On 15 April 2025, the Prime Minister issued Decision No. 768/QD-TTg approving the adjustment of the national electricity development plan for the 2021 – 2030 period with a vision to 2050 (Decision 768). Decision 768 outlines the newly adopted demand forecast and provides more support towards the net-zero goal of Vietnam by 2050.
Please find below the key takeaways of Decision 768:
1. Development of industrial ecosystems
By 2030, two interregional industrial centers for renewable energy
will have been established in the northern, south-central, and
southern areas.
By 2035, 5,000–10,000 MW of electricity is expected to be
exported to Malaysia, Singapore, and other nearby markets.
2. Power structure by 2030:
The total capacity of power plants serving domestic demand
(exclusive of exports) will be 183,291 – 236,363 MW,
comprising:
- Onshore and nearshore wind: 26,066 – 38,029 MW (14.2% – 16.1%).
- Offshore wind: 6,000 – 17,032 MW to be commissioned during 2030–2035, with the possibility of earlier deployment if conditions are favorable and costs are appropriate.
- Solar: 46,459 – 73,416 MW (25.3% – 31.1%)
- Biomass: 1,523 – 2,699 MW
- Hydropower: 33,294 – 34,667 MW (14.7% – 18.2%)
- Nuclear: 4,000 – 6,400 MW to be commissioned during 2030–2035
- Storage sources: 10,000 – 16,300 MW (5.5% – 6.9%)
- Coal-fired: 31,055 MW (13.1% – 16.9%)
- Domestic gas-fired: 10,861 – 14,930 MW (5.9% – 6.3%)
- LNG-fired: 22,524 MW (9.5% – 12.3%)
- Flexible power sources: 2,000 – 3,000 MW (1.1% – 1.3%)
- Pumped-storage hydropower: 2,400 – 6,000 MW
- Imports: 9,360 – 12,100 MW from Laos and China (4.0% – 5.1%)
3. Orientation towards 2050:
The total capacity of power plants serving domestic demand
(exclusive of exports) will be 774,503 – 838,681 MW,
comprising:
- Onshore and nearshore wind: 84,696 – 91,400 MW (10.9%)
- Offshore wind: 113,503 – 139,097 MW (14.7% – 16.6%)
- Sola: 293,088 – 395,646 MW (35.3% – 37.8%)
- Biomass: 4,829 – 6,960 MW
- Hydropower: 40,624 MW (4.8% – 5.2%)
- Nuclear: 10,500 – 14,000 MW (1.4% – 1.7%)
- Storage sources: 95,983 – 96,120 MW (11.5% – 12.4%)
- Coal-fired: 0 MW (0%), coal will no longer be used for power generation
- Domestic gas-fired and conversion to LNG: 7,900 MW (0.9% – 1.0%)
- Domestic gas-fired converted to run entirely on hydrogen: 7,030 MW (0.8% – 0.9%)
- LNG-fired with CCS: 1,887 – 2,269 MW (0.2% – 0.3%)
- LNG-fired co-fired with hydrogen: 18,200 – 26,123 MW (2.3% – 3.1%)
- LNG-fired converted to run entirely on hydrogen: 8,576 – 11,325 MW (1.1% – 1.4%)
- Flexible power sources: 21,333 – 38,641 MW (2.8% – 4.6%)
- Pumped-storage hydropower: 20,691 – 21,327 MW
- Imports: 14,688 MW from Laos and China (1.8% – 1.9%)
- Participation in DPPA and new energy production is expected to take up about 30–60% of total electricity output from renewable energy, or higher, depending on the status of market development.
Electricity exports will be maintained at around 10,000 MW, possibly higher.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.
