Prime Minister Phạm Minh Chính has called for the resolution of obstacles in renewable energy projects by February 2025 to prevent waste and bolster the nation’s electricity capacity for economic development.
At a conference on December 12, announcing the implementation of the Government’s resolution on clearing bottlenecks in renewable energy projects, the Prime Minister emphasized the critical role of renewable energy in achieving Việt Nam’s ambitious economic goals. The country aims for 8% growth in 2025 and potential double-digit growth from 2026 to 2030.
Phạm Minh Chính highlighted the need for the energy sector’s growth to exceed GDP expansion by 1.5 times, translating to an annual 12% increase in energy output.
With over VND308 trillion (US$13 billion) already invested in renewable energy projects, the PM stressed the urgency of operationalizing delayed projects to avoid wastage. While addressing past implementation errors, he urged authorities to prioritize economic and regulatory solutions over criminal prosecution, which he described as a last resort for cases of severe corruption or misconduct.
The Prime Minister also advocated for transparent and accountable governance, warning against corruption and vested interests during the resolution process.
The conference outlined measures for projects that failed to meet eligibility criteria under preferential Feed-in Tariff (FIT) schemes. These projects will no longer qualify for preferential rates, and electricity purchase prices will be recalculated in line with existing regulations.
For projects overlapping with defense or mineral zones, authorities were directed to conduct cost-benefit analyses and adjust plans to align with national priorities.
As of late 2023, renewable energy sources, including wind and solar, accounted for 21,664 megawatts, or 27% of Việt Nam’s national power system. Renewable electricity generation totaled 27,317 million kilowatt-hours, representing 12.75% of the system’s output, according to the Ministry of Industry and Trade.
These achievements align with Việt Nam’s National Power Development Plan VIII and its pledge to achieve net-zero emissions by 2050.
Phạm Minh Chính urged all ministries, sectors, and local authorities to act swiftly in clearing hurdles for renewable energy projects, ensuring Việt Nam’s continued progress in energy transition and sustainable development.
