Viet Nam needs US$135 billion for power development by 2030

Viet Nam needs around US$134.7 billion to develop power plants and grid projects by the end of this decade, the Ministry of Industry and Trade has estimated.

Vietnamese power grid seeks nearly US$135 billion investment by 2030 - Ảnh 1.

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In the 2021-2025 period, the Southeast Asian country needs some US$57.1 billion, including US$48.1 billion  for power generation and US$9 billion for power transmission, according to the ministry's draft plan to implement the 8th National Power Development Plan.

In the 2026-2030 period, the nation needs around US$77.6 billion, including US$71.7 billion for power generation and US$5.9 billion for transmission grids.

The ministry also estimated that electricity import from Laos would increase to around 5,000 MW or even 8,000 MW.

The 8th National Power Development Plan, approved by the Government last May, aims to formulate the energy industry ecosystem based on renewable and new energy.

It targets to ensure adequate electricity supply for the domestic demand, meeting the national socio-economic development goals with average GDP growth of approximately 7%/year in the 2021 – 2030 period and about 6.5 – 7.5%/year in the 2031 – 2050 period:

Commercial electricity is expected to reach about 335.0 billion kWh by 2025; about 505.2 billion kWh by 2030; about 1,114.1 – 1,254.6 billion kWh by 2050.

Domestic electricity generation and electricity imports are projected to reach about 378.3 billion kWh by 2025; about 567.0 billion kWh by 2030; about 1,224.3 – 1,378.7 billion kWh by 2050./.

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