In recent years, the vision of a sustainable and developing future has become increasingly important in the energy system transition. Traditional energy sources have negative impacts on the environment. To fulfill commitments to ensure energy security and the national energy vision, Vietnam has started to set goals for green energy development and reduce greenhouse gas emissions.
The target of achieving net-zero emissions by 2050, as pledged at COP26, demonstrates Vietnam’s focus and determination in building a sustainable development journey, with the main objective of providing a clean and safe environment for future generations.
However, the transition to clean energy is not without its challenges. Building a clean energy supply system requires significant investment. Additionally, technologies for producing and storing renewable energy are still limited, making it difficult to ensure a stable energy supply.
Specifically, the figures provided by the Energy Association show that the investment demand for the electricity industry in the 2021-2030 period is about $134.7 billion ($13.4 billion/year), but the investment realized over the past three years was only about $30 billion ($8.5 billion/year). In the remaining 6.5 years, an investment of $105 billion ($16.1 billion/year) is needed, which is a significant challenge.
The infrastructure of the electricity system has not been able to accommodate the high integration of variable renewable energy sources (solar and wind power); operation difficulties arise due to a lack of flexible sources and energy storage systems. There is also a lack of legal regulations for the development of offshore wind power. Obstacles arise when negotiating power purchase agreements for LNG power projects. The electricity market is slow to implement, and electricity prices are not flexible according to input factors…
Meanwhile, green technology and fuel for industry and transportation, such as hydrogen fuel technology, are still in the experimental stage and not yet marketized; carbon capture and storage technology faces many challenges and high costs…
In addition, the legal basis for deploying baseload power sources and renewable energy sources is not yet complete. The decree on the mechanism for direct power purchase and sale (DPPA); the mechanism to encourage rooftop solar power with the target that by 2030, 50% of office buildings and 50% of households will use rooftop solar power for self-consumption… has not been issued. Regulations on mobilizing flexible power sources, the price framework for buying and selling electricity with energy storage systems (BESS) and pumped storage hydropower… are also lacking.
The “Green and Clean Energy Forum towards NetZero” aims to bring together relevant stakeholders to update, share, and discuss trends, experiences, and the pace of energy transition and the development of green and clean energy sources in other countries. This will serve as a reference for Vietnam’s journey towards green and clean energy sources and contribute to realizing Vietnam’s development goals and net-zero emission commitments.
The forum is structured into two sessions.
The first session will feature presentations analyzing the implementation of Resolution 55 of the Politburo on the orientation of the National Energy Development Strategy by 2030, with a vision to 2045; synthesizing and analyzing Vietnam’s energy transition process from policies to practice; and the plan to implement JETP to promote Vietnam’s energy transition process.
The second session will include discussions with experts, government agencies, and businesses to analyze the challenges in ensuring energy security and transitioning to clean energy. Simultaneously, it will delve into the opportunities and challenges faced in developing Vietnam’s new energy sources in the coming time.
The forum will also discuss trends in the use of LNG energy worldwide and the status of Vietnam; the reality of implementing investment attraction policies in the field of clean energy in Vietnam; the potential and challenges in developing renewable energy sources; and propose appropriate solutions for the development of the energy industry in the coming period.
Notably, experts and organizations from abroad will share experiences from more advanced countries and provide recommendations for Vietnam’s effective energy transition.
The forum will be attended by:
1. Mr. Nguyen Duc Hien, Deputy Head of the Central Economic Commission;
2. Mr. Ta Dinh Thi, Vice Chairman of the National Assembly’s Committee on Science, Technology, and Environment;
3. Mr. Pham Van Tan, Deputy Director of the Climate Change Department, Ministry of Natural Resources and Environment;
4. Mr. Nguyen Ngoc Trung, Acting Deputy Director of the Industry Department, Central Economic Commission;
5. Mr. Nguyen Viet Dung, Director of the Communication Center for Natural Resources and Environment, Ministry of Natural Resources and Environment;
6. Mr. Nguyen Anh Tuan, Vice President of the Vietnam Energy Association;
7. Mr. John Rockhold, Chairman of the Amcham Energy Group and Head of the VBF Electricity and Energy Group;
8. Mr. Stuart Livesey, Member of the Executive Board and Co-Chairman of the Green Growth Sub-Committee, EuroCham;
9. Mr. Do Manh Toan, National Coordinator – Southeast Asia Energy Transition Partnership Program (UNOPS ETP);
10. Mr. Pham Hoang Luong, former Vice Principal of Hanoi University of Technology, Director of Vietnam – Japan International Science and Technology Institute;
11. Mr. Abhinav Goyal, Director of Project Investment and Infrastructure Advisory Services, PwC Vietnam;
12. Mr. Nguyen Van Long, General Director of Hong Ha Petro.
Additionally, the forum will include representatives from the Departments of Science and Technology of several provinces and cities, members of organizations such as AmCham, EuroCham, KoCham, and numerous representatives from FDI and Vietnamese enterprises. The event will also be covered by various news agencies, press, and television channels.
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