PM Pham Minh Chinh orders swift resolution of challenges for renewable energy projects: PM Pham Minh Chinh chairs the hybrid conference on December 12, 2024. (Photo: VNA)

On December 12, chairing a hybrid conference on announcing and implementing the Government’s resolution on removing bottlenecks for the projects, the Prime Minister underscored that to achieve the country's targeted 8% economic growth in 2025, position itself for potential double-digit growth in 2026-2030, and enter a new era – the era of the nation’s rise, Vietnam must capitalise on all resources, including renewable energy infrastructure.

He called on the energy sector to ensure that electricity generation grows 1.5 times faster than economic growth, which means an annual growth rate of at least 12%.

With investments in renewable energy projects totaling more than 308 trillion VND (13 billion USD), delays in putting projects into operation waste immense social resources, he said, stressing while past implementation errors must be handled, it is a must to facilitate project continuation.

Criminal prosecution, he stressed, should be the last resort, applicable in cases that cause serious consequences and those of corruption, adding substantive and economic solutions that respect legal regulations should take precedence to ensure sound investment climate, security-order, national energy security and the harmony of interests between the State and investors.

For projects overlapping with defence or mineral planning, competent sides must make cost-benefit analyses and guide adjustments to ensure alignment with national priorities.

Regarding projects enjoying the preferential Feed-in Tariff (FIT) schemes that have been found in violations due to failure to meet eligibility criteria, the preferential rates will be revoked. Instead, electricity purchase prices must be recalculated in accordance with regulations, he said.

The Prime Minister asked ministries, sectors and localities to take the responsibility and immediate actions to clear all hurdles for the renewable energy projects, stressing the need for transparency and accountability at every level of governance. He also warned against corruption as well as group and personal interests during the process.

According to the Ministry of Industry and Trade, by the end of 2023, renewable sources, including wind and solar, represented 21,664 megawatts, constituting some 27% of the national power system. Cumulative electricity generation has reached 27,317 million kilowatt-hours, accounting for 12.75% of the total system output.

These achievements align with Vietnam's strategic energy planning, notably the National Power Development Plan VIII and the national commitment to achieve net-zero emissions by 2050.