HCM City (VNA) – Many solar power plants have becomeoperational in the southern region in the first half of 2019, showing part ofthe solar power development wave to meet the economic growth demand in Vietnam.

In mid-June, TTC Group of Vietnam and Gulf Groupof Thailand opened two solar power plants in Thanh Thanh Cong Industrial Parkin An Hoa commune of Trang Bang district, the southern province of Tay Ninh.

Gulf Group said the two firms have cooperatedwith experienced contractors in the field of renewable energy in Vietnam sincethis is one of the fastest growing economies in Asia. Particularly, manyforecasts said energy demand in the country will increase strongly in the timeahead.

Also in June, a joint venture of the Vietnamesegroup Bamboo Capital and Vietnam-Oman Investment, a joint venture between theState General Reserve Fund of Oman and the State Capital Investment Corporationof Vietnam, inaugurated a solar power plant in Thanh An commune of Thanh Hoadistrict, southern Long An province.

With 123,000 solar panels, this factory isexpected to generate 57 million kWh per year, equivalent to the annualconsumption of 22,000 households in Vietnam. It is hoped to help reduce about16,000 tonnes of CO2 emitted every year.

Some reports indicated that to maintain thecurrent economic expansion in Vietnam, every percent in GDP growth needs agrowth rate of 2.2 percent in electricity output. Additionally, to ensureenergy security, investing in renewable energy is considered an urgent solutionto all countries, including Vietnam. It will also help with the switch to agreen economy and the diversification of energy sources.

To catch up with Vietnam’s economic growth, theelectricity sector needs to grow by 10 percent annually to produce 500 billionkWh by 2030.

According to the national electricitydevelopment plan, the capacity of power generation facilities installed willhave to reach 130,000 MW by 2030, compared to 47,000 MW at present. 

Therefore, new facilities with a combinedcapacity of 83,000 MW will need to be built and put into operation from now to2030. More power transmission and distribution infrastructure is also needed.

Vice Chairwoman of TTC Group Huynh Bich Ngoc saidher business has inaugurated seven solar power factories nationwide so far, andit is also planning another plant with a capacity of 30MW in the southernprovince of Ben Tre.

Deputy Minister of Industry and Trade Hoang QuocVuong said the country’s renewable energy development strategy until 2030, witha vision to 2050, was approved in 2015. The Government has also issued manyincentives for renewable energy projects, especially solar and wind power ones.

Subsequently, ministries, sectors and localitieshave been implementing many policies to attract investment to renewable energy.By the end of 2018, solar power projects with a combined capacity of about10,000 MW had been registered, he noted.-VNA