After nearly 4 years from the beginning of construction, the Electricity Master Plan VIII with the goal of energy conversion, renewable energy ecosystem development and electricity import and export has just been approved.

According to information from the Ministry of Industry and Trade, on May 15, Deputy Prime Minister Tran Hong Ha, authorized by the Prime Minister, signed the approval of the National Power Development Plan to 2030, with a vision to 2050 (Power Plan VIII).

As the legal basis for the implementation of power source and grid projects built in 2019, the Power Plan VIII was submitted to the Government by the Ministry of Industry and Trade from the end of 2021. This plan was approved in the context of the past few years. Some large power projects are behind schedule of operation, while new projects cannot be implemented due to waiting for additional planning.

According to the Ministry of Industry and Trade, many power sources have been built behind schedule, of which the North is 3,000 MW behind in thermal power sources, the South is more than 3,600 MW, and the development is not suitable for load distribution. The delay in progress in the two regions causes the risk of power shortage, difficulties in operation due to the lack of backup power capacity, especially in the North until 2025. Solar power by the end of 2020 will reach 8,700 MW, more than 9 times the capacity. capacity in the previous planning and the project is mainly concentrated in the central and southern regions.

According to this plan, Vietnam will develop electricity sources and transmission grids at voltages of 220 kV or higher, industry and services in renewable energy, new energy by 2050, including related works. grid connection to import and export electricity with other countries.

New in this plan compared to the past is the priority of developing renewable energy, accounting for about 31-39% by 2030, equivalent to 5,000-10,000 MW. This percentage can be increased to 47% with the commitment conditions under the political declaration on establishing a equitable energy transition partnership with Vietnam (JETP). The proportion of this power source in the system is expected to increase to 67.5-71.5% by 2050.

Also according to this plan, it is expected that by 2030, the whole country will have two inter-regional renewable energy service and industry centers, including electricity production, transmission and consumption; renewable energy equipment manufacturing industry, installation, service, building renewable energy industrial ecosystem in areas with great potential such as the North, South Central, and South.

Vietnam strives that by 2030, 50% of office buildings and 50% of residential houses will use self-sufficient and self-consuming rooftop solar power (for on-site consumption, not selling electricity into the national electricity system). . GHG emissions from power generation will decrease 7-8 times within 20 years (2030 – 2050), to 27-31 million tons by 2050. If international partners fully implement JETP commitments, Vietnam could reach a maximum emission level of 170 million tons by 2030.

In terms of capital, Vietnam will need nearly 135 billion USD to develop transmission power source and grid by 2030. Capital demand for electricity development (source, grid) will increase to 399 – 523 billion USD by 2050, of which over 90% for the construction of new power sources, the rest is for the transmission grid.

According to the master plan, the amount of commercial electricity will reach about 335 billion kWh by 2025, increasing to one and a half times by 2030 (about 505 billion kWh) and 1,114 – 1,254 billion kWh by 2050.

Vietnam will produce and import more than 378 billion kWh by 2025, increase to 567 billion kWh by 2030 and 1,224-1,378 billion kWh by 2050.

This master plan sets out a plan for the power system capacity to reach 59,318 MW by 2050, an increase of more than 10,000 MW compared to today. This capacity will increase to 90,512 MW by 2030 and more than double by 2050.

The Government assigned the Ministry of Industry and Trade together with other ministries and branches to finalize and submit to the Government the revised Electricity Law and the Law on Renewable Energy for submission to the National Assembly in 2024.

The Ministry of Industry and Trade is also assigned to submit to the Government for promulgation policies on direct electricity purchase and sale; work with investors to completely handle projects that are having difficulty in implementation, and report to the Prime Minister any issues beyond their authority.

Source: vietnam.postsen.com