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Vietnam to invest $10-11.5 billion annually on power sector

  • a month ago (2021-10-14)
  • David Flin
Asia 687 Renewables 688 Transmission 116

Vietnam plans to invest $10-11.5 billion a year between 2021 and 2030 on electricity generation and transmission, according to the latest draft Power Development Master Plan VIII.

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The recent draft from the Ministry of Industry and Trade estimates that the country will need $100-116 billion to develop power generation and transmission over a ten-year period. It said that, on average, $8.57-10.15 billion a year would be needed for power generation, and $1.36-1.44 billion a year for grid development.

The plan aims to incentivise investment into renewable projects. It aims to generate 11.9-13.4 per cent of its total electricity output from renewables, mainly solar and wind, by 2030, and up to 26.5-28.4 per cent by 2045.

Vietnam will stop implementing some coal-fired power projects, but it will continue to operate and supply existing coal-fired power stations.