Renewable Energy Update
On 15 May 2023, the Prime Minister of Vietnam issued Decision No. 500/QD-TTg approving the National Power Development Master Plan outlining strategies and goals for the country’s energy sector for the period from 2021 to 2030, with a vision for 2050 (“PDP8”).
Vietnam has ambitious targets to significantly increase its use of renewables like solar, wind and biomass over the next few decades. The country has set bold targets under its new National Power Development Master Plan to transition towards renewable sources, aiming for 30-39% by 2030 and up to 71% by 2050.
This demonstrates Vietnam’s strong commitment to transitioning away from fossil fuels and accelerating the uptake of clean energy sources. This positions Vietnam well to become an Asian leader in renewables.
Read our Renewable Energy Update or contact our partners for any questions or querries.
Minh Duong – Managing Partner
minh@asia-counsel.com
Ross Macleod – Partner
ross@asia-counsel.com
