Deputy Prime Minister Bui Thanh Son has signed Decision No. 458/QD-TTg approving the Project to update and implement the Political Declaration establishing the Just Energy Transition Partnership (JETP).

Improving institutions and attracting investment in renewable energy

The overarching objective of the Project is to implement the JETP Declaration in alignment with Resolution No. 70-NQ/TW and the National Power Development Plan for the 2021 - 2030 period, with a vision to 2050. The initiative aims to ensure national energy security, provide sufficient electricity for socio-economic development, national defense and security, and improve people’s livelihoods.

The roadmap emphasizes a proactive and equitable energy transition, accelerating the development of renewable and new energy sources, while promoting efficient energy use. This contributes to Vietnam’s commitment to achieving net-zero emissions, in line with national conditions and interests.

The Project identifies that, by 2030, priority will be given to completing a synchronized legal and policy framework to create a favorable investment environment. This includes encouraging offshore wind power, solar power, and energy storage systems. It also calls for research and development of national technical standards and regulations on environmental protection and greenhouse gas emissions for emerging technologies such as carbon capture, utilization and storage (CCUS), green hydrogen, and green ammonia.

The Project highlights the importance of mobilizing international resources to develop and upgrade infrastructure for electricity generation, transmission, storage, and distribution, ensuring the capacity to integrate large-scale renewable energy sources. Human resource development and gradual mastery of advanced technologies are identified as critical priorities, paving the way for domestic manufacturing of renewable energy equipment.

In the industrial sector, the Project outlines the development of renewable energy industries, equipment manufacturing, energy storage systems, and carbon capture and utilization technologies. It also promotes the production, use, and transportation of green hydrogen and green ammonia. By 2030, the goal is to establish two renewable energy industrial and service centers in regions with high potential.

The transition is designed to be inclusive, creating new jobs, supporting workforce reskilling and upskilling, and ensuring social security for vulnerable groups. It also encourages public and business participation in clean, efficient energy consumption.

Under the targets set, renewable energy is expected to account for approximately 47% of total installed power capacity by 2030. Coal-fired power capacity will be capped at between 30.2 and 31.055 GW, while greenhouse gas emissions from the power sector will peak at no more than 170 million tonnes of CO2 equivalent.

Accelerating the transition from coal to clean energy

Beyond 2030, the Project will continue to refine policies to promote clean and efficient energy use, aiming to make it a routine practice for organizations, businesses, and communities.

No new coal-fired power plants will be developed, and plants older than 40 years will be phased out unless they can be converted to alternative fuels. At the same time, strong measures will be implemented to reduce greenhouse gas emissions, with the goal of limiting energy-sector emissions to no more than 101 million tonnes of CO2 equivalent by 2050, while increasing the share of renewable energy to approximately 80 - 85% of total primary energy.

To achieve these goals, the Project sets out 10 key tasks. These include improving policies for energy transition, accelerating the shift from coal to clean energy, developing an industrial and service ecosystem for renewable energy, and promoting energy efficiency.

In addition, efforts will focus on upgrading power transmission and distribution systems, developing smart grids and energy storage systems, advancing green energy transition in transport and construction, fostering innovation and technology transfer, ensuring fairness in the transition process, strengthening public awareness, and expanding international cooperation to mobilize resources for a just energy transition.

The Project also underscores the importance of communication efforts to raise awareness of both opportunities and challenges associated with the transition, integrating communication activities into the development and implementation of energy transition programs and projects.