Renewable energy plays an increasingly important role in the diversification of energy supplies, which helps fulfil targets in climate change adaptation and reduces the negative impact of excessive energy use, Deputy Minister of Industry and Trade Dang Hoang An said on November 20.

At the sixth dialogue between the ASEAN Ministers on Energy Meeting (AMEM) and the International Renewable Energy Agency (IRENA), hosted by Vietnam online, the official further said the price of power produced from renewable resources has become more competitive with that from fossil fuels thanks to advanced science and technology.

Since the signing of an MoU at the ASEAN Ministers on Energy Meeting in Singapore in 2018, joint activities between ASEAN and IRENA have been implemented regularly despite COVID-19.

During the 6th AMEM-IRENA Dialogue, An voiced a hope that the parties will share their experience and discuss the implementation of the MoU, along with cooperation with IRENA in the time to come, to realise the sustainable energy development targets of each ASEAN member and the region at large.

Installed wind and solar photovoltaics capacity in Vietnam neared 6,000 MW in only the four years to 2017, making up some 10% of the total capacity.

The country has set a target of renewable energy, including hydropower, representing 47% of the total capacity by 2025.

Meanwhile, ASEAN is exerting every effort to reach its aspirational target of 23% renewables in the region’s primary energy mix by 2025 and 35% in combined power capacity, as stated in the ASEAN Plan of Action for Energy Cooperation (APAEC) for the 2016-2025 period.