According to a draft electricity plan released by the Vietnamese Ministry of Industry and Trade, Vietnam will need about US$320bn to develop its power sector in 2021-2045, including US$235bn for electricity and US$85bn for the grid. The supply of commercial electricity is forecast to reach 491 TWh in 2030 (+87% compared to 2019) and 877 TWh by 2045 (+265%). The country’s total capacity should amount to 137 GW in 2030 (+145% compared to 2019), with 29% from wind power, solar and renewable energies, 27% from coal-fired thermal power plants, 21% from gas thermal power, 18% from hydropower, 4% from imports and 1% from storage devices. In 2045, Vietnam’s installed capacity is expected to reach 277 GW (+395% compared to 2019), including 44% from wind power, solar and renewable energies, 24% from gas thermal power, 18% from coal-fired thermal power, 9% from hydropower, 2% from imports and 3% from storage devices.
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