Coal, Renewables to dominate Vietnam’s electricity mix by 2024

Coal and renewable energy will account for 43% and 42% of its electricity mix, respectively. 

Coal and renewable energy are expected to dominate the electricity mix of Vietnam, accounting for 43% and 42%, respectively, by 2024, the International Energy Agency (IEA) reported. 

Gas-fired generation will be contributing 14%, through liquefied natural gas-to-power projects, such as TiV ai, and Son My. 

Vietnam continues to rely on coal even as it saw strong growth in its installed solar photovoltaic capacity. 

“The country continues to rely on coal to meet a large proportion of its electricity demand – for 2021 we estimate that 45% of electricity generation came from coal,” the IEA noted. 

In 2022, the overall electricity demand in the country is expected to recover further and grow 7% annually, driven by the lifting of restrictions as well as the ramping up of vaccination rates. 

In addition, Vietnam’s urbanization and strong manufacturing industry are also expected to drive growth in electricity demand. 

This followed a decline in electricity demand seen in the first two weeks of the month of 15% compared to 2020.