Prime Minister Chính Urges Swift Resolution of Renewable Energy Project Bottlenecks
Hanoi, The Gulf Observer: Prime Minister Phạm Minh Chính has emphasized the urgency of resolving obstacles to renewable energy projects by February 2025, highlighting their critical role in ensuring electricity for national development and preventing resource waste.
During a hybrid conference on December 12, convened to announce and implement the Government’s resolution addressing these issues, the Prime Minister underlined that achieving Vietnam’s ambitious economic growth targets—8% in 2025 and potential double-digit growth in 2026-2030—requires maximizing all resources, particularly renewable energy infrastructure.
Energy Sector as a Growth Driver
The Prime Minister stressed that the energy sector must grow at a rate at least 1.5 times faster than GDP, targeting an annual expansion of 12%. With over VNĐ308 trillion (US$13 billion) invested in renewable energy projects, delays in their operation waste significant social resources and hinder development.
While acknowledging past implementation errors, the Prime Minister prioritized economic and legal solutions to facilitate project continuation, ensuring an investment-friendly environment and safeguarding national energy security. Criminal prosecution, he noted, should be a last resort, reserved for cases involving severe consequences or corruption.
Clear Guidelines for Renewable Projects
Key directives included:
- Resolution of Overlaps: For projects overlapping with defense or mineral planning, competent authorities are tasked with conducting cost-benefit analyses to align projects with national priorities.
- Electricity Pricing Revisions: Projects previously benefiting from preferential Feed-in Tariff (FIT) schemes but failing to meet eligibility criteria will lose those incentives. Electricity purchase prices must be recalculated in accordance with regulations.
- Transparency and Accountability: Ministries, sectors, and localities were urged to act immediately to eliminate hurdles, ensuring transparency and accountability while avoiding corruption and undue influence.
Renewable Energy Achievements
According to the Ministry of Industry and Trade, renewable energy sources, including wind and solar, accounted for 21,664 megawatts—27% of the national power system—by the end of 2023. Cumulative electricity generation from these sources reached 27,317 million kilowatt-hours, constituting 12.75% of the total system output.
These achievements align with Vietnam’s strategic energy objectives, as outlined in the National Power Development Plan VIII and its commitment to achieving net-zero emissions by 2050.
A Call for Collective Effort
Prime Minister Phạm Minh Chính called on all stakeholders to expedite the resolution of challenges in renewable energy projects, ensuring Vietnam’s transition into a new era of growth and elevating its position as a leader in sustainable energy development.
