On 22 February 2021, the Ministry of Industry and Trade of Vietnam (MOIT) released a draft proposal for Vietnam’s national power development plan for the period of 2021 - 2030, with a vision to 2045 (Power Development Plan VIII or PDP8) for public consultation.
MOIT contemplates in the draft PDP8 that Vietnam's total installed capacity of power projects will be 137.67 GW by 2030 with the national energy mix to include 30% renewable energy (18-19GW wind power and 19-20GW solar power), 21-23% gas-fired power projects (28-33GW), 27% coal-fired power projects.
Vietnam will require USD128.3bn investments in the power sector for the period of 2021 - 2030, of them USD95.4bn in power generation (approximately USD9.5bn/year) and USD32.9bn in power transmission (approximately USD3.3bn/year) constituting a 74/26 split. Noting that an average margin production cost for power generation is estimated to be UScents 8.8/kWh for the period of 2021 - 2030.
Further details of this legal update can be found here.
Hoang Le Hang
Business Development Manager
Tel: +84 24 3971 0888
Email: hang.hoang@lexcommvn.com
