On 15 April 2025, the Prime Minister issued Decision No. 768/QD-TTg approving the adjustment of the national electricity development plan for the 2021 – 2030 period with a vision to 2050 (Decision 768). Decision 768 outlines the newly adopted demand forecast and provides more support towards the net-zero goal of Vietnam by 2050. Please find below the key takeaways of Decision 768:
- Development of industrial ecosystems
By 2030, two interregional industrial centers for renewable energy will have been established in the northern, south-central, and southern areas.
By 2035, 5,000–10,000 MW of electricity is expected to be exported to Malaysia, Singapore, and other nearby markets.
- Power structure by 2030:
The total capacity of power plants serving domestic demand (exclusive of exports) will be 183,291 – 236,363 MW, comprising:
– Onshore and nearshore wind: 26,066 – 38,029 MW (14.2% – 16.1%).
– Offshore wind: 6,000 – 17,032 MW to be commissioned during 2030–2035, with the possibility of earlier deployment if conditions are favorable and costs are appropriate.
– Solar: 46,459 – 73,416 MW (25.3% – 31.1%)
– Biomass: 1,523 – 2,699 MW
– Hydropower: 33,294 – 34,667 MW (14.7% – 18.2%)
– Nuclear: 4,000 – 6,400 MW to be commissioned during 2030–2035
– Storage sources: 10,000 – 16,300 MW (5.5% – 6.9%)
– Coal-fired: 31,055 MW (13.1% – 16.9%)
– Domestic gas-fired: 10,861 – 14,930 MW (5.9% – 6.3%)
– LNG-fired: 22,524 MW (9.5% – 12.3%)
– Flexible power sources: 2,000 – 3,000 MW (1.1% – 1.3%)
– Pumped-storage hydropower: 2,400 – 6,000 MW
– Imports: 9,360 – 12,100 MW from Laos and China (4.0% – 5.1%)
- Orientation towards 2050:
The total capacity of power plants serving domestic demand (exclusive of exports) will be 774,503 – 838,681 MW, comprising:
– Onshore and nearshore wind: 84,696 – 91,400 MW (10.9%)
– Offshore wind: 113,503 – 139,097 MW (14.7% – 16.6%)
– Sola: 293,088 – 395,646 MW (35.3% – 37.8%)
– Biomass: 4,829 – 6,960 MW
– Hydropower: 40,624 MW (4.8% – 5.2%)
– Nuclear: 10,500 – 14,000 MW (1.4% – 1.7%)
– Storage sources: 95,983 – 96,120 MW (11.5% – 12.4%)
– Coal-fired: 0 MW (0%), coal will no longer be used for power generation
– Domestic gas-fired and conversion to LNG: 7,900 MW (0.9% – 1.0%)
– Domestic gas-fired converted to run entirely on hydrogen: 7,030 MW (0.8% – 0.9%)
– LNG-fired with CCS: 1,887 – 2,269 MW (0.2% – 0.3%)
– LNG-fired co-fired with hydrogen: 18,200 – 26,123 MW (2.3% – 3.1%)
– LNG-fired converted to run entirely on hydrogen: 8,576 – 11,325 MW (1.1% – 1.4%)
– Flexible power sources: 21,333 – 38,641 MW (2.8% – 4.6%)
– Pumped-storage hydropower: 20,691 – 21,327 MW
– Imports: 14,688 MW from Laos and China (1.8% – 1.9%)
– Participation in DPPA and new energy production is expected to take up about 30–60% of total electricity output from renewable energy, or higher, depending on the status of market development.
Electricity exports will be maintained at around 10,000 MW, possibly higher.
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Please do not hesitate to contact Dr. Oliver Massmann at [email protected] if you have any questions. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
