Vietnam PM approves $134.7bn energy plan, unlocking G7 green-transition funds

Vietnam’s Prime Minister Pham Minh Chinh has approved a power development plan requiring US$134.7 billion of funding for brand new energy plants and grids, a move that would doubtlessly unlock billions of dollars in foreign funding. The plan, known as PDP8, goals to ensure power safety for the Southeast Asian nation while transitioning from its current heavy reliance on coal to carbon neutrality by 2050 reviews Channel News Asia.
Psycho of the plan is an important step to entry an initial investment of US$15.5 billion in green-transition funds pledged to Vietnam in December by the Group of 7 (G7) nations and different wealthier nations. Half of the funds will come from the public sector, with the rest provided by personal buyers.
Under the plan, 50% of workplace buildings and homes in Vietnam would be powered by rooftop solar panels by 2030. Additionally, the country goals to generate green energy for exports, targeting 5 to 10 gigawatts (GW) by 2030..

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