The renewable power prices have fallen quickly over the past time, raising its competitiveness over other traditional energy sources while many localities have turned their back on coal-fired power for fear of environmental pollution, according to the Ministry of Industry and Trade.
The above changes require scientific and comprehensive evaluation of power development, the ministry said, adding that it will submit a new power development master plan through 2030, vision to 2045 that includes mechanisms for implementation of future power projects.
Representatives from various ministries and agencies voiced support for a fresh master plan that lays focus on renewable energy development and properly power source structure.
PM Phuc spoke highly of the power sector’s efforts in ensuring sufficient power supply as demand skyrocketed over the past days.
The Government chief, however, ordered the Ministry of Industry and Trade to promptly clarify what have hindered progress of solar, wind, and gas power projects.
For investment capital sources, PM Phuc called for socialization of investment capital, including from foreign-funded sector.
He agreed on the need to supplement the 7th Master Plan for Power Development at the proposal of the Ministry of Industry and Trade and asked for early submission of the 8th Master Plan.
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