BY 2030, TO REACH 15-20% RENEWABLE ENERGY SOURCES IN THE TOTAL PRIMARY ENERGY SUPPLY
On February 11, 2020, the Central Executive Committee of the Political Bureau promulgates the Resolution No. 55-NQ/TW on orientation of Vietnam’s National Energy Development Strategy through 2030 with a vision toward 2045.
In accordance with this Resolution, the Central Executive Committee gives specific objectives as follows:
Firstly, to providing sufficient energy for domestic energy demand and satisfy targets of the 10-year socio-economic development strategy for 2021-2030, namely: the total primary energy supply shall reach 175 - 195 million tons of oil equivalent (TOE) by 2030 and 320 - 350 million TOE by 2045; the total installed capacity of power sources shall amount 125 - 130 GW and the power output shall reach 550 - 600 billion KWh by 2030.
Secondly, total final energy consumption shall reach 105 - 115 million TOE by 2030 and 160 - 190 million TOE in 2045. The primary energy intensity shall be expected to be 420 - 460 kgOE/ USD 1,000 (GDP) by 2030 and 375 - 410 kgOE/ USD 1,000 (GDP) by 2045. The share of renewable energy sources in the total primary energy supply shall reach 15 - 20% in 2030 and 25 - 30% in 2045.
To achieve the above goals, handling and restructuring inefficient projects and state-owned enterprises that make losses in the energy sector; researching and implementing a pilot mechanism for time-limited sales or long-term leases applicable for power plants, fuel storage, oil refineries, etc. possessed by state-owned enterprises are required.
Remarkably, the Central Executive Committee also requests as below: Eradicating obstacles to ensure transparent energy prices set by the market with no cross-subsidies among groups of clients and regions; the State shall regulate through appropriate market instruments (taxes, fees, funds, etc.) and suitable social security policies.
