The Government of Vietnam will require annual investment between USD8 billion and USD14 billion till 2030 to develop new power plants and expand the country’s grid capacity, Out of the total amount required, 75 per cent will be used to finance the construction of new power plants, with priority given to renewable energy (RE) facilities. The remaining 25 per cent will be used to finance grid expansion. The country is currently seeking private investments for its upcoming power projects.
Under the latest draft of the master power development plan, the Government of Vietnam plans to increase the total installed power generation capacity to 121 GW by 2030 from 76.6 GW at the end of 2021. This will be further increased to 284 GW by 2045. The government has also announced that no new coal projects will be approved.