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Vietnam Power and Energy Update – 8 March 2024

PIC tracks the latest developments in Vietnam's power sector providing insight and analysis on the market and policy.

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Energy efficiency key to Vietnam’s National Energy Development Strategy

Vietnam's new energy development strategy prioritizes energy efficiency (EE) and environmental protection. Key objectives under the strategy include developing a system of standards and technical regulations on EE; establishing a measurement and verification system for EE projects and introducing new regulations to support energy service companies (ESCOs(Decision 215/QD-TTg dated 1 March, 2024 approving Vietnam's National Energy Development Strategy to 2030, vision to 2045)Source Source


Finalisation of the PDP8 implementation plan in focus

Vietnam’s Ministry of Industry and Trade (MOIT) has been requested to expedite finalisation of the implementation plan for the National Power Development Plan for the period 2021 to 2030 (PDP8). One year after the PDP8 was issued, the implementation plan is yet to be approved. Finalisation of the implementation plan is a key requirement for progressing investment and construction of planned power projects in the country. Source


Singaporean delegation works with PTSC to progress export project

A Singaporean delegation comprised  of Singapore’s Ministry of Trade, the Energy Market Authority (EMA) and Semcorp have met with PetroVietnam Technical Services Joint Stock Corporation (PTSC) in Hanoi with respect to progression of an offshore wind export project in Ba Ria Vung Tau Province. The project forms part of Singapore’s target to import 4GW of clean energy by 2030. Source


Corio and EVN GENCO3 look to collaborate on offshore wind development in Vietnam

EVN Power Generation Corporation 3 (EVNGENCO3) and Corio Generation have signed an Memorandum of Understanding (MOU) with respect to offshore wind power project development in Vietnam. The announcement comes as part of a wider initiative linking  EVNGENCO3 with Australian investors and financial institutions in the development of strategic planning and funding for the sector. Source

Green hydrogen project proposed for Quang Tri Province

A consortium comprised of Minh Quang Company and Huadian Group have proposed development of 700 MW green hydrogen project in the Dong Gio Linh Industrial Cluster, Quang Tri Province. The project plans to produce 60,000 tons of green hydrogen annually from water electrolysis, combined with wind power and solar power. Source

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