To improve institutions and policies to promote energy transition in Vietnam

To improve institutions and policies to promote energy transition in Vietnam (Internet image)

To improve institutions and policies to promote energy transition in Vietnam

Content mentioned in Decision 1009/QD-TTg in 2023 approving the Project to implement the Political Declaration establishing a fair energy transition partnership issued by the Prime Minister.

The task of perfecting institutions and policies to promote the energy transition is as follows:

- Review relevant legal documents to propose to competent authorities to amend, supplement, abolish, or promulgate new ones, ensuring compliance with the process of implementing the JETP Declaration, and ensuring equity in energy transition, especially in economic sectors, for communities affected by potential negative impacts of the energy transition process.

- Improve the legal framework to facilitate investment in renewable energy and energy efficiency and strengthen the power grid in Vietnam.

- Develop a long-term legal framework suitable for the roadmap to achieve net zero emissions and meet the requirements of low-emission development by converting from exploiting and using fossil energy to renewable energy or low-emission energy.

- Develop a mechanism to support domestic enterprises in developing the manufacturing, production, and maintenance of renewable energy equipment.

- Integrate equitable energy transition issues in planning and implementation of planning, land use plans, and socio-economic development planning and plans at all levels.

To promote the conversion of coal power to clean energy

- Negotiate to stop investing in coal-fired power plants that are behind schedule, facing difficulties in changing shareholders and arranging capital; negotiate on closing old, inefficient coal-fired power plants.

- Develop a roadmap to reduce greenhouse gas emissions from coal-fired power plants in sync with the roadmap to develop the carbon market in Vietnam, connecting with the world carbon market.

- Proceed to stop operating coal power plants that do not meet environmental standards; consider the possibility of converting coal-fired power plants to other suitable uses, contributing to ensuring national energy security.

- Implement management and technical measures to improve the performance of traditional power plants; improve energy use efficiency in the production, transmission, and distribution of electricity; and promote the conversion of fossil energy to clean energy.

To develop an industrial and service ecosystem for renewable energy

- Implement the content of developing industrial ecosystems and renewable energy services according to the National Electricity Development Plan for the period 2021 - 2030, vision to 2050.

- Continue to promote the development of renewable energy sources (hydropower, solar power, onshore and offshore wind power, etc.) and new energy (green hydrogen, green ammonia, ocean waves, geothermal, etc.) suitable for the ability to ensure system safety at reasonable electricity costs.

- Research to build 02 inter-regional renewable energy industrial and service centers, including electricity production, transmission, and consumption; the renewable energy equipment manufacturing industry; construction, installation, and related services; and building renewable energy industrial ecosystems in areas with great potential such as the North, South Central, and South.

- Develop types of biomass electricity and electricity produced from garbage and solid waste to utilize agricultural, forestry and wood processing by-products, promote afforestation, and treat the environment.

- Develop and implement regulations on renewable energy rates for electricity distribution organizations, combined with building a renewable energy credit market. Improve the ability to manufacture, produce, repair, and maintain domestic renewable energy equipment.

- Encourage the use of electricity produced from clean energy sources; encourage the unlimited development of rooftop solar power on office buildings and residential homes in the direction of self-production and self-consumption.

More details can be found in Decision 1009/QD-TTg in 2023.

Duong Chau Thanh

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