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Vietnam will need to invest up to $133.
3 billion in new power plants and transmission networks over the next decade to meet the country's growing demand
, the Vietnamese government said on Monday.
Of those, $96 billion is needed to build new power plants and $37.
3 billion to expand the grid, the government said in a statement on its website.
The government added that electricity demand in Southeast Asian countries is expected to grow by 8.
6% annually during 2021-2025 and 7.
2%
during 2026-2030.
The government says the investment will bring the country's total installed capacity to 138 GW
by 2030.
The current capacity is about 56 GW
.
The Ministry of Industry and Trade is drafting a new power development plan, which will be submitted to the government for approval
next month.
According to the first draft of the plan, Vietnam will increase the proportion of wind, solar and liquefied natural gas power generation while seeking to reduce coal-fired electricity
.
Faced with looming power shortages, Vietnam has become increasingly dependent on imported energy to support its economic growth, with Vietnam one of Asia's fastest-growing economies as hydropower has been almost fully utilized, while oil and gas production peaked, and Vietnam also canceled plans
to build nuclear power plants in 2016.
By 2025, Vietnam will have to import 1.
2 million mt of liquefied natural gas and 35.
1 million mt of coal
annually for its power plants, the government said.
By 2030, Vietnam will import 8.
5 million tons and 45 million tons
respectively.
Vietnam will need to invest up to $133.
3 billion in new power plants and transmission networks over the next decade to meet the country's growing demand
, the Vietnamese government said on Monday.
Of those, $96 billion is needed to build new power plants and $37.
3 billion to expand the grid, the government said in a statement on its website.
The government added that electricity demand in Southeast Asian countries is expected to grow by 8.
6% annually during 2021-2025 and 7.
2%
during 2026-2030.
The government says the investment will bring the country's total installed capacity to 138 GW
by 2030.
The current capacity is about 56 GW
.
The Ministry of Industry and Trade is drafting a new power development plan, which will be submitted to the government for approval
next month.
According to the first draft of the plan, Vietnam will increase the proportion of wind, solar and liquefied natural gas power generation while seeking to reduce coal-fired electricity
.
Faced with looming power shortages, Vietnam has become increasingly dependent on imported energy to support its economic growth, with Vietnam one of Asia's fastest-growing economies as hydropower has been almost fully utilized, while oil and gas production peaked, and Vietnam also canceled plans
to build nuclear power plants in 2016.
By 2025, Vietnam will have to import 1.
2 million mt of liquefied natural gas and 35.
1 million mt of coal
annually for its power plants, the government said.
By 2030, Vietnam will import 8.
5 million tons and 45 million tons
respectively.
