 percent of its supply in only five years.

The author cited the Asian Development Bank’s data as saying that Vietnam’s economy has grown at 6 percent or more every year since 2014, reaching 7 percent in 2018 and 2019.

This rapid growth is driving up energy consumption at an extraordinary rate, he wrote.

Source: VNA

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