The Vietnam’s government has approved the national electricity development planning for the period of 2021 – 2030, with a vision to 2050 (PDP 8), raising total capacity to 150,489 MW by 2023.
|Vietnam PDP 8|
|Total Capacity 150,489 MW|
|Onshore wind power||21,800|
|Offshore wind power||6,000|
Coal remains the main source of power for Vietnam with the highest capacity of over 30,000 megawatt. However, the government noted that coal-fired power plants will only continue to implement projects already in the adjusted Power Master Plan VII and under construction until 2030.
The investment in energy power aims to supply enough electricity demand in the country, meeting socio-economic development goals with an average GDP growth of about 7%/year in the period 2021-2030, about 6.5-7.5%/year in the period 2031-2050.
The government wrote in a plan that it will accelerate the development of power sources from renewable energy and continue to increase the proportion of renewable energy in the structure of power sources and production power.
Looking ahead to 2050, the government expects total capacity for renewable energy to reach 490,529 – 573,129MW. Solar power is expected to lead all production types at 168,594 – 189,294 MW by 2050. Meanwhile, the combination of onshore and offshore wind power could reach as high as 168,550 MW.
This could open up more investment opportunities for power generators in Thailand, especially those listed companies in the exchange that already have a footprint in the country from their previous investment, namely Banpu Power Pcl (SET: BPP), B.Grimm Power Pcl (SET: BGRIM), Gulf Energy Development Pcl (SET: GULF), Sermsang Power Corporation Pcl (SET: SSP) and Super Energy Corporation Pcl (SET: SUPER). Meanwhile, the Vietnam’s government welcomes new players as the large scale of capacity expansion also requires international investment to give a huge boost to its projects.