Vietnam generates a significant part of its electricity from coal and gas-based thermal power plants, as well as from a vast number of hydropower plants. To alleviate the climate change effects of thermal power generation, its government is turning towards renewable power generation sources. The Vietnamese power sector presents significant opportunities for renewable energy, with wind, solar power and biopower holding large potential for development. Against this backdrop, the country’s cumulative renewable power capacity is forecast to reach 112.1GW by 2035, registering a compound annual growth rate (CAGR) of 14.3% in the period from 2024.
Vietnam’s renewable power generation increased from 21.1 terawatt hours (TWh) in 2020 to 38.5TWh in 2024, registering a CAGR of 16%. From 2024 to 2035, it is expected to further increase to 179.6TWh in 2035, growing at a CAGR of 15%.
The…
