Incentives needed to encourage solar energy development: Deputy PM Hai

Deputy Prime Minister Hoang Trung Hai has asked the Ministry of Industry and Trade to formulate incentive policies to make solar power development more appealing to investors.

 

According to the Power Master Plan VII, Vietnam’s power demand is projected to increase by 10% annually over the next five years and the country should soon consider renewable energy sources to partly replace fossil fuels.

 

According to some estimates, Vietnam has long hours of sunlight - between 1,400 and 3,000 hours a year - and a high heat flux density, which are adequate to generate electricity for basic needs such as cooking.

 

However most solar energy farms in Vietnam are only pilot projects and not connected to the national grid due to high investment costs and a lack of an appropriate pricing policy.

 

Earlier in the day, Deputy PM Hai also had a working session with the government committee on the development of economic and industrial zones where he called for bold measure to increase occupancy rates in these areas.

 

He requested the Ministry of Planning and Investment review and streamline current administrative procedures to make industrial and economic zones become true engines for both local and national growth.

 

Over the past nine months, five more new industrial parks have been established, raising the national total to 299 covering 85,000 hectares. Of the total, 212 parks have come into operation with an occupancy rate of 67%, up 2% from the end of 2014.

 

Vietnam also has 16 economic zones covering 815,000 hectares with the latest one being the Quang Tri Southeastern Economic Zone.

 

(Source: nhandan.org.vn)