The project “Support to the Up-Scaling of Wind Power in Vietnam funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) was reviewed in a seminar in Hanoi on May 8.
The project, part of the Climate and Technology Initiative of Germany, is being carried out at a cost of 6.9 million EUR from 2014-2018.
According to General Director of the General Directorate of Energy under the Ministry of Industry and Trade Dang Huy Cuong, Vietnam’s electricity industry has been facing great challenges, including the shortage of energy sources for power generation.
Vietnam has actively worked to ensure the national energy security, and implemented commitments relating to reduction of greenhouse gas emission and environmental protection.
At the 21st Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCC) in 2015, Vietnam was among 150 countries that committed to cutting down on greenhouse gas emissions towards keeping the global temperature below 2 degrees Celsius compared to the pre-industrial level by 2100.
The Prime Minister approved several programmes to encourage the development of new and renewable energy sources, including the Renewable Energy Development Strategy to 2030, with a vision to 2050, which aims to increase the production of wind power to 2.5 billion kWh by 2020, around 16 billion kWh by 2030 and 53 billion kWh in 2050.
Experts said that Vietnam boasts great potential for developing wind power as it has a coastline of 3,000 km, and is in a tropical monsoon climate.
They stressed that legal and market regulations of Vietnam should be fine-tuned to make it easy for investors to expand their operation in the field.
Through the funding of the German Government, the German Society for International Cooperation (GIZ) has supported Vietnam in developing renewable energy projects since 2009, including the “Support to the Up-Scaling of Wind Power” project.
In the framework of this project, the Ministry of Industry and Trade is cooperating with GIZ to improve legal regulations as well as the capacity of public organisations such as investors, local banks, consulting firms and technical companies.-VNA