Vietnam has phased in various incentives to spark renewable investments, including attractive prices paid by the state for privately produced solar and wind power, as well as the right for private companies to sell power directly to consumers.
Coal-fired plants remain the biggest power source as annual electricity demand rises 10% in the fast-growing economy, according to the government.
To meet demand, the country planned to have 60 gigawatts of power capacity in 2020 and 96 GW by 2025, but the World Bank said in January it had reached just 47 GW.
Vietnam considers itself one of the five countries under the greatest threat from climate change, due to its long coastline and exposure to monsoons, saline intrusion and erosion. The country hopes its goal of cutting emissions will help reduce the threat.