Praising Vietnam's commitments to go green, leaders of France, the US and the President of the EC, and international organizations at COP28 said they would help Vietnam in the energy transition process.

Deciding to totally divest from Mong Duong 2 thermal power project in Quang Ninh province, AES, the US-based energy corporation, said it wants to turn its low-emission goal into reality.

From 2023 to 2050, the share of renewable energy in the energy mix is expected to increase from 26 to 62 per cent.

The Ministry of Industry and Trade (MOIT) has found that 24 renewable power projects want direct power purchase agreements (DPPA), while the other 17 projects are considering seeking direct buyers.

By 2030, Việt Nam's offshore wind power is projected to reach 6,000MW, with a goal of over 70,000MW by 2050.

The Ministry of Industry and Trade (MOIT) has sent a document to Enterprize Energy, replying to a proposal on the trial development of an offshore wind power project, Thang Long Wind/Thang Long Wind 2, initiated by Enterprize Energy.

Renewable energy companies have recorded declining earnings results, partly due to burdens on corporate bond payment.

Vietnam should have a mechanism to enhance foreign investment capital (FDI) to the renewable energy industry, experts said.

The Ministry of Industry and Trade (MOIT) says that electricity prices from solar power plants in the north that sell to Electricity of Vietnam (EVN) will be higher than those in the central and southern regions.

The pricing for new solar energy projects may differ based on the solar radiation intensity specific to each region across the country.

The energy sector is a new important pillar of cooperation added to the Vietnam-Singapore Framework Cooperation Agreement,

The draft encourages installation of rooftop solar power systems on people’s homes and office buildings, but does not encourage them for industrial zones, schools, hospitals, airports, seaports, railway stations and bus stations.

Vietnam still pursues a bureaucratic, subsidized way of thinking which lacks a long-term, large-scale vision, with development strategies "full of crumbs and holes".

Vietnam's Ministry of Industry and Trade has put forth innovative measures for direct electricity purchases, bypassing conventional channels and potentially accelerating the country's transition to renewable energy sources.

After over 6 years of preparation, the Ministry of Industry and Trade has reported draft regulations to the prime minister, proposing a pilot mechanism for direct power transactions between renewable energy suppliers and large electricity consumers.

In a significant stride towards renewable energy adoption, 15 transitional renewable energy projects have contributed approximately 154 million kilowatt-hours (kWh) of electricity.

Renewable energy investors are being assured that national policy and electricity purchase prices are both secure and lucrative.

By June 27, 13 renewable energy power plants or projects with a combined capacity of 640.52MW have completed commercial operation date (COD) procedures and are now generating commercial electricity to the grid.

Investors in 65 out of the total 85 renewable energy transition projects, with a combined capacity of 3,640 MW, have written to Vietnam Electricity Group (EVN) proposing pricing negotiations before purchase agreements are reached.

As the world has reduced its dependence on traditional non-renewable energy sources, industrial metals, especially copper, will become an indispensable material for the transformation to green energy.