Vietnam Approves National Electricity Development Plan up to 2030

On May 15, 2023, the Government of Vietnam has promulgated Prime Minister’s Decision No. 500/QD-TTg on the National Electricity Development Plan for 2021-2030 with a Vision to 2050 (8th National Power Development Plan). It establishes a master plan for the development of power supply and transmission networks of 200kV and higher, renewable energy industries & services, and new energy sources (including grid connections with neighboring countries) in the country. According to the plan, power source of solar and wind power will account for more than half of the total in 2050, while coal-fired power generation will be completely eliminated.

The main targets of the plan are shown as below.

Targets	Target Details
Ensuring National Energy Security	Secure sufficient energy supply to achieve the economic and social development goals of an average annual GDP growth of 7.0% in 2021~2030, and 6.5%~7.5% in 2031~2050. Specifically: Increase electricity sales volume to approx. 335 billion kWh by 2025, 505 billion kWh by 2030, and 1,114~1,255 billion kWh by 2050 Increase total volume of generated & imported electricity to approx. 378 billion kWh by 2025, 567 billion kWh by 2030, and 1,224~1379 billion kWh by 2050 Increase total output of national power system to approx. 59,318MW by 2025, 95,512MW by 2030, and 185,187~208,555MW by 2050 Become one of top 4 countries in Southeast Asia for electricity supply reliability and one of top 3 countries for electricity usage by 2030. Install self-sufficient rooftop solar panels in 50% of offices and residential buildings. However, no electricity shall be sold to the National Power System.
Fair Energy Transition	Increase the share of power sources derived from renewable energy to 30.9~39.2% by 2030, and 67.5~71.5% by 2050. Reduce greenhouse gas emissions from power generation to approx. 204~254 million tons by 2030, and 27~31 million tons by 2050.
Development of Industrial Ecosystems and Renewable Energy Services	Establish a renewable energy industrial service center between two regions, including generation, transmission and use of electricity. Create a renewable energy industrial ecosystem, especially in high-potential regions in the North, South, and South-Central. Promote renewable energy generation and production of new energy to be exported. Achieve an output of approx. 5,000~10,000MW for export by 2050.

To achieve the targets above, the plan identifies several measures, including the development of power supply mix and power grid, connection of power grid with regional countries, power supply in rural areas, industrial ecology, and renewable energy services. The following chart shows the composition of Vietnam’s total power generation capacity in 2030 and 2050. Along with expanding development of renewable energy sources such as wind, hydro and solar power, the plan calls for reducing coal-fired power generation and its total elimination by 2050.

Additionally, the investments planned for power generation capacity and transmission grid are as follows:

7 billion USD of total investment is expected during 2021~2030.
In 2031~2050, total investment is expected to be approx. 399~523 billion USD, of which investment in power generation is estimated to be approx. 364~511 billion USD, while investment in power grid will be approx. 35~39 billion USD, of which its details will be further addressed in the next plan.

Download this Plan at:
https://datafiles.chinhphu.vn/cpp/files/vbpq/2020/04/500.signed.pdf

Vietnam Approves National Electricity Development Plan up to 2030

Keep update

East Asia

Southeast Asia

South Asia

West Asia (Middle East)

Oceania

Others

Regulations for product

Product categories

Main theme

Regulations for Factory

Main theme