The Prime Minister on May 15 approved the National Power Development Master Plan (Plan VIII) for the 2021-30 period, with a vision toward 2050, with a view to firmly assuring the country’s energy security and meeting industrialization and modernization requirements.
According to Decision 500/QD-TTg, power infrastructure plays an important role in promoting the country’s fast and sustainable development, contributing to building an independent and self-reliant economy, improving the people’s livelihood, and maintaining the national defense and security.
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| The dam of Lai Chau hydropower plant in Lai Chau province__Photo: VNA |
Plan VIII sets the target of completing fair energy transition in association with modernized production and smart power grid and advanced administration of the power system in line with the global trends of green transition, carbon emission reduction and science and technology development.
Regarding the national energy security, Plan VIII aims at ensuring a sufficient supply of electricity for achieving the country’s projected annual GDP growth rate of 7 percent during 2021-30, and 6.5-7.5 percent for the 2031-50 period.
By 2030, the country will be among top four countries in ASEAN in terms of power reliability and top three for electricity accessibility.
As for the fair energy transition, the Plan targets to increase the share of renewable energy to 31-40 percent and 67.5-71.5 percent by 2030 and 2050, respectively.
It also seeks to generate green energy for export, with a target output of 5-10 GW by 2030.
At the same time, two trans-regional renewable energy centers will be established for electricity generation, transmission and consumption, while renewable energy ecosystems will be built in potential regions, including the North, southern Central Vietnam, and the South.
Under the Plan, until 2030, the total investment capital for power generation and transmission is expected to reach USD 134.7 million, and increase to USD 399.2 million for the 2031-50 period.
As assigned, the Electricity of Vietnam Group (EVN) will continue to take charge of ensuring the stable and safe electricity supply for socio-economic development, and implementing investment projects on power generation and transmission.- (VLLF)
