The renewable energy complex in Thuan Bac district, Ninh Thuan province (Photo: VNA)

It cited statistics from the World Bank that Vietnam currently has the largest installed solar power capacity in Southeast Asia, with 16,500 MW generated in 2020. Moreover, Vietnam was among the 10 nations with the most solar energy capacity in 2020. Given Vietnam's high solar power potential and ambitious green energy targets by 2050, Vietnam has every opportunity to become a global leader in renewables, according to the article.

There is also a compelling rationale for establishing wind energy projects in Vietnam due to evidence that it has some of the greatest wind resources in the region, with a potential of 311 GW. According to the World Bank, more than 39% of Vietnam’s area has wind speeds greater than 6 meters per second, equivalent to 512 gigawatts of capacity.

Vietnam has recently seen phenomenal solar power growth, which is just the beginning of its energy transition away from coal.