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Vietnam ranked eighth in renewable energy investment
With an investment of $ 7.4 billion in wind and solar power, Vietnam has the potential to become a major renewable energy producer in the world.

Mr. Weert Börner told about energy transition. Photo: Gia Chinh

The above information was said by Mr. Weert Börner, Deputy Ambassador, Head of Economic Department of the German Embassy at the exhibition of renewable energy by this agency together with GIZ (German International Cooperation Organization), in the morning of April 23.

Mr. Weert Börner cited data in 2020 showing that China is the largest investment in renewable energy in the world with 83.6 billion USD, second is the US with 49.3 billion USD. Vietnam ranks above France and Germany when the amount of investment in renewable energy of these two countries is 7.3 billion USD and 7.1 billion USD, respectively.

German Ambassador Guido Hildner assessed that, facing the challenge of climate change, the world is in an energy transition and Vietnam has a lot of potential to become a renewable energy powerhouse with solar power and electricity, wind, biomass power.

This position pointed out, in just 30 years, Germany from zero has reached 46% of the total energy is renewable energy and the share of coal electricity down to 18%.

Sharing this point of view, Mr. Nguyen Duc Hien, Deputy Head of the Central Economic Commission, affirmed that solid energy security is the foundation and premise of Vietnam's socio-economic development. In many documents, Vietnam has identified the rapid and sustainable energy development, one step ahead associated with the protection of the ecological environment.

Vietnam has identified a specific energy transition direction, the rate of renewable energy will reach 15-20% by 2020, 25-30% by 2045. "Prioritize the use of wind and solar energy, promotion to encourage investment in power plants from urban wastes and biomass, Mr. Hien added.

The six benefits of energy conversion, according to German experts, include avoiding energy imports; proactive supply security; improve environmental health and human health; create more jobs; stimulate innovation; value added to the region.

"The development of electrification in rural areas can save at least 20% compared to conventional grid electricity. It also reduces the concentration of energy supplies and doubles employment compared to coal electricity due to the use of electricity on-site labor,”said Weert Börner.

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