Vietnam plans to generate 50% of power from renewable sources by 2030
Energy-thirsty Vietnam expects renewable energy to make up 50.3% of the total capacity generated by 2030, as outlined in the country’s latest power development plan.
A floating solar plant in the south-central province of Binh Thuan. Photo courtesy of Vietnam News Agency.
Vietnam’s Prime Minister Pham Minh Chinh has approved the plan for 2030 with a vision to 2050, known as PDP VIII, the Ministry of Industry and Trade said late on Monday.
The plan will ensure energy security for the fast-expanding country based on forecast annual GDP growth of 7% until 2030, the ministry said.
PDP VIII says Vietnam needs $134.7 billion of funding to develop new power plants and grids between 2021 and 2030. The 2031-2050 period will require $399.2-523.1 billion of funding, with $364.4-511.2 billion for generation and $34.8-38.6 billion for transmission.
Among power generation sources, coal will account for 20.5% by 2030, down from almost 29% in 2020. Gas will make up 21.8% by 2030, up from 10.2% in 2020.
Renewable sources (including hydroelectricity, solar and wind power, and biomass) will account for 50.3% by 2030, but contributions from hydroelectricity alone will drop to 20% from 30% in 2020.
PDP VIII also includes generating green energy for export, with a target of 5-10 gigawatts (GW) by 2030.
The ministry said that by 2030, half of office buildings and homes in the country will be powered by rooftop solar panels. However, this source will not be connected to the national grid.
Vietnam is seeking to reach carbon neutrality by 2050. The new plan says there will be no coal-fired plant construction after 2030, step by step mixing biomass, ammonia; prioritizing gas and gradually shifting to mixed fuel combustion towards complete combustion of hydrogen and ammonia in the long term.
Notably, there will not be new LNG-to-power projects after 2035.
By 2050
Coal will only account for 4.5% of the total capacity generated by 2050. And then coal will no longer be used for electricity production.
Gas sources will increase to 40.3 GW by 2035 with no further developments after that. Gas power will be cut to 7% by 2050.
PDP VIII expects renewable energy sources (including hydroelectricity) to generate up to 400 GW by 2050, equal to about 70% of total power generation capacity.
- Related News
- Read More
Coteccons dismisses concerns over executive departure, competition from Vingroup's arm
Vietnam's leading contractor Coteccons (HoSE: CTD) said a recent change in senior management was unrelated to the company's share price performance, as executives highlighted record order backlog and accelerating earnings growth amid a recovery in Vietnam's construction industry.
Companies - Tue, June 16, 2026 | 5:26 pm GMT+7
VinaCapital lists 2 strategic ETFs as Vietnam fund market broadens
Vietnam’s leading investment management firm VinaCapital has listed two strategic exchange-traded funds (ETFs) on the Ho Chi Minh City Stock Exchange, expanding investment options for investors seeking targeted exposure to Vietnam's long-term economic growth themes.
Finance - Tue, June 16, 2026 | 4:39 pm GMT+7
Oil & gas industry gives Vietnam edge in offshore wind supply chain: Global Wind Energy Council CEO
Vietnam is well positioned to play a significant role in the offshore wind power supply chain thanks to its established manufacturing base and expertise developed through its oil & gas industry and existing wind power projects, according to Ben Backwell, CEO of the Global Wind Energy Council (GWEC).
Energy - Tue, June 16, 2026 | 4:31 pm GMT+7
Vietnam banking, retail, oil stocks well placed for market recovery: brokerages
Vietnamese banking, retail and oil-gas stocks are among the sectors best positioned to benefit from a potential market recovery after months of pressure from geopolitical tensions and macroeconomic headwinds, according to local brokerages.
Finance - Tue, June 16, 2026 | 1:04 pm GMT+7
Petrovietnam, Huawei discuss cooperation in digital transformation, AI, energy technologies
State-owned Petrovietnam and China's Huawei Technologies discussed potential cooperation in digital transformation, artificial intelligence and digital energy infrastructure during a meeting last week, as the Vietnamese giant seeks to modernize its operations and expand into new energy sectors.
Companies - Tue, June 16, 2026 | 12:20 pm GMT+7
Over 38% of Vietnamese businesses still face informal costs despite reforms: survey
More than 38% of businesses in Vietnam still pay informal charges, highlighting persistent gaps between regulatory reforms and their implementation, according to a survey by the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Tue, June 16, 2026 | 11:26 am GMT+7
China ready to expand railway, power connectivity with Vietnam: PM
China is prepared to strengthen railway cooperation and enhance power grid connectivity with Vietnam, thereby expanding logistics corridors, trade links, and energy cooperation, said Chinese Premier Li Qiang during a phone talk with his Vietnamese counterpart Le Minh Hung on Monday.
Economy - Tue, June 16, 2026 | 8:52 am GMT+7
VN-Index approaches 1,800-point mark as easing Middle East tensions lift sentiment
Vietnam's benchmark VN-Index edged closer to the 1,800-point threshold on Monday as improving sentiment over easing tensions in the Middle East boosted risk appetite, driving gains in brokerage stocks while oil and Vingroup-related stocks weighed on the market.
Finance - Mon, June 15, 2026 | 8:34 pm GMT+7
Japanese products dominate Vietnamese consumer trust, but younger shoppers rewriting rules
Japanese products continue to enjoy the highest level of trust among Vietnamese consumers, reinforcing the country’s position as the benchmark for quality and reliability in one of Southeast Asia’s fastest-growing consumer markets, according to a new survey by market research firm Q&Me.
Economy - Mon, June 15, 2026 | 6:48 pm GMT+7
VinEnergo ramps up renewable energy push with 4 new subsidiaries
VinEnergo, the energy arm of Vietnamese conglomerate Vingroup, has accelerated its expansion into the power sector, establishing four new subsidiaries within a week as it builds a growing portfolio of renewable energy and infrastructure projects across Vietnam.
Companies - Mon, June 15, 2026 | 4:52 pm GMT+7
Thaco deepens ties with Hyundai Rotem to localize railway manufacturing in Vietnam
Vietnamese conglomerate Thaco and South Korea’s Hyundai Rotem have signed a detailed technology transfer and localization agreement for railway rolling stock production.
Industries - Mon, June 15, 2026 | 4:01 pm GMT+7
UOB Vietnam appoints Pham Hong Hai as deputy country CEO
Singapore's United Overseas Bank (Vietnam) Limited on Monday appointed Pham Hong Hai, former CEO of HSBC Vietnam and later Vietnamese bank OCB, as deputy country CEO, effective immediately.
Banking - Mon, June 15, 2026 | 2:26 pm GMT+7
Shinhan Bank Vietnam launches AI translation desk, strengthening customer experience, digital innovation
Shinhan Bank Vietnam has officially launched AI Translation Desk, an AI-powered interpretation solution designed to help foreign customers communicate more easily while using banking services in Vietnam.
Banking - Mon, June 15, 2026 | 12:03 pm GMT+7
FDI listings a missing piece in Vietnam's stock market development
As Vietnam's stock market moves closer to its long-awaited upgrade to secondary emerging market status and seeks to attract higher-quality capital, allowing more foreign-invested companies to list on domestic exchanges could broaden the pool of investable assets and support the next phase of capital market development.
Finance - Mon, June 15, 2026 | 11:14 am GMT+7
Chinese robot 'eyes' manufacturer builds 10-hectare factory in northern Vietnam
Orbbec Inc., a Chinese company specializing in 3D vision sensors and robotic hardware, is building an over-10-hectare manufacturing center in the northern province of Bac Ninh to serve international markets.
Industries - Mon, June 15, 2026 | 8:00 am GMT+7
Long Thanh airport project faces shortage of 2,000 workers
The Long Thanh International Airport project in the southern province of Dong Nai is still short nearly 2,000 workers compared to actual requirements during its final acceleration phase.
Infrastructure - Sun, June 14, 2026 | 6:08 pm GMT+7
