Vietnam needs 128.3 billion USD to develop power sector



According to the Draft National Power Development Plan 8 of Vietnam (PDP8), it is forecasted that Vietnam's GDP growth will reach an average of 6.6 percent per year in the period of 2031-2045 and 5.7 percent per year in the period of 2031-2045. The MOIT forecasted the supply of commercial electricity to reach 491 billion kWh by 2030, and 877 billion kWh by 2045. The PDP8 encourages the development of renewable energy and discourages hydroelectricity. Renewable energy made up 13 percent of power in 2020 and are aimed to make up 30 percent by 2030 and 44 percent by 2045. The MOIT calculated total investment capital for electricity development in 2021-2030 of about 128.3 billion USD including 95.4 billion USD for electricity and 32.9 billion USD for the grid development programme.


Source: Vietnam Investment Review

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