Recently, the National Petroleum Corporation of Vietnam said that renewable energy is “inevitable” and is seriously considering an increase of 900 megawatts of capacity through solar, floating photovoltaic, wind and waste power stations by 2035.
The management of PetroVietnam acknowledged and pointed out that due to the “severe drop” in crude oil prices and the COVID-19 pandemic, many oil and gas companies and groups around the world are facing difficulties and financial losses in the first five months of 2020. The domestic crude oil production of most of the domestic offshore oil fields in Vietnam has reached its peak. At a time when fossil fuels are shrinking, the development of renewable energy business is inevitable. The company may initially venture to use floating solar mounting on its hydroelectric power stations and install rooftop solar mounting for its existing coal-fired power plants, and then increase solar, wind and waste power stations through local and global investors.
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