This amount will rise to approximately 20 billion USD per year thereafter.

Dak Nong Power Transmission staff inspect equipment at the 500kV Dak Nong substation.

The updated plan, approved under Decision No. 768/QD-TTg dated April 15, outlines ambitious targets to ensure national energy security and meet economic growth demands.

The country aims to supply sufficient electricity to support average GDP growth of 10% per year between 2026 and 2030, and 7.5% per year from 2031 to 2050.

By 2030, commercial electricity consumption is expected to reach 500.4–557.8 billion kWh, rising to 1,237.7–1,375.1 billion kWh by 2050.

The total power generation and imports are projected at 560.4–624.6 billion kWh by 2030, with a 2050 forecast of 1,360.1–1,511.1 billion kWh.

Peak load capacity is forecast to hit 89,655–99,934MW by 2030 and 205,732–228,570MW by 2050.

The plan also places strong emphasis on reliability and resilience. It sets the goal of achieving N-1 reliability standards for critical load areas and N-2 for highly critical zones and nuclear power facilities by 2030.

N-1 means the power grid can handle the failure of one component without disruption, while N-2 ensures reliability even if two critical elements fail.

Vietnam is aiming to be among the top four ASEAN countries for electricity reliability and in the top three for ease of electricity access.

To support the plan’s rollout, Minister of Industry and Trade Nguyen Hong Dien has called on EVN and relevant agencies to review pricing regulations and adopt market-based electricity pricing mechanisms to attract investors.

Local departments are tasked with updating local power projects in line with increased capacity projections in the revised PDP VIII.

The minister also urged stronger communication efforts to build public consensus around the plan and called for more frequent inspections of power generation and grid projects, to ensure timely implementation.

Authorities have been instructed to address project delays by replacing stalled developments with more feasible alternatives.

Vietnam is also pushing for increased rooftop solar adoption, aiming for 50% of office buildings and residential homes to use self-produced, self-consumed solar power by 2030 – without feeding back into the national grid.

PM approves adjusted national power development plan for 2021-2030

The key objective is to ensure sufficient electricity for national socio-economic development toward an average GDP growth rate of around 10% per annum during 2026–2030, and approximately 7.5% per annum for 2031–2050.

Bac Giang accelerates construction of high-voltage power grid projects

BAC GIANG – The northern province of Bac Giang is currently the focus of investment by Vietnam Electricity (EVN) and industrial park infrastructure developers, with 26 high-voltage power grid projects underway to support the province’s rapidly growing industrial production.

Ensuring stable power supply during peak summer demand

This year’s hot season is expected to begin in the second half of April across many parts of Vietnam and last for two to three months, according to the National Centre for Hydro-Meteorological Forecasting. As a result, electricity consumption is projected to surge dramatically.

PM urges fast-tracking construction of nuclear power plants

Prime Minister Pham Minh Chinh requested competent authorities to accelerate the development of the Ninh Thuan nuclear power plant project while chairing the second meeting of the steering committee for nuclear power plant construction on Tuesday.

Ministry stresses human resources development for nuclear power programme

Minister of Industry and Trade Nguyen Hong Dien chaired a conference on January 2 regarding the development of science and technology human resources in service of Vietnam's nuclear power programme.