Vietnam has officially issued Decision 768/QD-TTg, approving the amended National Power Development Plan VIII (PDP VIII) for the 2021-30 period, with a vision toward 2050. The amended PDP VIII replaces Decision 500/QD-TTg of May 2023 and reflects Vietnam’s response to rapid economic growth and rising electricity demand. The country aims to supply sufficient electricity to support the annual average GDP growth of 10 per cent between 2026 and 2030, and 7.5 per cent from 2031 to 2050. By 2030, commercial electricity consumption is expected to reach 500.4–557.8 TWh, rising to 1,237.7–1,375.1 TWh by 2050. The total power generation and imports are projected at 560.4–624.6 TWh by 2030, with a 2050 forecast of 1,360.1–1,511.1 TWh.
As per Decision 768, for 2030, the total installed capacity is now set at 183,291-236,363 MW, up to 57 per cent higher than the original 150,489 MW target under Decision 500, excluding exported capacity, rooftop solar, and new energy sources. For 2050, capacity is projected at 774,503 to 838,681 MW, nearly doubling previous estimates. The revised plan reinforces Vietnam’s strategic pivot toward renewable and new energy sources, aligned with its 2050 net-zero commitment. Wind power receives a major boost: onshore and nearshore wind targets rise from 21,880 MW in 2030 to 26,066–38,029 MW, and from 60,050–77,050 MW by 2050 to 84,696–91,400 MW. Offshore wind (OSW) sees a domestic consumption increase to 6,000–17,032 MW by 2030-35 (delayed from the previous 2021-30 timeline), with the 2050 target rising to 113,503–139,097 MW from 70,000–91,500 MW as originally stipulated. Notably, OSW’s contribution to new energy production holds steady at 15,000 MW by 2035 and 240,000 MW by 2050.
For new energy, the capacity allocations for biomass and waste energy are now specified individually. By 2030, biomass is targeted at 1,523–2,669 MW and waste at 1,441–2,137 MW. By 2050, these figures increase to 4,829–6,960 MW for biomass and 1,784–2,137 MW for waste, compared to the previous combined target of 6,015 MW under Decision 500. By 2030, the plan targets at least 45 MW of geothermal and other new energy sources, which could expand to around 464 MW by 2050, depending on factors such as material availability, land use, environmental management, infrastructure, tariffs, and transmission costs.
Nuclear energy is set to play a prominent role, with a projected capacity between 4,000 MW and 6,000 MW during the 2030-35 period, increasing to between 10,500 MW and 14,000 MW by 2050, contingent on various conditions being met. Additionally, LNG power plants integrated with carbon capture and storage (CCS) technologies are expected to reach a capacity between 1,887 MW and 2,269 MW by 2050. The amended PDP VIII introduces floating solar projects to be developed on existing hydropower lakes from 2025 to 2030. In terms of transmission grids, the amended PDP VIII outlines the development of 550 kV and 220 kV lines and substations, increasing the capacity by approximately 1.5 times compared to the original PDP VIII.
