Security of energy supply would improve sharply after reaching net zero emissions

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VIETNAM, June 3 – Crude oil, coal, gas, hydropower and renewable energy are domestically exploited energy sources, of which coal has played the leading role in the country’s energy sector. — Photo baodautu.vn


Ly Ly Cao


HÀ NỘI — Independent energy-importing countries like Việt Nam will be hit hard by soaring coal and crude oil prices on the international market. Therefore, by reaching net zero emissions by 2050, the country’s reliance on fuel imports will decrease significantly, according to the 2021 Việt Nam Energy Outlook report released on Thursday.


The growing demand for fossil fuels for power plants has transformed Việt Nam from a net energy exporter to a net energy importer since 2015 and shifted the energy mix in total primary energy supply.


Crude oil, coal, gas, hydroelectricity and renewable energy are domestically exploited energy sources, of which coal has played the leading role in the country’s energy sector.


In 2019, the net import of oil corresponded to 30% of Vietnamese oil consumption, while around 50% of the coal used in Việt Nam comes from abroad, according to the report.


The report showed that fossil fuel costs accounted for 37% of total system costs in 2020.


The participation of solar and wind power in the energy system since 2019 has reduced fuel imports in the electricity sector amid soaring fuel prices, due to geographical tensions and increased demand during the post-pandemic global economic recovery.


Even though solar and wind energy are dependent on factors such as wind speed, solar insolation, and rainfall, these risks can be mitigated through effective energy system planning.


While Việt Nam has committed to achieving net zero greenhouse gas emissions by 2050, diversifying energy sources will help the country achieve this goal. In the net zero scenario, the country will be almost self-sufficient in energy supply by 2050, according to the report.


Introduction of offshore wind


Việt Nam’s long coastline naturally offers enormous potential for offshore wind power.


“We notice that Việt Nam sits on some of the best offshore wind resources in Asia. In our 2020 study, we have established a total technical potential for offshore wind of 160 GW,” Erik Kjær, chief adviser at the Danish Energy Agency, told the meeting.


It will be very different from existing coastal and intertidal wind projects, which are sometimes called offshore wind projects in Việt Nam.


Indeed, the new offshore wind industry will be distinguished by both distance from shore, scale and technology.


Driven by larger and more efficient wind turbines, lower capital and operating costs and other technological advances, the price of electricity produced by offshore wind energy has fallen globally, which is vital and is an excellent incentive for the rapid growth of the industry.


However, as offshore wind is a complex and large-scale technology, and often a risky project requiring large investments with a complete supply chain and the commitment of several authorities, it takes many years to deploy a wind farm. offshore wind in experienced offshore wind countries and even longer in countries with little or no experience.


“According to the Danish experience, it could easily take seven years or more before you can make the transition from a large project,” Kjær said, adding that Denmark will continue to support Việt Nam in the implementation of wind projects. offshore.


Denmark has been a pioneer and world leader in offshore wind energy since 1991, when it commissioned the world’s first offshore wind farm.


Today, Denmark is taking the initiative to reduce the costs of offshore wind energy. An auction for a 1,000 MW offshore wind project completed at the end of 2021 set a new record and demonstrated the competitiveness of the technology, with favorable regulatory framework conditions.


The 2021 Việt Nam Energy Outlook report, which was developed in close collaboration between the Danish Energy Agency (DEA), the Electricity and Renewable Energy Authority (Việt Nam) and the Danish Embassy, was presented in Hà Nội.


The report offers five main scenarios, which are the baseline, green energy, green transport, air pollution and pathway to net zero scenarios.


It is expected that the report will make concrete contributions to the implementation of Việt Nam’s National Electricity Development Plan No. 8 (PDP8), National Energy Master Plan, Vietnam Strategy on climate change and other government plans and strategies. VNS

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