"No Coal Post-2030": Vietnam Bets Big on Solar & DPPAs for Net Zero

In the latest draft report prepared by the Vietnamese government, it is planned to add 23.8GW of large-scale solar energy projects between 2025 and 2030, but requires Government approval and detailed project reserves list to be indicated in the final revised version of the Power Development Plan (PDP) or its implementation roadmap. The offshore wind power project with a target of 6GW will be postponed until 2035 due to setbacks.

Source：News media

Vietnam was in a leading position in the deployment of public utility solar energy in 2019 and 2020, with an average of 5.5 gigawatts of new installed capacity added in these two years under the promotion of feed-in tariff (FIT) policies. At present, new large-scale solar project developers can sell electricity to state-owned utility EVN and sell electricity to large-scale electricity consumers through direct purchase agreements (DPPA).

Source：News media

In addition, Vietnam plans to limit the installed capacity of coal-fired power plants to 2GW from now until 2030 and promises not to build any new coal-fired power plants after 2030 to achieve the goal of net zero emissions by the middle of this century.