By strengthening international cooperation in energy and completing mechanisms and policies in the field, Vietnam is working to improve the efficiency, sustainability and adapting capacity for the national energy sector.
Recently, Deputy Minister of Science and Technology Tran Van Tung held a meeting with Ann Marie Yastishock, USAID Country Director in Vietnam and BT Tee, General Director of Informa Markets Vietnam to foster cooperation in energy and renewable energy in particular. Tung underlined that the ministry hopes to enhance connection and partnership with domestic and foreign firms in energy development, especially renewable energy.
USAID and Informa Markets representatives highlighted the potential of cooperation between them and Vietnam in the time to come, as Vietnam is prioritising the growth of energy sector towards sustainability to ensure national energy security and reduce greenhouse gas emissions. They showed interest in working with the ministry to build cooperation programs, focusing on prioritised targets to promote renewable energy development in Vietnam.
Vietnamese Ambassador to Germany Nguyen Minh Vu has recently had a working session with German engineering service supplier Großmann Ingenieur Consult GmbH (GICON®) and the Vietnam Petroleum Institute (VPI) on the promotion of ties in expanding renewable energy in Vietnam.
GICON® Chairman Jochen Grossmann said that with the advantage of a coastline of more than 3,200 km, annual average wind speed of more than 6 m/s and at an altitude of 65m in the East Sea, Vietnam has great potential in developing wind power. GICON® will collaborate and support Vietnam in the development of offshore wind power, he said.
VPI and GICON® will also collaborate in the R&D of the state-of-the-art technologies for producing hydrogen from sea water, and using biotechnology and water electrolysis to convert biomass to biomethane.
According to the Ministry of Industry and Trade, in the first two quarters of 2021, renewable energy accounted for about 11.4 percent of the total energy output and the ratio tends to accelerate. In terms of wind power, there are nine wind farms currently running in Vietnam with a total capacity of around 304.6 MW, making Vietnam the leading country in the ASEAN in energy transformation.
The power generation and competitive whole sale markets of Vietnam have been shaping, allowing power plants to offer competitive power prices in a transparent and equal market. Meanwhile, the power sector is being restructured to encourage the formation of a competitive power retail market and provide more choices of suppliers for consumers.
At the same time, Vietnam is also undertaking steps towards smart power grid with the use of automation technologies.