The Prime Minister to approve Electricity Planning VIII

Objectives of Electricity Planning VIII in Vietnam

Many national electricity development objectives for the period 2021–2030, with a vision to 2050, are set out as follows:

(1) Regarding ensuring national energy security:

- Providing enough domestic electricity demand and meeting socio-economic development objectives with an average GDP growth rate of about 7%/year in the period 2021–2030 and about 6.5–7.5%/year in the period 2031–2050:

+ Commercial electricity: about 335.0 billion kWh by 2025; by 2030, about 505.2 billion kWh; by 2050, it will be about 1,114.1–1,254.6 billion kWh.

+ Electricity production and import: about 378.3 billion kWh in 2025; by 2030, about 567.0 billion kWh; by 2050, it will be about 1,224.3–1,378.7 billion kWh.

+ Maximum capacity: about 59,318 MW in 2025; by 2030, about 90,512 MW; by 2050, about 185,187–208,555 MW.

- Ensure safe and reliable electricity supply, meeting criteria N-1 for important load areas and N-2 for especially important load areas. By 2030, electricity supply reliability will be in the top 4 countries in ASEAN, and the electricity access index will be in the top 3 countries in ASEAN.

- Strive to have 50% of office buildings and 50% of residential homes use self-produced and self-consumed rooftop solar power by 2030 (for on-site consumption, not selling electricity to the national power system).

(2) Regarding fair energy transition:

- Strongly develop renewable energy sources for electricity production, reaching a rate of about 30.9–39.2% by 2030, aiming for a renewable energy rate of 47% with the conditions of commitments. According to the Political Declaration establishing the Fair Energy Transition Partnership (JETP) with Vietnam, it has been fully and practically implemented by international partners.

Orientation to 2050: the proportion of renewable energy will reach 67.5–71.5%.

- Control greenhouse gas emissions from electricity production to about 204–254 million tons in 2030 and about 27–31 million tons in 2050. Aim to reach peak emissions of no more than 170 million tons by 2030, provided that commitments under the JETP are fully and practically implemented by international partners.

- Build a smart power grid system capable of integrating and safely and effectively operating large-scale renewable energy sources.

(3) Regarding the development of industrial ecosystems and renewable energy services:

- It is expected that by 2030, 02 inter-regional renewable energy industrial and service centers will be formed, including those for electricity production, transmission, and consumption; Renewable energy equipment manufacturing industry, construction, installation, related services, and building renewable energy industrial ecosystems in areas with great potential such as the North, South Central, and South when favorable conditions exist.

- Develop power sources from renewable energy and produce new energy for export. By 2030, the scale of electricity export capacity will reach about 5,000–10,000 MW.

More details can be found in Decision 500/QD-TTg  in 2023.

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