Vietnam renewable energy week to open on August 21

• New approach to energy strategy urged
• Thai and Spanish investors to enliven renewable energy sector
• Vietnam, US launch first energy security dialogue

Initiated by the Vietnam Sustainable Energy Alliance (VSEA) in 2016, the annual event becomes a forum for policy makers, scholars, investors and the public to share their concerns and ideas and propose measures to sustainably promote the roadmap of energy transfer in Vietnam.

It is hoped to encourage Vietnamese people to become part of the energy transfer process who also directly benefit from the process. 

According to VSEA, if the model is expanded, it will help to remarkably reduce the demand for electricity from the national grid, especially in the southern region. 

This could be an effective solution to replace the construction of expensive thermal power projects, which potentially damage the environment in the Mekong Delta region, it said. 

The Vietnam Renewable Energy Week 2018 will launch the initiative “Millions of green houses for a prosperous Vietnam”. 

During the event, relevant parties will focus on measures to remove difficulties and obstacles in developing renewable energy, thus creating breakthroughs to bring benefit to Vietnam. 

It also aims to raise public awareness of the feasibility and benefits of renewable energy, calling for their actions to promote the process. 

Based on the contents of discussion at the event, policy recommendations will be proposed and submitted to the State management agencies and related sides. 

Renewable energy is playing an important role in rural development in Vietnam, contributing to creating more incomes for farmers and modernising agricultural production. 

Apart from bringing economic benefits to rural areas, renewable energy is also a domestic energy source that can help Vietnam become more proactive in its energy supply and reduce its dependence on fluctuations in the global oil, coal and gas prices. 

In 2015, the Prime Minister approved a renewable energy development strategy by 2030 with a vision to 2050, which targeted an increase in the ratio of power generated from renewable energy to 32% by 2030 and 43% by 2050.

The national project for power development in 2011-2020 also identified developing renewable energy as a breakthrough to ensure the security of the nation’s energy supplies, and reduce the negative impact of generating power on the environment.

There were some 50 wind power, and more than 100 solar power projects, along with a number of biomass projects being developed in the country.