The country now aims to source 16% of its energy from solar power, a significant increase from its previous target of 5%. The new policy draft, expected to be finalized soon, eliminates plans for offshore wind turbines in favor of expanding onshore wind capacity, rooftop solar, and energy storage solutions.
Offshore wind and new gas projects have been costly and challenging, whereas large solar farms are more economical and easier to construct.
To meet the growing demand for electricity, Vietnam is focusing on expanding large solar farms. The country projects it will need over 211 gigawatts of energy by 2030, which is 40% higher than its previous estimate and surpasses Germany's current total capacity.