Vietnam plans $136.3bn shift to renewables and nuclear by 2030

Vietnam will invest $136.3 billion in its power sector by 2030 to expand capacity and reduce coal use. Installed capacity is set to grow from over 80 GW in 2023 to between 183 GW and 236 GW.

Coal’s share will fall to 13.1%–16.9%. Solar will rise to 25.3%–31.1%, wind to 14.2%–16.1%, and LNG to 9.5%–12.3%. Offshore wind may add 6–17 GW between 2030 and 2035, though no plants exist yet.

The plan revives Vietnam’s nuclear programme, suspended in 2016. Up to 6.4 GW of nuclear capacity is targeted by 2035, with another 8 GW later. Small modular reactors are being explored.

Vietnam signed a nuclear deal with Russia in January 2025 and is engaging Japan, South Korea, France and the US. Russian and Japanese firms are being prioritised, but others may compete.

The planned investment equals over a quarter of Vietnam’s 2024 GDP.