Vietnam sets ambitious targets in revised national power development plan

The Vietnamese government has officially revised the eighth national power development plan, setting bold targets for electricity production and renewable energy adoption through 2050.

On April 15th, Vietnam’s Deputy Prime Minister Bui Thanh Son signed off on the adjustments to the eighth national power development plan, covering the period 2021–2030 with a vision toward 2050, according to the government news portal.

The plan emphasizes developing smart grids capable of integrating large-scale renewable energy sources. It also calls for strengthened grid interconnectivity with neighboring countries including China, Laos, and Cambodia to ensure power supply stability.

The revised eighth national power development plan sets the target of achieving a renewable electricity ratio (excluding hydropower) of 28-36% by 2030. Photo: VGP

Energy production, renewable goals, and infrastructure

According to the updated plan, electricity output is expected to exceed 560 billion kWh by 2030, with peak capacity reaching between 89,655 MW and nearly 100,000 MW. By 2050, the figures are projected to rise significantly, with electricity output ranging from 1,237.7 to 1,375.1 billion kWh, and peak capacity between 205,732 and 228,570 MW.

One of the plan’s key pillars is the accelerated development of renewable energy—excluding hydropower. By 2030, renewables are projected to account for 28–36% of electricity generation, rising dramatically to 74–75% by 2050.

The government also aims for 50% of office buildings and households to use rooftop solar for self-production and consumption by 2030.

Vietnam is also setting its sights on becoming a regional energy exporter. Wind power capacity is expected to reach between 26,066 and 38,029 MW by 2030, with plans to export renewable electricity to Singapore, Malaysia, and other regional partners. By 2035, export capacity could hit 5,000–10,000 MW.

Hydropower will continue to play a key role, with a targeted capacity of 33,294–34,667 MW by 2030, increasing to 40,624 MW by 2050. The government stresses that expansion will be balanced with environmental protection and resource sustainability.

In addition to solar and wind, the plan promotes the use of biomass, waste-to-energy, geothermal, and other emerging renewable sources—both to support energy security and to address environmental concerns. These sources are expected to contribute 3,009–4,881 MW by 2030, and over 9,000 MW by 2050.

Nuclear energy, fossil fuels, and investment strategy

Notably, nuclear power is poised for a comeback. Between 2030 and 2035, Vietnam plans to bring two nuclear power plants—Ninh Thuận 1 and 2—online, with a combined capacity of 4,000–6,400 MW. By 2050, nuclear capacity could be expanded by an additional 8,000 MW.

The revised plan also marks a major shift away from coal. No new coal-fired plants will be added, and existing facilities older than 20 years will be converted to run on biomass or ammonia. Plants over 40 years old will be decommissioned if conversion is not feasible.

As for gas power, domestic gas will be prioritized, with imported LNG serving as a supplement when necessary. Over time, the sector will transition toward hydrogen as technology matures.

Significant investment in battery storage is planned to ensure grid reliability as renewables expand. Storage capacity is expected to reach 10,000–16,300 MW by 2030 and soar to nearly 96,120 MW by 2050.

The revised eighth national power development plan estimates total investment requirements of $136.3 billion for generation and transmission infrastructure between 2026 and 2030—an average of $27 billion per year, with 86% allocated to generation.

From 2031 to 2050, a further $699 billion in investment will be needed, averaging $35 billion per year. The government acknowledges that breakthrough mechanisms and solutions will be essential to mobilize capital at this scale.