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

• 2 years ago (2021-10-14)
• David Flin

Asia 847 Renewables 751 Transmission 181

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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.

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.