Status of the JETP in Vietnam

Minh Ha-Duong

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Abstract: The presentation details the progress and commitments of Vietnam's Just Energy Transition Partnership (JETP), which began negotiations at COP26 and culminated in a Political Declaration in Brussels on December 14, 2022. The JETP involves a mobilization of $15.5 billion, split equally between public and private funding, to align Vietnam's power sector with its net-zero pledge. Under the JETP, Vietnam aims to peak its power sector CO2 emissions at 170 Mt in 2030, restrict coal power capacity to 30.2 GW by 2030, and ensure that renewable sources account for at least 47% of electricity production by the same year. Notable achievements include exceeding the renewable energy target by 2022 and drafting the Power Development Plan 8 to restart the renewable energy sector. The slides conclude with an emphasis on strong cooperation momentum and the effectiveness of a known recipe for power sector investment that includes direct purchase agreements, auctions, grid code, tariffs, and support through training and technology transfer.

Date: 2023-04-18
New Economics Papers: this item is included in nep-ene, nep-env and nep-sea
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Published in École thématique. The Just Energy Transition Partnerships in South Africa, Indonesia and Vietnam, Online, Thailand. 2023

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