Vietnam OKs revised national power development plan

Around $136.3b will be invested in power infrastructure from 2026 to 2030.

The Vietnamese government has approved the adjustments to its national power development plan for the 2021–2030 period, with a vision to 2050.

“The key objective is to ensure sufficient electricity for national socio-economic development toward an average GDP growth rate of around 10% per annum during 2026–2030, and approximately 7.5% per annum for 2031–2050,” Vietnam Electricity said in a statement.

Vietnam eyes investing $136.3b in 2026 to 2030 for power generation and transmission infrastructure. For the periods 2031 to 2035 and 2036 to 2050, projected investments are $130b and $569.1b, respectively.

By 2030, the country targets commercial output of between 500.4 to 557.8 billion kilowatt-hours (kWh), power generation and imports between 560.4 to 624.6 billion kWh, and peak power capacity between 89,655 to 99,934 megawatts (MW).

In five years, the country also aims for 50% of office buildings and 50% of households to use self-generated rooftop solar power for on-site consumption. 

At the same time, Vietnam eyes 28% to 36% share of renewable energy generation, further increasing this to as much as 75% by 2050. This will be supported by the establishment of smart grid.

Vietnam also hopes to export renewable and new energy sources to Singapore, Malaysia, and other regional partners. By 2035, electricity exports are expected to reach a capacity of 5,000 MW to 10,000 MW.

By 2030, the government aims to build two interregional renewable energy industry and service centres.