The Vietnamese government approved the Power Development Plan 8 (PDP8) on May 15, which envisages the development of a 220 kV or higher transmission grid and the domestic renewable energy industry and services by 2030. The plan also highlights the substantial investment required to develop the energy industry, providing potential opportunities for foreign energy companies. Below are the main projects of PDP8.
Target
- Change to renewable energy, develop green energy, industrial ecology and renewable energy services, furthermore, it’s expected to establish two cross-regional centers for renewable energy and industrial service by 2030.
- The utilization rate of renewable energy is as high as 67.5%-71.5% by 2050.
- By 2030, greenhouse gas emissions from power generation are limited to approximately 204-254 million tons, and to about 27-31 million tons in 2050.
