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Status of the JETP in Vietnam

Author

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  • Minh Ha-Duong

    (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique)

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.

Suggested Citation

  • Minh Ha-Duong, 2023. "Status of the JETP in Vietnam," Post-Print hal-04485660, HAL.
    • Handle: RePEc:hal:journl:hal-04485660
    Note: View the original document on HAL open archive server: https://hal.science/hal-04485660
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