VOV.VN - While receiving outgoing Finnish ambassador to Vietnam Kari Kahiluoto on July 15, Deputy Prime Minister Pham Binh Minh suggested that Finland soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA) to benefit both sides.

The International Finance Corporation (IFC) has provided a US$100 million long-term loan for the Orient Commercial Joint Stock Bank (OCB) to increase the private sector’s contributions to green and sustainable growth in Vietnam.

Vietnam is making rapid strides in shifting from fossil fuels to clean energy in the post-COVID-19 world, according to a recent article published by the website asiatimes.com.

The Ministry of Industry and Trade (MoIT) needs to study and direct Vietnam Electricity (EVN) to issue regulations on the transmission and distribution system to ensure the stable operation of the power system amid abundant wind and solar power sources.

It is likely that Vietnam will have to reduce renewable energy sources in the next five years, as booming development in recent years was weighing on the power system, according to a recent report by the Institute of Energy.

Electricity of Vietnam (EVN) plans to mobilise 32 billion kWh of renewable energy, including 26.3 billion kWh of solar power, meaning the output of coal-fuelled and hydro-power plants will be reduced.

Hitachi SE's renewable energy business expanded its market to Vietnam by signing a strategic cooperation agreement with Trung Nam Wind Power Joint Stock Company of Trung Nam Group (TNG) in Ho Chi Minh City on May 14.

Vietnam’s total output of electricity from renewable energies hit 9.5 billion kWh in the first four months of 2021, up 156.9% year-on-year, and accounting for 11.8% of the total electricity output, according to a report by the Vietnam Electricity (EVN).

Samsung Electronics Vietnam is seeking support from the Vietnamese Government to enter into a direct power purchase agreement (DPPA) scheme that will enable it to directly purchase renewable energy from producers.

Vietnam will soon lead Southeast Asia in renewable energy development, Germany’s Energiezukunft highlighted in its latest article, describing the country’s energy transition as very impressive.