Energy promotes economic growth, increases budget revenue

In recent years, Ninh Thuan has turned difficulties, disadvantages, and challenges into opportunities and advantages for development; effectively exploiting natural resources from sunlight and wind to develop the energy industry, renewable energy (RE) to produce electricity. The RE industry increasingly contributes significantly to ensuring national energy security, stable budget revenue, and contributes significantly to the socio-economic development of the province.

As evidence, in the period of 2016-2020 (up to the end of 2020), the whole province had 44 wind power, solar power, and hydropower projects invested in and completed, connected to the national grid, generating 3,500 million kWh of electricity, an increase of 2,313 million kWh compared to 2015, an average increase of 24.1% per year in the period of 2016-2020. The renewable energy projects have contributed greatly to the overall growth of the province, creating an important driving force and lever to promote the province's socio-economic development; especially in the last 3 years of the 2016-2020 term, putting the province in the group of provinces with the highest GRDP growth rate in the country. The average GRDP growth rate in the 2016-2020 period reached 10.2%/year, the economic scale continued to expand, 2.16 times higher than in 2015. The proportion of the agriculture sector in the province's GRDP increased gradually over the years (in 2018 it increased by 2.1%; in 2019 it increased by 8.3%; in 2020 it increased by 15.6%); budget revenue increased rapidly, increasing by an average of 12.8%/year. The province's socio-economic development is comprehensive and fast and sustainable.

Hanbaram Wind Power (Thuan Bac).

In the period of 2021-2025, despite many difficulties, especially the impact of the COVID-19 pandemic, the decline of the world and domestic situation, the renewable energy sector continues to affirm itself as the driving force for the province's economic growth. Up to now, the whole province has attracted investment to complete, put into operation and connect to the grid 57 wind power, solar power and hydropower projects, with a total capacity of 3,749.942 MW; the proportion of the renewable energy sector in 2024 accounts for 17.2% of GRDP and contributes greatly to the overall growth of the province. Annually, the total electricity output generated to the national power system is estimated at 8.7 billion kWh, accounting for 6.69% of the total electricity output of renewable energy nationwide (130 billion kWh), contributing to ensuring national energy security; deploying, completing and organizing the implementation of the Project to develop Ninh Thuan into a renewable energy center of the whole country. Renewable energy and renewable energy projects contribute to increasing the value of land use, especially arid, barren land that cannot develop agriculture; especially optimizing the use of salt production land combined with renewable energy development (wind power) and agricultural production land combined with renewable energy development. The total state budget revenue in the province in 2024 will reach 4,849 billion VND; of which the renewable energy sector will contribute 1,163 billion VND to the provincial budget; creating jobs for about 18,505 workers in the province, improving people's lives.

Implementing the policy of encouraging people to install rooftop solar power systems for use and to be able to sell surplus electricity back to the electricity industry, as of January 31, 2025, there were 3,642 rooftop solar power systems installed in the province, with a total capacity of 393,808 MWp...

People in Phuoc Thuan commune (Ninh Phuoc) invest in rooftop solar power. Photo: Van Ny

Renewable energy and renewable energy projects have made important and decisive contributions to impressive results in the province's socio-economic development. The province's GRDP growth rate in recent years has been among the top in the country, with per capita income in 2024 reaching 98.2 million VND/person, bringing Ninh Thuan from a poor province to a middle-income province and creating an important premise for continued development in the coming time. Along with that, tax revenue from the renewable energy sector accounts for a fairly large proportion in the total domestic revenue structure managed by the tax sector. This is also an important source of revenue exploited from the potential and strengths of the province. With a large and stable tax payment, it is expected that this source of revenue will continue to make a large contribution in the following years, creating momentum for sustainable growth for the province's budget revenue. In particular, completed renewable energy projects connected to the national grid have contributed to reducing greenhouse gas emissions by 97.9% compared to traditional electricity (coal power) and achieving the goals of responding to climate change, protecting the environment and ensuring national energy security. Promoting and encouraging the development of renewable energy in the province contributes to adapting to climate change and Vietnam's commitment at the COP26 Conference, aiming at the goal of energy transition to achieve net zero emissions by 2050.

Spring Binh

Source: http://baoninhthuan.com.vn/news/152046p1c25/nang-luong-thuc-day-tang-truong-kinh-te-tang-thu-ngan-sach.htm