Vietnam plans to invest $134bn in power development

Vietnam’s eighth National Electricity Development Plan expects total investment of $113.3 billion to $134.7 billion from 2021 to 2030. Of this, $96.6 billion to $119.8 billion (87-88.9 percent) is for power generation and $14.6 billion to $14.9 billion (11.1-12.9 percent) for transmission lines.

According to the plan, investment from 2021 to 2025 would be $57.1 billion, of which $48.1 billion would be for generation and $9.0 billion for transmission lines, and from 2026 to 2030 would be $77.6 billion, of which $71.7 billion would be for generation and $5.9 billion for transmission lines.

For large-scale coal power projects, where there is a risk of delay due to difficulties in investment preparation and unclear operations, the Ministry of Industry and Trade will work with project investors to clarify whether the project will continue or be terminated in accordance with the law.

For projects that play an important role in guaranteeing electricity security, the implementation progress and investment will be reviewed on a quarterly or annual basis, so that an accurate assessment of the national electricity supply situation up to 2030 can be made annually, and solutions will be proposed in case of delays.

Offshore wind projects will be distributed by region. Installed offshore wind capacity will be determined during project implementation. The size and location of projects will be determined by each region based on factors such as the cost of power generation, the capacity of the national grid to be used, the cost of transmission, and the overall impact on local socio-economic development.

The scale of solar power projects will be calculated based on factors such as implementation feasibility, actual implementation speed, local utilization capacity and production costs. It is planned that by 2030, the total capacity of rooftop solar power projects in industrial zones will reach 2,600 megawatts; and that 50 percent of office buildings and residential households will be covered by captive solar power.

Verified by MonsterInsights