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Vietnam - Power Development Master Plan 8 - what you must know:
The document summarizes key points from Vietnam's National Power Development Planning VIII (PDP 8), which aims to increase renewable energy production. By 2030, renewable sources are targeted to account for 32.5% of total capacity and by 2045, 43%. Priority is given to developing wind and solar power. Total investment needed is estimated at $128.3 billion by 2030 and $192.3 billion by 2045. The PDP 8 also provides targets for increasing capacity of different power sources such as wind, solar, hydropower, and gas through 2045.
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Vietnam - Power Development Master Plan 8 - what you must know:
- 1. Vietnam - PowerDevelopment Master Plan 8 - what you must know: In late March 2021, the very first draft of the Prime Minister’s Decision on the Approval of National Power Development Planning VIII (“Draft PM Decision”) has been published through unofficial sources (i.e. not through MOIT’s website). This means the final draft PM Decision may be amended and updated, nevertheless this is very likely issued by a contact of MOIT. The Draft PM Decision states clearly that priority is given to the development of renewable energy sources for electricity production. In particular, the Draft aims to increase the rate of electricity produced from renewable energy sources (not including hydroelectric sources greater than 30 MW, storage hydroelectricity) to about 32% in 2030 and 43% in 2045. By 2030, it is estimated that the total capacity of all power plants will be about 138,000 MW, of which: large, medium and pumped hydropower accounts for 15.2%; coal thermal power 27.1%; thermo-gas (including LNG) 19.9%; renewable energy sources (including small hydroelectricity, wind power, solar power, biomass power, ...) accounts for 32.5%; electricity import is about 4.1% Electricity produced and imported to reach 551 billion kWh, of which: large, medium and storage hydropower accounts for 13.5%; coal thermal power is about 41.15%; gas thermal power (including LNG) 22.58%; renewable energy sources (including wind power, solar power, biomass power ...) 18.73%; electricity import 3.83%. While the PDP 8 is being finalized, the Draft PM instructs investors and relevant government agencies to continue the implementation of renewable energy projects (wind power, solar power) that were approved in the Revised Power Development Planning 7 and other specialized electricity planning. Notable provisions of the Draft: Investment Capital: The total investment capital required to implement the PDP 8 from 2021-2030 is about USD 128.3 billion, of which USD 95.4 billion to be used for power source development while USD 32.9 billion to be invested in grid construction and management. The total investment capital is calculated to reach USD 192.3 billion by 2045.
- 2. Wind power: Raise thetotal capacity of onshore wind power projects to about 18,010 MW-23,080 MW in 2030 and about 60,610-76,680 MW by 2045. For offshore wind power projects, the target capacity is 5000 MW or more by 2030 and 21,000-36,000 MW by 2045. Total electricity produced from wind power projects is expected to account for 7.9% in 2025, about 8.1% in 2030 and about 19.2% in 2045. Solar energy: Encourage the development of solar power sources, including onshore, water surface as well as rooftop systems. The total power capacity to be about 17,240 MW in 2025, roughly 18,140 MW in 2030 and 40,090 MW by 2040. Electricity produced from solar power is expected to reach around 7.3%. In 2025, about 5.3% in 2030 and 8.9% in 2045. Hydropower sources: The total capacity of small hydropower sources is targeted to reach 4,800 MW in 2025, about 5,000 MW in 2030 and nearly 6,000 MW in 2045. Thermal power: For thermal power plants using domestically exploited gas and liquefied natural gas (LNG): By 2030, the total capacity will reach 27,000 MW, production to hit 124 billion kWh, accounting for nearly 23% of the total electricity output. In 2045, the total capacity to reach 51,000 MW while production achieves 253 billion kWh, accounting for nearly 26% of the total electricity output. The Government also promote the development of port storage systems, infrastructure for LNG import in regions across the country to fuel power projects using LNG. List of projects of national importance and prioritized for development under the Draft PM Decision:
- 3. No. Project NameCapacity (MW) Appointed investor Fuel 2021-2025 period 1 Quang Ninh Combined Gas Cycle Turbine 1500 LNG 2 Hai Phong I Combined Gas Cycle Turbine (Phase I) 1500 LNG 3 Ca Na Combined Gas Cycle Turbine (Phase I) 1500 LNG 4 Nhon Trach 3 & 4 Combined Gas Cycle Turbine 1500 PVPower LNG 5 Hiep Phuoc Combined Gas Cycle Turbine (Phase I) 1200 Hiep Phuoc Electricity LLC LNG 6 Long An I Combined Gas Cycle Turbine (Phase I) 750 LNG 7 Bac Lieu Combined Gas Cycle Turbine (Phase I) 1600 Delta Offshore Energy Pte. Ltd. LNG 8 Long Son I Combined Gas Cycle Turbine 750 LNG 9 O Mon I (transferring Lo B gas) 660 EVN Domestically exploited gas 10 O Mon III Combined Gas Cycle Turbine (Lo B gas) 1050 Domestically exploited gas 11 O Mon IV Combined Gas Cycle Turbine (Lo B gas) 1050 EVN Domestically exploited gas 12 O Mon II Combined Gas Cycle Turbine (Lo B gas) 1050 Trading Construction Works Organization and Marubeni Domestically exploited gas 13 An Khanh – Bac Giang Thermal Power 650 An Khanh – Bac Giang Thermal Power JSC Coal 14 Na Duong II Thermal Power 110 TKV Coal 15 Thai Binh II Thermal Power 1200 PVN Coal 16 Hai Ha Thermal Power (Phase I) 300 IPP (within KCN) Coal 17 Nghi Son II Thermal Power 1200 Marubeni Coal 18 Vung Ang II Thermal Power 1200 Vung Ang II Thermal Power LLC Coal 19 Quang Trach I Thermal Power 1200 EVN Coal
- 4. 20 Cong ThanhThermal Power 600 Cong Thanh Thermal Power JSC Coal 21 Van Phong Thermal Power 1320 Sumitomo Coal 22 Duyen Hai II Thermal Power 1320 Janakusa SDN BHD Coal 23 Song Hau II Thermal Power 2120 TOYO Ink Group Coal 2026-2030 period 1 Quang Ninh 2 Combined Gas Cycle Turbine 1500 LNG 2 Hai Phong II Combined Gas Cycle Turbine 1500 LNG 3 Thai Binh Combined Gas Cycle Turbine (Phase I) 1500 LNG 4 Nghi Son Combined Gas Cycle Turbine (Phase I) 2400 LNG 5 Chan May Combined Gas Cycle Turbine (Phase I) 1600 LNG 6 Ca Na Combined Gas Cycle Turbine (Phase II) 3000 LNG 7 Khanh Hoa Combined Gas Cycle Turbine (Phase I) 1500 LNG 8 Phu My 3.1 Combined Gas Cycle Turbine 850 LNG 9 Son My II Combined Gas Cycle Turbine 2250 AES Group (USA) LNG 10 Son My 1 Combined Gas Cycle Turbine 2250 EDF, Kyushu, Sojitz. Pacific Group JSC LNG 11 Ke Ga Combined Gas Cycle Turbine (Phase I) 1500 LNG 12 Ca Mau Combined Gas Cycle Turbine (Phase I) 1500 LNG 13 Long An I Combined Gas Cycle Turbine (Phase II) 750 LNG 14 Bac Lieu Combined Gas Cycle Turbine (Phase II) 1600 Delta Offshore Energy Pte. Ltd. LNG 15 Long Son 2 Combined Gas Cycle Turbine 750 LNG 16 Hai Ha Thermal Power (Phase 2) 1800 IPP (within KCN) Coal
- 5. 17 Hai LangCombined Gas Cycle Turbine (Phase I) 1500 Domestically exploited gas 18 Mien Trung I Combined Gas Cycle Turbine (CVX gas) 750 PVN LNG 19 Mien Trung II Combined Gas Cycle Turbine (CVX gas) 750 PVN LNG 20 Dung Quat I Combined Gas Cycle Turbine (CVX gas) 750 EVN LNG 21 Dung Quat II Combined Gas Cycle Turbine (CVX gas) 750 Sembcorp Utilities Pte. Ltd. LNG 22 Dung Quat III Combined Gas Cycle Turbine (CVX gas) 750 EVN LNG 23 Quang Tri Combined Gas Cycle Turbine (Bao Vang gas) 340 Gazprom International LNG 24 Pha Lai 3 Thermal Power 660 Coal 25 Bao Dai Coal Thermal Power 600 Coal 26 Nam Dinh I Thermal Power 1200 Taekwang Power Holdings – ACWA Power Coal 27 Quang Trach II Thermal Power 1200 EVN Coal 28 Quynh Lap I Thermal Power 1200 Coal 29 Quynh Lap II Thermal Power 1200 Coal 30 Quang Tri I Thermal Power 1320 EGATi Coal 31 Vinh Tan III Thermal Power 1980 VTEC Coal 32 Long Phu II Thermal Power 1320 Coal 33 Hiep Phuoc Combined Gas Cycle Turbine (Phase II) 1500 Hiep Phuoc Electricity LLC LNG 2031-2035 period 1 Ca Na Combined Gas Cycle Turbine (Phase IIII) 1500 LNG 2 Hai Lang 1 Combined Gas Cycle Turbine 1500 Domestically exploited gas/LNG 3 Long An II Combined Gas Cycle Turbine 1500 LNG 4 Long Son 3,4 Combined Gas Cycle Turbine 1500 LNG 5 Thai Binh Combined Gas Cycle Turbine (Phase II) 1500 LNG
- 6. 6 Hai PhongI Combined Gas Cycle Turbine (Phase II) 1500 LNG 7 Nghi Son Combined Gas Cycle Turbine (Phase 2) 2400 LNG 8 Chan May Combined Gas Cycle Turbine (Phase 2) 2400 LNG 9 Khanh Hoa Combined Gas Cycle Turbine (Phase 2) 1500 LNG 10 Ca Mau Combined Gas Cycle Turbine (Phase 2) 1500 LNG 11 Vung Ang Combined Gas Cycle Turbine (Phase 1) 1500 LNG 12 Formusa HT 2 Thermal Power 650 Coal 13 Long Phu 1 Thermal Power 1200 PVN Coal 14 Hai Lang Combined Gas Cycle Turbine (Phase 2) 1500 Domestically exploited gas/LNG 2036-2040 period 1 Nghi Son Combined Gas Cycle Turbine (Phase 3) 2400 LNG 2 Khanh Hoa Combined Gas Cycle Turbine (Phase 3) 1500 LNG 3 Ke Ga Combined Gas Cycle Turbine (Phase 2) 1500 LNG 4 Vung Ang Combined Gas Cycle Turbine (Phase 2) 1500 LNG 5 Long Phu III Thermal Power 1800 Coal 2041-2045 period 1 Thai Binh Combined Gas Cycle Turbine (Phase 3) 1500 LNG 2 Nghi Son Combined Gas Cycle Turbine (Phase 4) 2400 LNG