Vietnam approves amended National Power Development Plan VIII

Vietnam has officially approved the amended National Power Development Plan VIII (PDP VIII) for the 2021-2030 period, with a long-term vision extending to 2050. This revision, under Decision 768/QD-TTg, replaces the previous version (Decision 500/QD-TTg) and responds to the country’s growing electricity demand and its commitment to achieving net-zero emissions by 2050.

The revised plan addresses Vietnam’s rapid economic growth, with the aim to support annual average GDP growth of 10% between 2026 and 2030, and 7.5% from 2031 to 2050. By 2030, commercial electricity consumption is expected to reach between 500.4 TWh and 557.8 TWh, rising to 1,237.7 TWh to 1,375.1 TWh by 2050. Power generation and imports are forecasted at 560.4 TWh to 624.6 TWh by 2030, with the 2050 target ranging from 1,360.1 TWh to 1,511.1 TWh.

The amended PDP VIII also raises the total installed capacity for 2030 to between 183,291 MW and 236,363 MW, a 57% increase from the original target of 150,489 MW. By 2050, capacity is set to nearly double, reaching between 774,503 MW and 838,681 MW.  

Key updates include:

• Wind power expansion: Onshore and nearshore wind capacity is set to rise to 26,066–38,029 MW by 2030, and 84,696–91,400 MW by 2050. Offshore wind (OSW) targets now include domestic consumption of 6,000–17,032 MW by 2030-35 and 113,503–139,097 MW by 2050.
  
  
• Biomass and waste energy: By 2030, biomass energy is targeted at 1,523–2,669 MW, while waste energy targets 1,441–2,137 MW. These figures will increase by 2050, with biomass capacity reaching 4,829–6,960 MW and waste energy at 1,784–2,137 MW.
  
  
• New energy sources: The plan specifies new energy capacity, targeting 45 MW for geothermal energy by 2030, with expansion to 464 MW by 2050.
  
  
• Nuclear energy: A significant focus on nuclear power is reflected, with a projected capacity of 4,000–6,000 MW between 2030-35 and 10,500–14,000 MW by 2050.
  
  
• LNG with CCS: LNG power plants integrated with carbon capture and storage (CCS) technologies are expected to reach between 1,887 MW and 2,269 MW by 2050.
  
  
• Floating solar projects: New floating solar developments will take place on existing hydropower lakes from 2025 to 2030.
  
  

The revised PDP VIII also includes major upgrades to the transmission grid, with 550 kV and 220 kV lines and substations, which will increase capacity by approximately 1.5 times compared to the original plan.