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Vietnam needs 128.3 billion USD to develop electricity industry

Vietnam needs about 128.3 billion USD of investment capital to develop its electricity industry in 2021-2030, according to draft electricity planning released by the Ministry of Industry and Trade (MoIT).
Vietnam needs 128.3 billion USD to develop electricity industry ảnh 1A wind farm of Trung Nam Group in Ninh Thuan province in the central region of Vietnam (Photo courtesy of the Group)
Hanoi (VNS/VNA) - Vietnam needs about 128.3 billion USD of investment capital todevelop its electricity industry in 2021-2030, according to draftelectricity planning released by the Ministry of Industry and Trade (MoIT).

On February9, the MoIT issued a draft national electricity development planning projectfor 2021-2030, with a vision to 2045 or the power master plan VIII and askedother ministries and agencies to contribute their ideas.

Withforecasts that Vietnam's GDP growth will reach an average of 6.6 percent peryear in 2031-2045 and 5.7 percent per year in 2031-2045, the MoIT forecast thesupply of commercial electricity to reach 491 billion kWh by 2030, and 877billion kWh by 2045. 

The draftexpected by 2030, the total installed capacity of electricity sources in thecountry would reach 137.2 GW including 27 percent from coal-fired thermalpower, 21 percent from gas thermal power, 18 percent from hydroelectricity, 29 percentfrom wind power, solar and renewable energy and 4 percent from the importedsources and 1 percent from other types of energy from storage devices.

The MoIT’sdraft said by 2045, the total installed capacity will reach nearly 276.7GW including 18 percent from coal-fired thermal power, 24 percent from gasthermal power, 9 percent from hydroelectricity, 44 percent from wind power,solar and renewable energy and 2 percent from the imported sources and 3 percentfrom other types of energy from storage devices.

The powermaster plan VIII encourages the development of renewable energy anddiscourages hydroelectricity. Renewables made up 13 percent of power in2020 and are aimed to make up 30 percent by 2030 and 44 percent by 2045.

Regardingthe power grid development programme, the plan proposes to continue buildingthe 500kV power transmission system to transmit electricity from major powersource centres in the Central Highlands, south-central, north-central andcentral regions to the large load centres in Ho Chi Minh City and the Red RiverDelta. It also asked to strengthen the interconnected transmission grid tosupport the transmission of power capacity.

In thedraft, they also research the application of smart grid and the 4.0 technologyin power transmission to calculate and propose in the master plan.

The MoITcalculated total investment capital for electricity developmentin 2021-2030 of about 128.3 billion USD including 95.4 billion USD forelectricity and 32.9 billion USD for the grid.

For the next15 years, the ministry calculated the need at about 192.3 billion USD including140.2 billion USD for electricity and 52.1 billion USD for the grid.

Combiningthe two periods, Vietnam needs 320.6 billion USD to develop its national powersystem./.
VNA
#electricity industry #Ministry of Industry and Trade #Vietnam's GDP growth #power master plan VIII #vietnamplus #vietnam news agency
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