The National Electricity Development Plan for the 2021 – 2030 period with a vision to 2050 (Power Plan Development VIII – PDP8) was approved on 15 May 2023 by Deputy Prime Minister Tran Hong Ha under Decision No. 500/QD-TTg. Under the plan, the national power capacity from now to 2030 will be 146,000 MW. The share of renewable energy will increase to 30.9% – 39.2% by 2030 and 67.5% – 71.5% by 2050. Onshore wind power, offshore wind power and solar power will be the main resources contribute to the renewable energy, expected a respectively capacity of 21,880 MW; 6,000 MW and 4,100 MW by 2030. Other power resources like biomass, garbage and solid waste are encouraged to develop and reach a capacity of 2,270 MW by 2030. By 2050, Vietnam will no longer use coal for power generation. Total investment capital for power generation and transmission is estimated at $134.7 billion for the 2021-2030 period and $399.2 billion-$523.1 billion for the 2031-2050 period.
The National Electricticy Development Plan for the 2021 – 2030 period with a vision to 2050 (Power Plan Development VIII – PDP8) was approved on 15 May 2023