Vietnam's Stalled Energy
(Still) waiting on a plan
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Today I’m revisiting energy policy and development, an area I’ve covered a few times here before. A quick note that I’m not getting into the technical aspects of this topic as I’m not well-versed enough - though I’d love to hear from readers who are.
Fading light
Over the last year or so, there’s been a noticeable dimming in enthusiasm over Vietnam’s energy sector. Starting in 2017, solar power began to absolutely explode here thanks to favorable policies, vaulting Vietnam into the top 10 globally in terms of solar energy capacity.
By 2020 the government’s solar goal for 2025 had been demolished - one of the few areas I can think of where development far exceeded expectations. (See: any infrastructure project I’ve ever written about.)
Vietnam was rightfully hailed for its forward-thinking policies on solar (and wind, to a somewhat lesser extent), and major international renewable players started eyeing investments.
While there is still plenty of interest in renewables, the shine has come off somewhat, largely thanks to regulatory paralysis.