According to the government, Vietnam will have to invest US$96bn in new power plants and US$37bn in power transmission networks over the next decade, as electricity demand is forecast to increase by 8.6%/year during the 2021-2025 period and by 7.2%/year in the 2026-2030 period. The government plans to boost the country’s installed capacity to 138 GW by 2030, from 49 GW at the end of 2019 and around 56 GW currently.
The Ministry of Industry and Trade of Vietnam is preparing a new master power development plan that should be submitted to the government for approval in October 2020. It aims to reduce the share of coal in the country's power mix, to the advantage of wind, solar, and LNG. In 2025, the country is expected to import 1.2 Mt of LNG and 35.1 Mt of coal for its power plants; the volumes will rise to 8.5 Mt and 45 Mt, respectively, by 2030.
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