Japan Firms Pledge to Support Vietnam’s Energy Transition
The Japan Chamber of Commerce and Industry (JCCI) pledged to support a realistic energy transition to achieve net-zero emissions in Vietnam without hindering the country’s economic growth, at the Vietnam Business Forum (VBF) 2024 in Hanoi recently, local media reported.
In order to promote the energy transition, the JCCI urged the Vietnamese government to establish legal systems and implementation guidelines as soon as possible to ensure the smooth progress of power development projects and prioritize measures and policy solutions to realize large-scale renewable energy, especially potential offshore wind power projects in Vietnam.
Besides, the JCCI proposed Vietnam develop specific procedures to promote the use of zero-export rooftop solar panels; relax direct power purchase agreement (DPPA) conditions for renewable energy developers; and review the current pricing mechanism for biomass energy and waste-to-power projects.
In addition, it is necessary to secure baseload resources to support the transition to renewable energy and establish a friendly environment to ensure investors’ ability to mobilize capital, the JCCI noted.