Vietnam wants the UK to share experience in developing renewable energy

On the afternoon of July 31, at the Government headquarters, Deputy Prime Minister Tran Hong Ha received Mr. Graham Stuart, Minister of Energy Security and Net Zero, UK.

Phó Thủ tướng Trần Hồng Hà tiếp ông Graham Stuart, Bộ trưởng An ninh năng lượng và net zero, Vương quốc Anh. (Nguồn: VGP)

Deputy Prime Minister Tran Hong Ha received Mr. Graham Stuart, Minister for Energy Security and Net Zero, UK. (Source: VGP)

The Deputy Prime Minister appreciated the spirit of action of the UK government , as well as of Minister Graham Stuart, in implementing the Just Energy Transition Partnership (JETP).

In recent times, Vietnam has carried out many specific activities to promote the implementation roadmap of JETP such as establishing a Secretariat; exchanging with leaders of a number of countries expressing great interest in JETP; exchanging with representatives of partners and international organizations within the framework of multilateral cooperation mechanisms such as the Glasgow Financial Alliance for Net Zero Emissions (GFANZ), the Asian Net Zero Emissions Community (AZEC)...

According to the Deputy Prime Minister, the most important thing is to quickly select projects and work to implement in practice to achieve real results.

The Deputy Prime Minister expressed his impression of the results the UK has achieved in developing renewable energy sources (wind power, solar power) to replace fossil fuel energy since 2012.

These are very valuable experiences for Vietnam to accelerate the process of awareness, unify actions, and harmonize the interests of businesses, the state, people and the world when implementing energy transition.

The Deputy Prime Minister asked the UK to share how it has implemented its rooftop solar power policy; introduce businesses that have successfully invested in wind power, solar power, smart grid, green hydrogen, green ammonia, large-capacity electricity storage systems, etc. with the highest efficiency and lowest cost.

The Deputy Prime Minister also hopes that the UK will share its experience in building policies and criteria for selecting investors to ensure the best overall benefits, and mechanisms for buying and selling electricity directly from renewable energy sources.

Deputy Prime Minister Tran Hong Ha expressed his impression of the results the UK has achieved in developing renewable energy sources. (Source: VGP)

Thanking the Deputy Prime Minister for taking the time to meet him, Minister Graham Stuart informed about the process and results of converting electricity sources using coal and fossil fuels in the UK since 2012 to renewable energy sources.

Accordingly, in 2012, coal-fired power sources accounted for 40% of total electricity output and it is expected that all coal-fired power plants in the UK will stop operating by 2024. Meanwhile, the proportion of electricity from renewable energy increased from 10% (in 2010) to 40% of total electricity production in 2023 and will continue to increase strongly in the coming years.

The lessons learned for the UK Government are the need to build a legal framework, long-term and stable policy commitments for investors to reduce risks and capital costs; support businesses through working groups on solar power, wind power, job creation in the green energy sector..., with the participation and coordination of many ministries and branches; and unlock investment capital sources from large financial institutions...

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