The wind turbine system in Tuy Phong District, Binh Thuan Province. Experts say sustainable energy from solar, wind and biomass technologies will be important for Viet Nam. — VNA/VNS Photo Manh Linh

HCM CITY (Biz Hub) — Viet Nam's entire power needs could be met by renewable energy, a workshop heard in HCM City on Friday.

Jean Philippe Denruyter, a power expert at the World Wide Fund for Nature (WWF), told the workshop that without a switch to renewables Viet Nam would be emitting 450 million tonnes of carbon-dioxide a year along and importing 50 per cent of its fuel needs by then.

"Sustainable energy [from] solar, wind and biomass technologies will be unavoidable for Viet Nam."

He quoted a recent report titled "Sustainable scenarios for Viet Nam's power sector until 2050" by WWF-Viet Nam and the Viet Nam Sustainable Energy Alliance (VSEA) as saying the country could switch completely to renewables by 2050.

"At least 81 – 100 per cent of renewable energy would be generated by 2050 and annual carbon emissions would be reduced by 380 – 450 million tonnes."

Pham Hoang Hai, head of the Viet Nam Business Council for Sustainable Development (VBCSD)'s secretariat, said, "To succeed in the ambitious project, Viet Nam will need a lot of support, both technical and financial."

Officials from organisations that provide technical and financial assistance, like the Low Carbon Transition in Energy Efficiency (LCEE / GIF) - Embassy of Denmark, the German Agency for International Co-operation, the International Finance Corporation, led the discussion with corporates to develop guidelines that would better prioritise investment and loans for energy efficiency and renewable energy.

"Renewable energy is a golden investment opportunity for businesses, thanks to its almost unlimited capacity and stable and predictable costs," Pham Thi Cam Nhung, WWF-Viet Nam's sustainable energy project manager, said.

More than 60 companies across industries, including seafood processing, wood processing, food and beverages, textiles, construction and building, discussed how they could help Viet Nam achieve 100 per cent renewable energy reliance by 2050.

The workshop, titled, "Sustainable Energy Development - Business Opportunities in Viet Nam," was co-hosted by the VBCSD and WWF-Viet Nam.

With support from the Viet Nam. — VNS