Both Vietnam and Cambodia have announced major clean energy projects as preludes to COP28 as the conference, held in Dubai, kicks off. On November 24, Vietnam announced that it would unveil the details of its spending plan for US$15.5 for the country’s clean energy transition at the upcoming conference. The funding has been provided by the Just Energy Transition Partnership (JETP) in exchange for commitments to scale Vietnam’s renewables in its power mix to 47% by 2030. Earlier this year, Vietnam released a national energy plan that called for a drastic shift away from heavily polluting coal and pledges that no new coal-fired plants will be built after 2030.
On November 30, Cambodian Prime Minister Hun Manet also upheld clean energy commitments, announcing the country had abandoned a US$1.5 billion coal-fired power project in a protected reserve, replacing the project with plans to build a liquid natural gas (LNG) terminal. The planned coal plant in Botum Sakor had been criticized by environmentalists and some residents for encroaching on some of Cambodia’s densest forest areas, risking the disruption of livelihoods and polluting the reserve, home to dozens of endangered species, with coal dust. The newly announced LNG terminal, likely to be a land-based facility, would be Cambodia’s first and would make it a new import market in South-east Asia. Vietnam and the Philippines began their first shipments in 2023. Cambodia is seeking to lift its share of clean energy generation capacity to 70% by 2030 from 52% in 2022 by building new solar plants, wind farms and hydro projects.
Join the Council to continue reading this article
Enhance your business impact in Southeast Asia: Become a member of the US-ASEAN Business Council and tap into a network of possibilities.
Free Related Articles
