Vietnam power plants’ capacity to hit 146,000 MW by 2030

By Huong Dung
Tue, November 15, 2022 | 7:02 pm GMT+7

The total capacity of power plants in Vietnam will reach 121,757-145,989 megawatts by 2030, with renewable energy accounting for 18-27%, according to the Ministry of Industry and Trade's latest draft power development plan VIII.

Coal-fired power will hold the biggest portion, at 20.6-29.8% (30,127-36,327 MW), the ministry said in its proposal sent to the government on November 11. The plan (PDP VIII) is for the 2021-2030 period, with vision to 2045.

It is followed by gas-fired and LNG-fueled power, 24.9-27% (30,330-39,430 MW); hydropower, 19.8-22.5% (27,353-28,946 MW); renewable energy (excluding hydropower, including solar, wind and biomass power), 18-27% (21,871-39,486 MW); and imported power, 3.3-3.4%.

A wind turbine. Photo courtesy of Orsted.

A wind turbine. Photo courtesy of Orsted.

By 2050, the total capacity of power plants will reach 368,461-501,608 MW, of which hydropower will make up 7.2-9.7%; coal-fired power, 0%; biomass/ammoniac-fired power, 5.1-7.8%; gas-fired power, 1.6-2.1%; LNG-fueled power, 4.2-4.9%; renewable energy sources, 54.9-58.9%; and imported power, 2.2-3%.

The ministry proposed allowing investors of solar power projects that have been completed or are pending a new pricing mechanism to continue implementing and putting them into commercial operation before 2030.

It is similar for projects/project segments that already have investors or are under construction; and those already having appraised basic designs, land recovery decisions/land lease contracts/land allocation decisions, equipment purchase and sale contracts, and power purchase agreements.

This group has a total capacity of 726.02 MW. These investors must absolutely comply with legal regulations on investment, land and construction; and offer electricity prices in line with regulations.

Under the draft, the sixth made so far this year, 27 projects/project segments without investors (over 4,136 MW) and 12 others (over 1,634 MW) that already have investors, receive in-principle approval, are in the stage of making feasibility studies or investment preparations, but yet to have land recovery decisions/land lease contracts/land allocation decisions will not be carried out in the 2021-2030 period.

Earlier, Prime Minister Pham Minh Chinh had requested more thorough considerations taken for the PDP VIII to ensure national energy security and interests are put first.

PDP III is a very important plan but also a difficult issue, especially in the context of many turbulences in the world's energy industry and energy transition due to geopolitical and geo-economic issues, rapid changes and development of energy technology, and Vietnam's international commitments to combating climate change, he said in a government conclusion issued in September.

According to the PM, the plan must be feasible to ensure sufficient electricity supply for production, business and people's daily life, with no power shortage in any situations. Electricity prices must be "reasonable and not higher than other countries in the region, especially those of wind and solar power".

Comments (0)
  • Read More
Investors advised to take profits from stocks having risen sharply

Investors advised to take profits from stocks having risen sharply

Investors should maintain a balanced stock allocation in their portfolios and consider buying opportunities if the VN-Index retreats to the 1,300-1,320 point range, say market experts.

Finance - Sun, June 1, 2025 | 8:10 pm GMT+7

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Phu Nhuan Jewelry JSC (PNJ), a leading jewelry producer in Vietnam, rallied sharply ahead of the central bank’s Friday release of its gold market inspection findings.

Companies - Sun, June 1, 2025 | 1:14 pm GMT+7

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Emall Vietnam, which owns a network of 100 high-end business shoe stores under the Pierre Cardin and Oscar brands in Vietnam, has taken over the entire Pierre Cardin shoe system in Thailand.

Companies - Sun, June 1, 2025 | 10:29 am GMT+7

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.

Industries - Sun, June 1, 2025 | 8:00 am GMT+7

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Novaland, a major real estate developer in Vietnam, will simultaneously implement plans to issue bonus shares and offer ESOP (employee stock ownership plan) shares, with a total issuance rate of 5%, equivalent to more than 97 million units.

Companies - Sat, May 31, 2025 | 11:09 pm GMT+7

Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed

Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed

Billionaire Pham Nhat Vuong has registered to transfer more than 48 million Vingroup (VIC) shares to the newly-established VinSpeed that registered to build the North-South high-speed railway project.

Infrastructure - Sat, May 31, 2025 | 7:14 pm GMT+7

Two investors propose $65 mln wind power project in central Vietnam

Two investors propose $65 mln wind power project in central Vietnam

A consortium of Quang Tri Renewable Energy Investment JSC and Win Power Holding Pte Ltd, and Nam Binh Wind Power JSC have submitted an application to implement a 48-megawatt wind power plant in the central province of Quang Tri.

Energy - Sat, May 31, 2025 | 3:10 pm GMT+7

Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project

Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project

The central city of Danang is calling for investment in an LNG and LPG terminal project worth over VND5.43 trillion ($208.7 million).

Infrastructure - Sat, May 31, 2025 | 10:52 am GMT+7

Thai-backed food giant C.P. Vietnam rejects pork safety accusations 

Thai-backed food giant C.P. Vietnam rejects pork safety accusations 

C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), has dismissed social media allegations of selling diseased pork, calling them fabricated and false.

Companies - Sat, May 31, 2025 | 8:54 am GMT+7

Oman Investment Authority to expand investment fund in Vietnam

Oman Investment Authority to expand investment fund in Vietnam

Prime Minister Pham Minh Chinh has proposed Oman to enlarge the Vietnam-Oman Investment Fund (VOI) to $1 billion to better cater for the Southeast Asian country's investment needs.

Economy - Fri, May 30, 2025 | 11:26 pm GMT+7

Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta

Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta

Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).

Industries - Fri, May 30, 2025 | 4:44 pm GMT+7

76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC

76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC

Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.

Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7

Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export

Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export

After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.

Companies - Fri, May 30, 2025 | 2:37 pm GMT+7

AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal

AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal

TTC AgriS (Thanh Thanh Cong-Bien Hoa JSC or AgriS) and International Finance Corporation (IFC) - a member of the World Bank Group - has signed an MoU to strengthen sustainable development governance in alignment with global standards.

Companies - Fri, May 30, 2025 | 2:30 pm GMT+7

Vietnam's stock market attractively priced: Finnish fund PYN Elite

Vietnam's stock market attractively priced: Finnish fund PYN Elite

Vietnam’s stock market is attractively priced, with a price-to-sales (P/S) ratio of 1.3, said Petri Deryng, portfolio manager at Finnish investment fund PYN Elite.

Finance - Fri, May 30, 2025 | 2:09 pm GMT+7

S Korea's SK Group eyes 3 LNG power projects in Vietnam: chairman

S Korea's SK Group eyes 3 LNG power projects in Vietnam: chairman

SK Group, South Korea’s second-largest chaebol, is exploring several LNG-fueled power projects in Vietnam, including three proposed to be included in the country's green growth project portfolio, said chairman Tae-Won Chey.

Energy - Fri, May 30, 2025 | 1:37 pm GMT+7