What’s noteworthy about the revised Power Development Plan VIII?

On April 15, 2025, Deputy Prime Minister Bùi Thanh Sơn signed Decision No. 768/QĐ-TTg approving the Adjustment of the National Power Development Plan for the 2021–2030 period, with a vision to 2050, also known as the revised Power Development Plan VIII (PDP8).

Strategic Goals Reaffirmed

The adjustment of PDP8 aims to meet the long-term objectives set out in Decision 500/QĐ-TTg, while updating the plan to reflect the current state of the power sector. Several core goals are maintained and emphasized in this revision, including:

• Ensuring national energy security and meeting electricity demand for socio-economic development during 2021–2030, with a vision toward 2050.

• Aiming for carbon neutrality by 2050, in alignment with commitments made at COP26.

• Developing the power sector in a green and sustainable direction by increasing the share of renewable energy and gradually reducing dependence on fossil fuels, especially coal.

• Enhancing private and foreign investment, and promoting public–private partnerships (PPP) in developing power generation sources and transmission infrastructure.

Key Adjustments in Decision No. 768/QĐ-TTg

According to Decision No. 768/QĐ-TTg dated April 15, 2025, the revised PDP8 places strong emphasis on promoting renewable energy development, aiming for a share of 28–36% by 2030 and 74–75% by 2050 (excluding hydropower).

Source: EVN, Mirae Asset Vietnam Reseach

Regarding solar power, the total installed capacity is expected to reach between 46,459 and 73,416 MW by the end of this decade. The government aims that by 2030, 50% of office buildings and 50% of households will use rooftop solar power under the self-production, self-consumption model.

For wind power, the total onshore and nearshore capacity is projected to reach between 26,066 and 38,029 MW by 2030. Vietnam also aims to export renewable energy to countries such as Singapore and Malaysia, with an expected export capacity of 5,000–10,000 MW by 2035, depending on demand and economic feasibility.

Hydropower will continue to be maximized on the basis of environmental, forest, and water resource protection, with a total capacity (including small-scale hydropower) reaching between 33,294 and 34,667 MW by 2030, and aiming for 40,624 MW by 2050.

New energy sources such as biomass, waste-to-energy, and geothermal power are also encouraged for development, aiming to address environmental issues and make use of agricultural by-products. The total capacity of this group of sources is expected to reach between 3,009 and 4,881 MW by 2030, increasing to over 9,000 MW by 2050.

Notably, during the period 2030–2035, the Ninh Thuan 1 and 2 nuclear power plants will be brought into operation, with a combined capacity of 4,000 to 6,400 MW. By 2050, an additional 8,000 MW of nuclear power may be required to ensure system stability.

The plan does not include any new coal-fired power projects; only projects already under implementation will be continued, and plants that have been in operation for over 20 years will be converted to use biomass or ammonia. Plants over 40 years old will be decommissioned if conversion is not feasible.

Regarding gas-fired power, the plan prioritizes the use of domestic gas and supplements with imported LNG as needed. In the long term, a gradual transition to hydrogen will be implemented once the technology matures. Significant investment will also be made in power storage systems, with a battery storage target of 10,000 to 16,300 MW by 2030 and nearly 96,120 MW by 2050.

Total investment in power sources and transmission grid development is estimated at around USD 136.3 billion for the 2026–2030 period, an additional USD 130 billion for 2031–2035, and a further USD 569.1 billion from 2036 to 2050.

Power Source Structure by 2030

Source	Capacity (MW)	Share (%)
Onshore & nearshore wind power	26.066 – 38.029	14,2 – 16,1
Offshore wind power	6.000 – 17.032	Not specified
Solar power	46.459 – 73.416	25,3 – 31,1
Biomass power	1.523 – 2.699	Not specified
Waste-to-energy	1.441 – 2.137	Not specified
Geothermal & other new energies	≈ 45	Not specified
Hydropower	33.294 – 34.667	14,7 – 18,2
Nuclear power	4.000 – 6.400	Not specified
Storage sources	10.000 – 16.300	5,5 – 6,9
Coal-fired power	31.055	13,1 – 16,9
Domestic gas-fired power	10.861 – 14.930	5,9 – 6,3
Liquefied natural gas (LNG) power	22.524	9,5 – 12,3
Flexible power sources	2.000 – 3.000	1,1 – 1,3
Pumped-storage hydropower	2.400 – 6.000	Not specified
Imported electricity	9.360 – 12.100	4,0 – 5,1

Conclusion

The adjustment of PDP8 is a strategic step to ensure energy security, accelerate the green energy transition, and promote sustainable development. With a direction focused on renewable energy, reduced coal dependency, and strong investment attraction, the new plan opens up great opportunities for the power sector and lays the foundation for Vietnam to become a clean energy hub in the region.