PM ORDERS SWIFT RESOLUTION OF CHALLENGES FOR RENEWABLE ENERGY PROJECTS

Prime Minister Phạm Minh Chính has laid stress on the need to complete the resolution of obstacles for renewable projects by February 2025 to prevent wastefulness, contributing to ensuring electricity for development.

Chairing a hybrid conference on announcing and implementing the Government’s resolution on removing bottlenecks for the projects on December 12, the PM underscored that to achieve the country's targeted 8 per cent economic growth in 2025, position itself for potential double-digit growth in 2026-30, and enter a new era – the era of the nation’s rise, Việt Nam must capitalise on all resources, including renewable energy infrastructure.

He called on the energy sector’s growth to outpace GPD expansion by at least 1.5 times, meaning it should document an annual 12 per cent rise.

With investments in renewable energy projects totalling more than VND308 trillion (US$13 billion), delays in putting projects into operation waste immense social resources, he said, stressing while past implementation errors must be handled, it is a must to facilitate project continuation.

Criminal prosecution, he stressed, should be the last resort, applicable in cases that cause serious consequences those of corruption, adding substantive and economic solutions that respect legal regulations should take precedence to ensure sound investment climate, security-order, national energy security and the harmony of interests between the State and investors.

For projects overlapping with defence or mineral planning, competent sides must make cost-benefit analyses and guide adjustments to ensure alignment with national priorities.

Regarding projects enjoying the preferential Feed-in Tariff (FIT) schemes that have been found in violations due to failure to meet eligibility criteria, the preferential rates will be revoked. Instead, electricity purchase prices must be recalculated in accordance with regulations, he said.

The PM asked ministries, sectors and localities to take responsibility and immediate action to clear all hurdles for renewable energy projects, underlining the need for transparency and accountability at every level of governance. He also warned against corruption as well as vested group/personal interests during the process.

According to the Ministry of Industry and Trade, by the end of 2023, renewable sources, including wind and solar, represented 21,664 megawatts, constituting about 27 per cent of the national power system. Cumulative electricity generation has reached 27,317 million kilowatt-hours, accounting for 12.75 per cent of the total system output.

These achievements align with Việt Nam's strategic energy planning, notably the National Power Development Plan VIII and the national commitment to achieve net-zero emissions by 2050.

Source: VIR