Vietnam is ahead of Southeast Asia in its push for renewable energy
Southeast Asia, long criticized for lagging behind in its efforts to adapt to more sustainable ways, is still heavily reliant on coal consumption.Global energy consultancy firm, Wood Mackenzie, said Vietnam is now the leader in Southeast Asia's solar photovoltaic market and has the largest installed capacity in the region.
"The power development plan of Vietnam is evolving continuously," Cremer told CNBC at the Asia Clean Energy Summit last week. The government's renewables and hydro targets for its energy mix was raised from 16% in 2011 to 23% in 2016. Global energy consultancy firm, Wood Mackenzie, said Vietnam is now the leader in Southeast Asia's solar photovoltaic market and has the largest installed capacity in the region. Solar PV is a technology that converts sunlight into electrical energy.
"People living there are clearly demanding better air quality. And that is another reason we are seeing a push for renewables," he added.
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