The article cites data from the World Bank (WB) as saying that Vietnam currently has the most comprehensive installed solar power capacity in Southeast Asia, with 16,500 MW produced in 2020. Vietnam is also on the list of top 10 countries with the highest installed solar capacity globally in 2020.
According to the author of the article, with great potential for solar power and ambitious green energy goals by 2050, Vietnam has many opportunities to become a global leader in renewable energy. In addition, there are compelling reasons to establish wind energy projects in Vietnam as Vietnam has the largest wind resource in the region with a potential of 311 GW.
Market analysts say that, if it maintains its rapid expansion in renewable energy, Vietnam will move up further in the rankings, possibly surpassing countries like Australia and Italy in terms of solutions for innovative and renewable energy development.
According to the article, Vietnam's climate and topography make renewable energy, especially wind power, a significant investment prospect. Vietnam's vast wind resources are thanks to the long and narrow geographical shape of the country with more than 3,000 km of coastline, including hills and mountains. According to the World Bank, more than 39% of areas in Vietnam have wind speeds greater than 6 meters per second (m/s), equivalent to a capacity of 512 GW. Vietnam has great potential, with 8.6% of land and water suitable for large wind power farms.
Besides, Vietnam recently witnessed extraordinary growth in solar photovoltaic (PV). This is believed to be the start of the country's energy transition away from coal. Vietnam's solar power capacity increased from 86 MW in 2018 to about 16,500 MW in 2020. Therefore, Vietnam overtook Thailand to become the ASEAN country with the largest installed capacity of solar power.
The solar power system will provide about 10.6 TWh of electricity in 2020, accounting for nearly 4% of total output. Rooftop solar will account for about half of Vietnam's total solar capacity by 2030. According to the author, with a promising solar production environment, it is hard for international investors to ignore the opportunity of such a lucrative investment.
Source: Newspaper Tin Tức/TTVN