The Ministry of Industry and Trade has submitted the long-waited draft decree on direct purchase agreement (DPPA) to the Government for approval.

Twenty-nine renewable energy projects with a total capacity of more than 1,577 MW have been supplying energy to the national power grid.

Electricity of Vietnam (EVN) president Dang Hoang An believes that it is possible to create a direct power purchase market with no limitations in terms of buyers and sellers.

This strategic move is crucial for the nation to attain its target of net-zero emissions by 2050.

LNG-fired power is seen as a good solution to emission reductions because power plants running on LNG generate 50 percent fewer CO2 emissions than one burning coal. But production costs will be high, VND2,400-2,800/kwh.

Now implementing the eighth national power development plan in 2021-2020 (Plan 8), the government has requested the Ministry of Industry and Trade (MOIT) to urgently fulfill procedures to create policies for renewable electricity development.

After the Prime Minister released Decision 500 approving the eighth national power development plan (Plan 8), agencies and investors were expecting an overall plan, open and transparent, that guides the implementation of the plan.

VCCI has proposed that the Ministry of Industry and Trade (MOIT) amend current regulations and allow clients in the same buildings to sell or buy rooftop solar power directly to each other without transmitting electricity through the national grid.

The Government Inspectorate has forwarded dossiers about four power projects in Ninh Thuan to the Ministry of Public Security for investigation. Meanwhile, two floating solar power projects in Ba Ria – Vung Tau have been found violating the Land Law.

Without a long-term strategy and faster localisation, Vietnam's energy sector could very well fall short in the competition for renewable energy market share on home ground, said industry insiders and experts.

Vietnam remains committed and focused on enhancing the development of hydrogen energy production and hydrogen-source fuels in regions with potential and advantages in renewable energy, close to major consumer markets.

The draft of the dossier proposing the compilation of a decree on rooftop power development has been opened for public opinion.

The Electricity and Renewable Energy Authority has been tasked with drafting a report for the National Assembly, seeking guidance on removing impediments to the implementation of offshore liquefied natural gas (LNG) and wind power projects.

Households install rooftop solar power systems for their own use, but cannot sell electricity to other institutions and individuals. They can potentially provide electricity to the national grid, but they do not get paid for doing so.

Any excess energy can be supplied to the grid, but the government only purchases it at a rate of zero dong.

The world’s largest green energy group is following procedures to deploy an offshore wind power in Binh Thuan province with total investment capital of $10.5 billion. The project is expected to be completed by 2030.

The investor of Khe Sanh wind power project in Huong Hoa district of Quang Tri province is planning to team up with a foreign investor to run its wind power plant.

Praising Vietnam's commitments to go green, leaders of France, the US and the President of the EC, and international organizations at COP28 said they would help Vietnam in the energy transition process.

Deciding to totally divest from Mong Duong 2 thermal power project in Quang Ninh province, AES, the US-based energy corporation, said it wants to turn its low-emission goal into reality.

From 2023 to 2050, the share of renewable energy in the energy mix is expected to increase from 26 to 62 per cent.