Expedite the implementation of the power project.

The Ministry of Industry and Trade has held numerous meetings with localities, ministries, sectors, and investors of identified power projects, but progress has been slow.

Revoke the project if implementation is slow.

At the meeting to implement Directive 01/CT-TTg on proactively ensuring sufficient electricity supply for production, business, and people's lives during peak periods in 2025 and 2026-2030 (Directive 01), Minister of Industry and Trade Nguyen Hong Dien mentioned that " the Government will resolutely revoke the investment license of any power project investor that fails to meet the committed schedule."

Clarifying incentives to accelerate the progress of offshore wind power projects, Deputy Minister of Industry and Trade Nguyen Hoang Long said that the Ministry of Industry and Trade will issue breakthrough mechanisms, including minimum contracted electricity output, streamlined investor selection procedures, including procedures for large corporations, among which are 100% state-owned enterprises.

The goal is to achieve a planned offshore wind capacity of 6,000 MW by 2030. However, it should be noted that only approved projects and only investors who complete them before January 1, 2031, will be eligible for special incentives.

"The principle is that both gas-fired and offshore wind power projects considered for licensing during this period must be put into operation and connected to the national grid before December 31, 2030. Otherwise, they will lose the right to enjoy preferential mechanisms and face penalties and accountability measures," the Minister of Industry and Trade cautioned investors.

The Minister of Industry and Trade also requested the investor of the Nhon Trach 3&4 power project to decisively complete the necessary procedures, striving to connect to the power grid and generate commercial electricity in the first quarter, or at the latest the second quarter of 2025.

Other LNG power projects that already have investors, such as Hiep Phuoc Phase I, Quang Ninh , Thai Binh, Quang Trach 2, Hai Lang Phase I, Son My I BOT, Son My II BOT, Bac Lieu, Long An, O Mon 1, 2, 3, and 4, were also urged by the Minister of Industry and Trade to quickly complete investment preparation procedures and develop specific roadmaps for implementation, striving to complete and put them into operation before 2030.

With three LNG power plant projects still lacking investors, including those in Thanh Hoa, Nghe An, and Ninh Thuan, the localities are required to select investors no later than the first quarter of 2025.

For projects of the Vietnam National Energy Industry Corporation (Petrovietnam), it is necessary to comply with legal regulations, promptly sign gas purchase and sale contracts with project investors in the Block B gas chain, and strive to complete the O Mon 3&4 gas-fired power projects in its role as the investor.

The Vietnam Electricity Group (EVN) was also requested to accelerate the progress of ongoing power generation projects, bringing them into operation at least six months ahead of schedule. For other power generation projects that EVN is implementing in cooperation with foreign partners, if the foreign investor is unable to carry them out, EVN must review its capabilities and propose a solution by January 2025 for the Ministry of Industry and Trade to report to the Government for consideration, in accordance with the provisions on special cases in the Electricity Law, effective from February 1, 2025.

Waiting for the new power project to be implemented.

According to the 2024 summary report and 2025 implementation plan of the National Power System and Market Operator (NSMO), the total number of new power sources connected to the national grid in 2024 was 1,588 MW.

In this overall picture, EVN – despite being the main entity responsible for supplying electricity to the economy – only contributed 360 MW of new power generation from the expanded Yaly Hydropower Plant.

The list of projects scheduled for commissioning in 2025 by EVN is not only short in number but also small in capacity. Most notably, the Hoa Binh Hydropower Expansion project is expected to be commissioned in the fourth quarter of 2025, with a capacity of 480 MW. Meanwhile, Unit 1 of the Quang Trach 1 Power Plant, with a capacity of 1,400 MW, although aiming for grid connection in September 2025, is projected to begin commercial operation of both units in 2026.

Therefore, EVN proposes that the Prime Minister continue to assign the implementation of new power generation projects for investment, including the continued investment in the Ninh Thuan Nuclear Power Plant Project.

In the transmission project sector, although EVN and its units commenced 172 110-500 kV grid projects and commissioned 216 110-500 kV grid projects in 2024, the investment process still faces many challenges.

The National Power Transmission Corporation (EVNNPT) – the main unit in investing in 220 kV and 500 kV transmission lines – reported that the number of projects EVNNPT started in 2024 was low, only 27 out of 40 projects, equivalent to 67.5% of the plan assigned by EVN. The number of projects commissioned in 2024 also only reached 49 out of 76 projects, equivalent to 64.5% of the assigned plan.

Numerous reasons for the delays have also been listed. In terms of mechanisms, although 220 kV and 500 kV power grid projects are included in the national plan (Power Plan VIII), the exact construction locations and land areas used are not precisely defined. Therefore, when incorporating them into the plan, provinces only include a list or determine locations that may not meet the requirements regarding the scale and transmission lines of the project.

Therefore, the People's Committees of the provinces have refused to approve the investment policies for many projects, citing reasons such as the projects not conforming to provincial planning, general planning, zoning planning, urban planning, and land use planning at the district level…

Furthermore, for 220 kV and 500 kV power line projects spanning two or more provinces, the authority to approve the investment policy rests with the Prime Minister. Therefore, it requires submission to numerous ministries, agencies, and localities for consultation, leading to prolonged approval times.

Given this reality, much more effort will be needed from ministries, departments, localities, and businesses to bring more new power projects into operation.