Vietnam needs $128 bln for power development over the next 10 years

Bich Phuong Tuesday | 02/23/2021 14:59


Total investment capital for electricity development in Vietnam between the 2021-2030 period is projected at $128.3 billion, according to information during a conference held by Ministry of Industry and Trade.

The demand of investment capital was expected to increase to over $192 billion for the 2031-2045 period, according to information given in the draft national electricity development planning project for the period 2021-2030, with a vision to 2045 Ministry of Industry and Trade has announced to consult relevant ministries.

The electricity investment demand was said to jump since the country’s annual GDP growth was forecast to reach 6.6 percent between the 2021-2030 period while the annual economic growth in the 2031 - 2045 period was projected at 5.7 percent.

Electricity production in 2030 may reach 491 billion kWh and 877 billion kWh by 2045.

According to the draft, by 2030, the total installed power generation capacity of Vietnam will reach 137.2 GQ, of which coal-fired thermal power contributes 27 percent; thermal power and gas, 21 percent; hydroelectricity, 18 percent; wind, solar and other renewable energy, 29 percent.

In 2045, the total installed capacity of the power source will reach nearly 276.7GW (of which coal-fired power contributes 18 percent; gas thermal power, 24 percent; hydroelectricity, 9 percent; wind power, solar and other renewable energy, over 44 percent.

The average marginal cost for the power generation portion is 8.8 UScent / kWh in the period 2021-2030 and 9.6 UScent / kWh in the period 2021-2045, the average marginal cost to the distribution network is 11.4 Uscent / kWh in the period of 2021-2030 and 12.3 Uscent / kWh in the period of 2021-2045.

► Vietnam Electricity gets Gov’t approval to build $2 bln power plant in Quang Binh

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