Solar, wind power insufficient for Vietnam’s energy security: expert

The 46.2 MW Wind Farm No.5 invested by Trung Nam Group in Ninh Thuan province, south-central Vietnam. Photo courtesy of the company.
Electricity generation from liquefied natural gas (LNG), biomass, ammonia, and hydrogen should be thoroughly considered to help Vietnam achieve its carbon neutrality goal, an American specialist said.
Addressing an energy seminar in Hanoi on Wednesday, energy expert Sean Lawlor from the U.S. Embassy, said as a long-term partner of Vietnam, the U.S. is recommending Vietnam to take creative policy measures to attract foreign investment and step up energy transition to help implement the carbon neutrality commitments Vietnam’s Prime Minister Pham Minh Chinh made at the 26th UN Climate Change Conference in late 2021.
He added that solely relying on wind and solar power would not assure energy security, therefore, other sources like LNG, biomass, ammonia, and hydrogen should be on the priority list.
Lawlor said that Austria, Germany and other European economies have resumed operation of coal-fired power plants to counter the lack of Russia-supplied gas, but that they had to develop cleaner energy sources for long-term goals.
Coal-fired power is making up one-third of Vietnam’s total output, according to a report at the seminar. The country looks to reduce the proportion of this type of electricity to about 9.5% and raise renewables to 32% by 2045. The energy-thirsty economy is also encouraging low-carbon power sources to minimize emissions.
As of the end of 2021, Vietnam’s total wind and solar power installed was about 20,670 megawatts, accounting for 27% of the total installed capacity, according to the Ministry of Industry and Trade's department of electricity and renewable energy.
At the seminar, experts proposed several measures to support the country’s clean energy transition.
Deepak Maloo, head of wind power, Asia-Pacific region, General Electric, said finance and reasonable pricing are problems that any country has to encounter in the transition process. A possible measure, he said, is the integrated development of various energy sources together taking advantage of global technology.
Ho Chi Minh City-based private company TGS Green Hydrogen is preparing construction of its $840 million green hydrogen plant in the Mekong Delta province of Ben Tre, the country’s first hydrogen project.
The modern facility is designed to annually produce 24,000 tons of green hydrogen, 150,000 tons of ammonia, and 195,000 tons of oxygen in the initial state, according to a government release. The energy developer expects to put the plant into trial operation in the first quarter of 2024.
Regarding LNG-to-power, PM Chinh in early June ordered the industry ministry to recalculate the ratio of LNG power in the country’s energy mix under the draft power development plan VIII as the soaring price of imported LNG might make LNG-to-power plants until 2030 infeasible.
“Due to the Russia-Ukraine war, the price of imported LNG has soared to 15-20 U.S cents/kWh, while the current electricity selling price is 6-7 cents/kWh,” the prime minister wrote in a document sent to the ministry.
“This will be a hindrance to future negotiations on power purchase agreements between investors and Electricity of Vietnam. Moreover, LNG is a kind of fossil fuel that only helps cut CO2 emissions by half compared to coal-fired power,” the document read.
For renewable energy, policy-makers, industry insiders and experts are at odds over whether regulators should launch a bidding mechanism to select investors, or select investors via both bidding and non-bidding.
- Read More
Halal market presents major opportunities for Vietnamese businesses
The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.
Economy - Thu, August 7, 2025 | 9:18 pm GMT+7
Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant
Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.
Industries - Thu, August 7, 2025 | 8:03 pm GMT+7
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7
Indonesia's economy grows faster than expected
Indonesia's economy expanded by 5.12% year-on-year in Q2/2025, up from 4.87% in the previous quarter, exceeding the forecasts of many economic organizations, which had previously projected a rate of less than 5%, according to Statistics Indonesia (BPS).
Southeast Asia - Thu, August 7, 2025 | 8:07 am GMT+7