Deputy Prime Minister Tran Hong Ha (R) and UK Minister of State for Energy Security and Net Zero Graham Stuart at their meeting in Hanoi on July 31. Photo: VNA

Deputy Prime Minister Tran Hong Ha appreciated UK Government's actions and Minister Graham Stuart's efforts in carrying out the Just Energy Transition Partnership (JETP).

Vietnam had many specific activities to promote the JETP implementation roadmap, such as establishing a Secretariat and talking with leaders of countries who expressed great interest in JETP.

Vietnam discussed with representatives of international partners and organizations within the framework of multilateral cooperation mechanisms such as the Glasgow Financial Alliance for Net Zero (GFANZ), and Asia Zero Emission Community (AZEC).

According to the Deputy Prime Minister, the most important thing is to quickly select projects and works to be implemented to achieve substantive results.

The Deputy Prime Minister expressed his impression of the UK's achievements in the development of renewable energy sources (wind power, solar power) to replace fossil fuel energy since 2012.

These are valuable experiences for Vietnam to accelerate the process of awareness, unifying actions, and harmonizing the interests of businesses, the state, people, and the world when implementing the energy transition.

The Deputy Prime Minister expressed his impression of the UK's achievements in the development of renewable energy sources (wind power, solar power) to replace fossil fuel energy since 2012.

These are valuable experiences for Vietnam to accelerate the process of awareness, unifying actions, and harmonizing the interests of businesses, the state, people, and the world when implementing energy transition.

He asked the UK to share how to implement the rooftop solar power policy. He wanted them to introduce businesses that successfully invested in projects of wind power, solar power, smart grids, green hydrogen production, green ammonia, large capacity electricity storage systems, with the highest efficiency, and the lowest cost.

Renewable energy sources from solar power, and wind power. Photo: vneconomy

The Deputy Prime Minister also wanted the UK to share experiences in developing policies and criteria for investor selection to ensure the best overall benefits and a mechanism for buying and selling electricity directly from renewable energy sources.

Minister Graham Stuart informed us about the process and results of converting electricity sources using coal and fossil fuels in the UK from 2012 to renewable energy sources.

Accordingly, in 2012, coal power sources accounted for 40% of total electricity production. It is expected that in 2024, all coal-fired power plants in the UK will be shut down.

Meanwhile, the share of electricity from renewable energy increased from 10% (in 2010) to 40% of total electricity production in 2023 and will continue to increase even more strongly in the coming years.

The lesson learned for the UK Government is that it is necessary to build a legal framework and commit to long-term and stable policies for investors to reduce risks and capital costs.

The UK supports businesses through working groups on solar power, wind power, and job creation in green energy, with the participation and coordination of ministries and sectors.

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