DECISION APPROVAL OF NATIONAL POWER DEVELOPMENT PLAN FOR 2021 - 2030 PERIOD, WITH A VISION TO 2050

Summary

Vietnam's 8th National Power Development Plan (NPDP 8), approved in May 2023, outlines the nation's energy strategy for 2021-2030 with a vision to 2050, focusing on ensuring energy security and a green transition. The total investment for power sources and transmission is projected at US$134.7 billion for 2021-2030, increasing to US$399.2-523.1 billion for 2031-2050. Key targets include achieving a renewable energy share of 30.9-39.2% by 2030 and 67.7-71.5% by 2050, with power generation greenhouse gas emissions peaking at no more than 170 million tons by 2030 under international commitments. By 2030, total power plant capacity for domestic demand will reach 150,489 MW, featuring 21,880 MW of onshore wind, 6,000 MW of offshore wind, and 12,836 MW of solar power, with coal-fired power being completely phased out by 2050. Commercial electricity demand is expected to reach 505.2 billion kWh by 2030.

Key Facts

Source Document

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