Overview
In May 2023, the Prime Minister issued the long-awaited Decision 500, approving the National Power Development Plan, known as PDP8. Decision 500 took effect on May 15, 2023, and covers a 27-year period (2023–2050). It outlines general policies, objectives, and plans for the development of power generation and transmission infrastructure. It also deals with land use. It identifies key projects. On April 1, 2024, the Prime Minister issued Decision 262, approving the PDP8 Implementation Plan (“Plan“). After two years from the date of Decision 500, the actual implementation shows that a number of offshore wind power projects and coal fired power plants may not achieve the approved schedule, a number of new nuclear power plants and new LNG power plants have been approved. On April 15, 2025 the Prime Minister issued a new decision (Decision 768) approving the amended National Power Plan (“Amended PDP8”) to address the actual implementation and changes of circumstances.
As of 2020, Vietnam’s total installed power generation capacity had reached 69,340 MW. During the 2023–2050 period, Vietnam’s GDP is projected to grow at an average annual rate of 6.5%–7.5%. To support this growth, Vietnam must double its current power generation capacity to reach 150,500 MW by 2030. From 2031, capacity will continue to increase and may reach 490,530 MW–573,000 MW by 2050. Power generated by LNG plants is expected to reach 22,525 MW by 2030, accounting for 9.5% ÷12.3% of total industry capacity.
