Data from national utility Vietnam Electricity (EVN) showed that renewable energy, consisting of solar and wind power, accounted for 4.8 percent of total power generation, which was 57.3 billion kWh, up 6.3 percent year-on-year.

Coal-fired power accounted for 59.2 percent of the total, followed by gas-fired, hydropower and renewable energy generation.

Hydropower slumped 30.4 percent to 9.5 billion kWh due to water shortages in major reservoirs. EVN had to mobilize more oil-fired power plants at higher costs to make up for the loss.

As many as 91 solar farms with a total capacity of 4,550 MW began operating in Vietnam last year.

The government has so far licensed solar plants with a total capacity of 25,000 MW, far higher than the original target of 4,000 MW by 2025.

Meanwhile, the government has greenlighted a proposal by the Ministry of Industry and Trade to lower electricity prices by 10 percent in April, May and June to support citizens and businesses in dealing with the impacts of the Covid-19 pandemic.