Vietnam approves major national power development plan
Investors - MAY 24, 2023

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Vietnam approves major national power development plan

by Kali Persall

Vietnam’s deputy prime minister, Tran Hong Ha, has approved Vietnam’s eighth national power development plan (PDP8), which will more than double Vietnam's power-generation capacity from 69 gigawatts in 2020 to 150 gigawatts by 2030.

Under PDP8, renewable energy will be a major focus, accounting for nearly 50 percent of the energy mix by 2030, with 19.5 percent coming from hydropower, 18.5 percent coming from wind and 8.5 percent coming from solar. The renewable energy mix could further increase to 66.5 percent if the Vietnam Just Energy Transition Partnership (JTEP) pledges are fully implemented, according to Mayer Brown, a global services provider consisting of associated legal practices.

Offshore wind capacity by 2030 has been slightly reduced to 6 gigawatts, compared with 7 gigawatts in previous drafts of PDP8, but will increase to 70 gigawatts by 2050. In addition, gas (both domestic and imported LNG), which is considered to be a complementary transition fuel f

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