The overall objective of the Plan is to successfully implement the JETP Declaration in association with promoting the development of renewable energy, economical and efficient use of energy, contributing to the realization of the net zero emission target by 2050; developing the energy sector in harmony among sub-sectors with synchronous and intelligent infrastructure on the basis of ensuring national energy security and development objectives, ensuring fairness in energy transition.
Receiving and effectively using assistance from international partners in technology transfer, governance, human resource training, and financial provision for the implementation of the JETP Declaration, contributing to the implementation of the Indicative Strategy for the National Energy Development of Vietnam, executing the Global Declaration on Converting Coal-fired Power to Clean Energy.
Detailed objectives:
From now to 2030: Building and completing a legal framework to attract investors, businesses, and people to a just energy transition process, promoting technology transfer; Developing a Resource Mobilization Plan to implement the JETP Declaration (Resource Mobilization Plan) and just energy transition pilot projects. Implementing the Resource Mobilization Plan with international financial support and technology transfer to promote the conversion from coal-fired and fossil-fueled power to clean energy; Developing types of renewable energy and new energy (green hydrogen, green ammonia, etc.).
Upgrading and building infrastructure for generation, transmission, storage, distribution, and operation of electricity in a smart, advanced, and modern way, capable of large-scale renewable energy integration; enhancing electrification and human resource development; step-by-step mastering advanced technology, towards equipment manufacturing for renewable energy development; improving energy industry management capacity to an advanced level.
Developing the renewable energy industry, especially the industry of manufacturing renewable energy equipment, energy storage equipment, carbon capture, utilization, and storage; promoting the production of green hydrogen, green ammonia, etc. Striving to establish two inter-regional renewable energy industry and service centers in areas with great potential such as the North, the South Central, and the South by 2030.
Identifying risk mitigation measures to protect businesses, investors, workers, and poor, vulnerable households during the energy transition; new training and capacity building to capture investment and employment opportunities from the renewable energy development ecosystem.
Creating consensus and active participation of people, businesses, and communities in economical and efficient energy use, and energy conversion towards achieving the rate of renewable energy at 47% and the peak emissions of the power sector not exceeding 170 million tons of CO2 equivalent, the total installed capacity of coal-fired power not exceeding 30.127 MW, backed with full and substantive international support.
In the period after 2030, the Plan aims to continue perfecting the policy system to make energy conversion, production, and use of clean energy become regular and constant activities of organizations, businesses, communities, and the entire population under the leadership of the State and international support; Further developing the renewable energy industry, especially the industry of manufacturing renewable energy equipment, energy storage equipment, carbon capture, utilization, and storage equipment; producing green hydrogen, green ammonia, etc.
Stopping building new and phasing out coal-fired power plants, intensely implementing greenhouse gas emission mitigation measures with the aim that by 2050, emissions from the energy sector will not exceed 101 million tons of CO2 equivalent, and the renewable energy percentage in the total primary energy mix will be around 80 - 85%.
Vietnam has become a regional renewable energy center, possessing competent experts on just energy transition, capable of sharing Vietnam's experiences with the international community.