Vietnam ups wind, solar targets as energy demand soars

COAL, NUCLEAR

The latest version of the PDP8, which was approved this week, also re-emphasises the country’s 2023 pledge to end the use of coal by 2050.

Coal will represent nearly 17 per cent of its energy mix by the end of the decade, down from a target of 20 percent set in 2023.

Meanwhile, solar will account for 31 per cent of the country’s energy by 2030, while onshore wind will be 16 per cent.

More than US$136 billion will be needed if Vietnam is to get there, the document said.

Under the new plan, the country also aims to open its first nuclear power plant by 2035 at the latest.

It comes after Vietnam and Russia signed an agreement on nuclear energy in January, with Hanoi saying Russian nuclear giant Rosatom was “very interested” in cooperating on a project in central Ninh Thuan province.

Overall, as Vietnam targets an ambitious 10 per cent economic growth rate by the end of the decade, it wants to raise its total installed capacity to a maximum of 236 GW by that date.

That’s up by more than 80 GW from the figure outlined in 2023.

Hanoi is also eager to avoid a repeat of the rolling blackouts and sudden power outages in summer 2023 that led to losses among manufacturers. They also prompted massive disruption for residents, as intensely hot weather and unprecedented drought strained energy supplies in northern Vietnam.