Plan for implementing the National Power Development Master Plan for the period 2021–2030, with a vision towards 2050 in Vietnam

Plan for implementing the National Power Development Master Plan for the period 2021–2030, with a vision towards 2050 in Vietnam (Internet image)

On April 1, 2024, the Prime Minister issued Decision 262/QD-TTg approving the plan for implementing the National Power Development Master Plan for the period 2021–2030, with a vision towards 2050.

Plan for implementing the National Power Development Master Plan for the period 2021–2030, with a vision towards 2050 in Vietnam

The plan for implementing the National Power Development Master Plan for the period 2021–2030, with a vision towards 2050, approved by the Prime Minister has the following objectives and requirements:

(1) Objectives:

- Effectively implement Decision 500/QD-TTg dated May 15, 2023, by the Prime Minister approving the National Power Development Master Plan for the period 2021–2030, with a vision towards 2050 (Power Plan VIII). Develop an effective implementation roadmap for projects that meet the goals set out in Power Plan VIII, meet the electricity demand for socio-economic development in each period, and ensure electricity supply in advance.

- Strongly promote the transition from fossil fuels to new and renewable energy sources to reduce environmental pollution, greenhouse gas emissions, and contribute to Vietnam's self-determined contributions and the goal of achieving net-zero emissions by 2050.

- Identify solutions to attract investment in power development according to Power Plan VIII during the planning period; coordinate mechanisms among ministries, sectors, and central-affiliated provincial people's committees in implementing the plan.

- Provide guidance to ministries, sectors, and central-affiliated provincial people's committees on effective coordination with the Ministry of Industry and Trade and relevant units to implement Power Plan VIII.

(2) Requirements:

- The implementation plan for Power Plan VIII must closely follow the objectives and orientations of Power Plan VIII and specifically address the tasks assigned in Decision 500/QD-TTg by the Prime Minister.

- Ensure balanced development of electricity sources by region and area, aiming for supply-demand balance within regions; ensure feasibility, consistency, and flexibility in developing power sources/grid suitable for the national context and resources.

- Specify the schedule and resources for implementing priority projects to improve policies, laws, and enhance the scientific and technological capacity of the electricity sector during the planning period.

- Specify the list and schedule of important power projects, including regional power interconnections, during the planning period; the list and schedule of renewable energy projects (small hydropower, onshore wind power, biomass power, waste-to-energy) for each locality by 2025.

- Mobilize maximum resources and the participation of economic entities to develop the power sector.

- Ensure compliance, inheritance, and consistency with approved national-level sector plans/implementation plans, and ensure coordination and unity in implementation.

More details can be found in Decision 262/QD-TTg, taking effect on April 1, 2024.

The Ministers, Heads of Governmental Agencies, Chairpersons of Central-affiliated, Provincial People's Committees, Chairpersons of Council of Members, Directors General of Vietnam Electricity (EVN) Vietnam Oil and Gas Group and Vietnam Coal and Mineral Industries Group; ; Chairman, General Director of the Dong Bac Corporation, and relevant agencies are responsible for implementing Decision 262/QD-TTg.

Ho Quoc Tuan

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