Vietnam is striving to meet its renewable energy goals, which include sourcing 30% of its electricity from renewables by 2030. However, the country faces significant challenges, including a lack of sufficient infrastructure and technological expertise in clean energy. To overcome these hurdles, foreign companies, particularly from countries like Japan, South Korea, and the EU, are bringing in much-needed capital, advanced technologies, and know-how. This influx of foreign expertise has spurred the development of large-scale solar and wind projects, key components of Vietnam’s clean energy push.
Foreign investors are also drawn to Vietnam’s growing energy market, which is expected to offer significant returns due to its rapid economic growth and demand for clean power. A variety of international companies, such as AES Corporation, Siemens Gamesa, and the French energy giant EDF, are making substantial investments in the sector. These partnerships are helping to develop both onshore and offshore wind farms, as well as solar power initiatives.
The government of Vietnam has set ambitious targets for renewable energy, but the involvement of foreign firms is seen as vital for the country to meet its environmental commitments. With increasing cooperation between local and international players, Vietnam is well-positioned to become a key player in Southeast Asia’s clean energy transition. The article emphasizes that collaboration between foreign investors, the Vietnamese government, and local enterprises will be essential for the country’s sustainable energy future.
Foreign firms speed Vietnam’s clean energy drive | The Asset
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