Implementation strategy for new power development plan approved

Decision 262 includes a status update on the 13 imported liquefied natural gas-fired (LNG) power projects and 10 domestic gas-fired power projects which are earmarked for completion by 2030 under the PDP8 to achieve a total imported LNG capacity of 22,400MW and a total domestic gas capacity of 14,930MW.

The decision also sets out that the country's total offshore wind power capacity will be expected to be 6,000MW by 2030, with onshore wind power at 21,880MW, biomass power at 1,088MW, waste-to-energy power at 1,182MW, additional rooftop solar power at 2,600MW, and battery storage at 300MW.

Vietnam is expected to develop 300MW of flexible power sources, and priority has been given to areas with potential capacity shortages.

Vietnam also plans to import about 5,000MW of electricity from Laos, which could increase to 8,000MW subject to improvements and reasonable electricity prices.

Meanwhile, the central and southern regions hold the potential to export power overseas ranging from 5,000MW to 10,000MW when feasible projects emerge.

Renewable energy will be used to produce new types of energy such as green hydrogen and green ammonia for the domestic market and exports, with a planned capacity of 5,000MW by 2030.

Many rural, mountainous, and island areas of the country remain off-grid, and Decision 262 is part of the government’s plan to extend power supply to these historically under-served regions. The aim is to connect over 910,000 homes in almost 15,000 villages to the national grid or renewable energy projects.

Under the implementation plan, Vietnam will build two interregional industrial and service centres for renewable energy in the northern and central-southern regions. The move aims to develop an industrial ecosystem for renewable energy services.

The country also supplies power to almost 2,500 small- and medium-sized water pumping stations across 13 Mekong Delta cities and provinces.

Source: Vietnam Investment Review