Government approves Adjustment of Power Plan VIII

The Decision sets out the scope and boundaries of the planning: Planning for the development of power sources and transmission grids at voltage levels of 220kV or higher, industry and services on renewable energy and new energy in Vietnam for the period 2021 - 2030, with a vision to 2050, including grid connection projects with neighbouring countries.

The decision clearly states the development perspective:

Electricity is an important infrastructure sector, electricity development shall be one step ahead to create a foundation to promote rapid and sustainable development of the country, build an independent and self-reliant economy, improve people's lives and ensure national defense and security. Electricity development planning shall have a long-term vision, be effective, sustainable and put national and ethnic interests on the first and foremost priority.

Develop electricity based on the principle of optimizing all factors of power source, power transmission, power distribution, economical and efficient use of electricity, with a suitable roadmap combined with protection of resources, environment and economic model transformation, ensuring national energy security at the lowest cost.

Power development planning shall be based on science, inheritance, dynamic and open nature. It is required to exploit and  use domestic energy resources effectively, combine with reasonable import and export, and use energy economically and efficiently. Consider the development of renewable energy and new energy as an opportunity to develop the overall energy industry ecosystem.

The State focuses on investing and encouraging economic sectors to rapidly develop the electricity industry on the principle of fair competition and implementing a market mechanism on electricity prices, ensuring the harmony of interests of entities participating in investment and use of electricity and meeting the development requirements of regions.

Electricity development shall closely follow the development trend of science and technology in the world, especially renewable energy and new energy, associated with the process of transforming the country's economy towards a green economy, circular economy and low-carbon economy. Energy transition shall be consistent with international trends and ensure sustainability, fairness and justice.

The overall goal is to firmly ensure national energy security, meet the requirements of socio-economic development, industrialization and modernization of the country. Successfully implement a fair energy transition associated with production modernization, build a smart grid, manage advanced power systems, in line with the world's green transformation trend, reduce emissions, and develop science and technology and form a comprehensive energy industry ecosystem based on renewable energy and new energy.

The specific goal of ensuring national energy security is to supply sufficient power for domestic demand, meeting socio-economic development goals with an average GDP growth rate of about 10.0%/year in the period 2026 - 2030, about 7.5%/year in the period 2031 - 2050.

Commercial electricity: By 2030, it will reach about 500.4 - 557.8 billion kWh; by 2050, about 1,237.7 - 1,375.1 billion kWh.

Electricity production and import: In 2030,  about 560.4 - 624.6 billion kWh; in 2050,  about 1,360.1 - 1,511.1 billion kWh.

Maximum capacity: In 2030, about 89,655 - 99,934MW; in 2050, about 205,732 - 228,570MW.

Details of Decision No. 768/QD-TTg dated April 15, 2025, here.