Minister of Industry and Trade Nguyen Hong Dien speaks at a ceremony to announce the Power Development Plan VIII. (Photo: VietnamPlus) Hanoi (VNA) - Vietnam will focus on developing power projects using domestic gas and imported natural gas, as well as medium- and large-scale hydropower projects, said Minister of Industry and Trade Nguyen Hong Dien has said.
The official made the statement while addressing a conference to announce the National Power Development Plan for the period 2021-2030, with a vision to 2050 (PDP VIII) held by the Ministry of Industry and Trade in Hanoi on May 19.
During the conference, Dien highlighted the significance of the PDP VIII approved by the Prime Minister, saying that it opens up a new development space for Vietnam's energy industry in a sustainable and equitable manner, in line with the trend of green and circular economy, and low-carbon economy.
It also shows the great determination and efforts of the MoIT and relevant ministries and sectors in successfully developing the plan, he added.
Highlights in electricity development
Under Decision No. Decision No. 500/QD-TTg approving the PDP VIII, Vietnam's power source structure will have many changes in the direction of prioritising the development of renewable and clean energy; reducing and completely eliminating coal-fired power.
The total capacity of power plants serving domestic demand by 2030 is 150,489 MW (excluding export, existing rooftop solar power, and renewable energy for new energy generation).
Hoang Tien Dung, General Director of the Electricity and Renewable Energy Authority under the MoIT, said that electricity is an important infrastructure industry to serve socio-economic development.
EVN proactively implements solutions to ensure safe electricity supply, serving socio-economic development. (Photo: VietnamPlus)
The MoIT will focus on investing in developing the power grid system, rural electricity infrastructure, and power grids linking with countries in the region.
Attention will be paid to ensuring the security of electricity supply; mobilising development investment capital; protecting the environment, preventing natural disasters; developing human resources; and promoting international cooperation.
Legal and policy solutions, sci-tech solutions, and economical and efficient electricity use will be also applied.
Regarding the objectives of the PDP VIII in ensuring national energy security, Tran Ky Phuc, Director of the Institute of Energy under the Ministry of Industry and Trade, said with the average GDP growth of 7% for the 2021-2030 period and 6.5%-7% for 2031-2050, to achieve a fair energy transition, the plan sets to increase the share of renewable energy in the country's power source structure to 30.9-39.2% by 2030, and 67.5-71.5% by 2050.
Photo: Hoang Tien Dung, Director of the Electricity and Renewable Energy Authority, briefs on the Power Development Plan VIII (Photo: VietnamPlus).
Meanwhile, coal-fired power projects in the Power Development Plan VII and the revised Power Development Plan VII will be continuously implemented with a total capacity of about 30,000 MW. These projects will be converted from using coal to biomass and ammonia when technology and cost are suitable. Factories with a lifespan of more than 40 years will cease operations if they are not eligible for conversion.
After 2030, ultra-high voltage transmission lines will be developed to harness the potential of offshore wind power. The integration of the power grid with neighbouring countries is an essential part of the plan, creating a diverse network helping import electricity from economically efficient sources.
The development of an inter-regional renewable energy service ecosystem is also a vital component, Phuc said.
Perfecting mechanisms, policies for power development
Minister Dien requested relevant agencies effectively carry out communication activities and popularize the core contents of the new power developmnet plan to sectors, business communities, and people, towards consensus on awareness, action, and determination to successfully achieve the goals set forth in the plan.
The Electricity and Renewable Energy Authority was tasked with coordinating with relevant units urgently to advise, develop, and submit to the authorized authorities for issuing plans to implement the PDP III in an open, transparent, and smooth manner.
He asked the Vietnam Electricity (EVN) to proactively implement solutions to ensure safe electricity supply for socio-economic development in all situations; focus resources to develop power source and transmission line projects; and take thorough measures to innovate corporate governance, reduce electricity losses, save costs and reduce prices, improve production and business efficiency, and ensure sustainable development.
Meanwhile, the Vietnam Oil and Gas Group (PetroVietnam) and the Vietnam Coal and Mineral Industries Group (Vinacomin) will be responsible for seeking gas and coal sources at home and abroad to ensure adequate fuel supply for power production./.
