Vietnam’s power sector remains dominated by fossil fuels, with close to 56% of current installed capacity being coal, gas, or oil-based. Hydropower represents the second-largest share of installed capacity. It amounts to over 30% of the country’s electricity mix in 2019. Though the country has tried to attract renewable energy developers since 2011, Vietnam’s renewable energy market only took off in 2018. Today, wind and solar are the principal drivers of growth in the country’s power sector. By the end of 2020, the country’s solar capacity reached 16.5 GW. Additionally, the government of Vietnam is looking to install 12 GW worth of onshore and offshore wind by 2025.
This report by Energy Tracker Asia goes on a deeper dive into Vietnam’s success story in renewable energy and the opportunities that lie ahead to further accelerate this energy transition in the country.
Download the report here
