Vietnam allows big companies to buy clean energy directly to meet their climate targets

Associated Press

HANOI, Vietnam (AP) — Vietnam has passed a decree radically loosening the Communist Party-ruled state’s control on how electricity is sold to private companies. This means companies that need a lot of energy can buy clean energy directly from solar or wind farms. It’s an important change for companies like Samsung, Vietnam’s largest foreign director investor, enabling them to show they are using clean energy in line with their commitments to stop using fossil fuels. Analysts say Vietnam is at the forefront of this shift as South and Southeast Asian governments adjust their regulations to facilitate moves to net-zero carbon use.