The International Energy Agency (IEA) recently released a forecast that, for the first time, global electricity generation from renewable sources will surpass coal-fired power by 2025. According to the IEA, global electricity demand is expected to increase by 4% this year and the next. 

Hydropower, solar, wind, and other renewable sources will supply 35% of global electricity by 2025. Solar power alone is anticipated to meet 50% of the demand growth in 2025, with wind energy contributing an additional 25%. 

The IEA’s Electricity Market Report 2023 noted that renewables' share of global electricity production is expected to rise from 29% in 2022 to 355% in 2025, while coal and gas-fired power generation will decline. 

Fatih Birol, the Executive Director of the IEA, stated: “The robust growth from wind, solar, and other renewable sources is gradually but surely pushing fossil fuels out of global electricity generation. Ten years ago, 70% of global electricity came from fossil fuels. This year, after a decade, it’s around 60%. By 2023, even with current policies, the share of fossil fuels is set to drop to 40%. This is a major shift in electricity production, phasing out fossil fuels from the electricity system–slow but steady.” 

The IEA also highlighted that, with the rapid development of renewable energy, CO2 emissions from global power production are expected to continue decreasing in the coming years, indicating progress toward emission reduction goals in the energy sector. 

With a deep understanding of the urgent need to address the depletion of natural resources and escalating climate sources. Since 2015, NSN Construction & Engineering has prioritized investment in sustainable solutions, including renewable energy fields such as solar power, wind energy, and waste-to-energy initiatives. 

NSN has achieved notable milestones in renewable energy construction, such as: 

• Successfully constructing the first solar power plant connected to the national grid–TTC Phong Dien. 

• Developing the first rooftop solar project in Northern Vietnam exceeding 1 MWp capacity– Denso Vietnam factory. 

 As of December 31, 2023, NSN’s renewable energy capacity reached 400 MWp through solar farms and rooftop solar systems. In 2023, this capacity generated 511,000,000 kWh, equivalent to a reduction of over 361,000 tons of carbon emissions. 

 NSN continues to assert its leadership in executing renewable energy projects in Vietnam, dedicated to providing the community with advanced, efficient, and sustainable energy solutions.