Vietnam's renewable energy investment ranks among the top eight in the world

    Vietnam’s statistics agency recently released data showing that in 2020, Vietnam’s investment in wind power and photovoltaic Home Power Solar Systems power generation projects reached US$7.4 billion, ranking eighth in the global renewable energy investment rankings, surpassing France and Germany.

    Vietnam is assessed as a future renewable energy powerhouse in the fields of solar, wind and biomass. Vietnam's goal is to generate 25% to 30% of its total energy generation from renewable sources by 2045. In particular, priority investment policies are adopted for wind and solar power generation projects. In addition, the country encourages investment in waste-to-energy and biomass-to-energy projects. Vietnamese experts believe that the benefits of renewable energy transition include reducing Vietnam’s dependence on energy imports, ensuring national energy security, protecting nature and improving national health, creating employment opportunities, technological innovation, and increasing regional added value.

    Statistics for 2020 show that in terms of renewable energy investment, China tops the list with $83.6 billion, followed by the United States with $49.3 billion.