Vietnam has a Net Zero target for 2050, but a newly released report made by Vietnam’s Electricity and Renewable Energy Authority, the Danish Energy Agency, and the Embassy of Denmark in Vietnam suggest that if this goal is to be reached, then Vietnam needs to pick up the pace.
According to the report, it would be most beneficial for Vietnam to invest massively in the expansion of solar and wind power as well as the electrification of transportation and industry. According to the report, is is critical for Vietnam to accelerate the green transition, if they want to avoid huge unnecessary costs.
“Vietnam and Denmark both have ambitious climate goals. The Vietnam Energy Outlook Report – Pathways to Net-Zero is a result of our strong collaborative efforts addressing green transition and climate change. The report shows that Vietnam has remarkable potential for renewable energy, and illustrates how a green transition can drive growth, energy security, and sustainable development for Vietnamese society,” said Kristoffer Böttzauw, director general of the Danish Energy Agency.
It is also underlined that Vietnam has great potential for solar, onshore and offshore wind power.
The report was released on 19 June 2024
Source: Vietnam Investment Review
