News

Vietnam's business giant Vingroup, globally known for its electric vehicles, is set to enter the energy sector, focusing on wind, solar, and liquefied natural gas (LNG) power plants. The total investment could reach up to $30 billion.

The Vietnamese government has introduced a new electricity decree, prioritizing the promotion of power generation projects using renewable energy sources such as solar and wind power, as well as energy storage systems.

Vietnam is expected to finalize the updated National Power Development Plan (PDP8) by the end of February. According to the draft, the country has significantly raised its electricity demand forecasts, energy imports, and renewable energy capacity. Solar

To achieve net zero by 2050, Vietnam is implementing an energy transition action plan, which includes phasing out outdated coal-fired power plants while exploring the feasibility of co-firing biomass and ammonia.

Driven by the global push for net-zero emissions, Vietnam saw a substantial rise in green buildings last year, reaching a total of 559, far surpassing its 2030 target by more than threefold.

Vietnam’s carbon market is gradually taking shape as Prime Minister Pham Minh Chinh officially approves the national blueprint, establishing both mandatory and voluntary markets, with full implementation expected by 2029.

Vietnam will remove its exemption from registration fees for electric vehicles (EVs). EV owners will be required to pay a registration fee based on the number of seats, which will be 50% of the fee for regular gasoline vehicles.

Vietnam's offshore wind power development has come to a standstill, as the latest draft revision of the country’s National Power Development Plan 8 (PDP8) extends the 6 GW offshore wind target from 2030 to the 2031–2035 period.

Vietnam has pledged to begin utilizing nuclear power by 2030. The government is also in discussions with five countries, including Russia, about potential cooperation.

Less than a month after the Vietnamese government issued the new Electricity Law, it has introduced five draft decrees for public consultation, with one focusing on the Direct Power Purchase Agreement (DPPA) mechanism.