According to a statement on the evening of September 12, the Vietnamese central government issued instructions at a recent meeting, requiring the Ministry of Industry and Trade to review projects in the 2021-2030 power development plan and to look ahead to the Draft National Power Development Plan (PDP VIII) to 2050.
Faced with challenges in coal-fired power, natural gas, wind power and hydropower, the Vietnamese government is considering resuming nuclear power development and increasing solar power generation capacity.
PDP VIII was only approved in April after lengthy discussions and delays, and is expected to be reviewed again due to slow progress, particularly in LNG and offshore wind.
The Vietnamese government said delays in the projects could affect the supply of electricity needed to support Vietnam’s projected economic growth, which requires annual power generation growth of 12% to 15%.
To speed up the legal framework for power projects, the government set up a working group led by Industry and Trade Minister Nguyen Hong Dien and including the heads of state energy companies Petrovietnam and Electricity of Vietnam (EVN).
The group is tasked with conducting a final review of the draft electricity law, which is expected to be submitted to the National Assembly for approval in October. The revised law will include regulations for the development of renewable energy, including new energy.
The Ministry of Information Technology has also been directed to work with other ministries, government agencies and state-owned energy companies to review applicable laws and remove legal hurdles for power projects.
The Ministry of Information Technology will study countries that have successfully developed nuclear power to increase baseload capacity and reduce emissions, and submit the proposal to Vietnam's top decision-making body, the Politburo, for review, according to the statement.
In 2016, Vietnam scrapped ambitious plans to build the country’s first two nuclear power plants, citing uncompetitive energy prices, lower-than-expected electricity demand and high construction costs.
Currently, the Ministry of Information Technology is collecting feedback from ministries, government agencies and state-owned energy companies to revise PDP VIII. From January to July 2024, Vietnam's commercial electricity sales increased by 13.7% year-on-year, exceeding the 9.1% annual growth forecast for 2021-2025 set in PDP VIII. However, the development of coal, natural gas, offshore wind power and hydropower lagged behind expectations.
Source：https://mp.weixin.qq.com/s/VPUZoGG1hrtoU7GKtqfBxw
