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Vietnam Must Invest in Renewable Resources to Solve Energy Crisis: Experts

In order to keep up with its growing energy demand, Vietnam must invest more heavily in renewable energy sources, experts say. 

At a Hanoi conference last week, experts convened to discuss the future of Vietnam's energy industry, as it struggles to keep apace with an expected 7-10% increase in power demand each year from now until 2030, reports Thanh Nien.

Recently, Vietnam has made big moves toward diversifying its power sources – including the construction of its first-ever solar power plant – as part of an initiative to achieve an installed power capacity of 75,000 megawatts by 2020. This is just one among a growing number of efforts to clean up the country's pollution output.

Last month, government officials announced their goal to reduce greenhouse gas emissions by eight percent a year by 2030, cutting out as many as 787.4 million tons of carbon dioxide.

However, even if Vietnam fully taps into its renewable energy sources, the supply still may not be enough to meet demand. In the last 25 years, the country's energy infrastructure has developed at a breakneck pace, providing 98% of the Vietnamese population with electricity compared to just 54% in 1990.

“To ensure the financial sustainability of the power sector, Vietnam needs to promote effective competition and ensure large public and private sector investment,” said Senior Director of the World Bank's Energy and Extractives Department Anita Marangoly George at the conference.

[Photo via Wikicommons]

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