Power Plan VIII officially approved

Accordingly, Power Plan VIII plans the development of power sources and transmission grids at voltage levels of 220 kV 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 neighboring countries.

The VIII Power Plan sets the goal of firmly ensuring national energy security, meeting the requirements of socio-economic development and industrialization and modernization of the country. Along with that, successfully implementing a fair energy transition associated with production modernization, building a smart grid, advanced power system management, in line with the world's green transition, emission reduction, and science and technology development trends. At the same time, forming a comprehensive energy industry ecosystem based on renewable energy and new energy.

In particular, the goal is to ensure national energy security, provide enough electricity for domestic demand, meet socio-economic development goals with an average GDP growth rate of about 7%/year in the period 2021-2030, about 6.5-7.5%/year in the period 2031-2050; ensure safe and reliable electricity supply.

By 2030, the reliability of electricity supply will be among the top 4 ASEAN countries, the electricity access index will be among the top 3 ASEAN countries; by 2030, 50% of office buildings and 50% of houses will use self-produced and self-consumed rooftop solar power (for on-site consumption, not selling electricity to the national power system).

For a fair energy transition, the Power Plan VIII aims to strongly develop renewable energy sources for electricity production. By 2050, the renewable energy ratio will reach 67.5-71.5%; Control greenhouse gas emissions from electricity production to reach about 204-254 million tons in 2030 and about 27-31 million tons in 2050. Aim to reach a peak emission level of no more than 170 million tons in 2030; build a smart grid system capable of integrating and safely and effectively operating large-scale renewable energy sources...

Regarding the development of industrial ecosystems and renewable energy services, it is expected that by 2030, 2 inter-regional industrial and renewable energy service centers will be formed, including electricity production, transmission and consumption; renewable energy equipment manufacturing industry, construction, installation, related services, building renewable energy industrial ecosystems in areas with great potential such as the North, South Central, and South when there are favorable conditions. In addition, developing power sources from renewable energy and producing new energy for export. By 2030, the scale of electricity export capacity will reach about 5,000-10,000 MW.

To achieve the above goals, the 8th Power Plan also identified power source development plans, power grid development plans, grid connection with countries in the region, rural power development orientation, industrial ecology development orientation and renewable energy services, and investment capital needs.

Accordingly, the estimated total investment capital for developing power sources and transmission grids in the 2021-2030 period is equivalent to 134.7 billion USD; the estimated investment capital demand for developing power sources and transmission grids in the 2031-2050 period is equivalent to 399.2-523.1 billion USD, of which investment for power sources is about 364.4-511.2 billion USD, and power transmission grid is about 34.8-38.6 billion USD, which will be determined in subsequent plans.

According to the approved Decision, the Ministry of Industry and Trade is responsible for the accuracy of data, documents, diagrams, maps and databases in the Planning Dossier, ensuring consistency with the content of the Decision; organizing the announcement of the planning according to regulations and implementing the Decision in conjunction with directing the implementation of socio-economic development tasks according to the provisions of law, developing a Planning Implementation Plan to implement the set goals and tasks; organizing the assessment of planning implementation according to the provisions of the Law on Planning.

Preside over and coordinate with ministries, branches and localities to complete the development and submit to the Government the revised Electricity Law and the Law on Renewable Energy to submit to the National Assembly in 2024. Submit to the Government for promulgation policies on direct electricity purchase and sale. At the same time, preside over and coordinate with ministries, branches and People's Committees of centrally-run provinces and cities to continue working with investors, carefully review legal provisions, commitments and agreements between parties to thoroughly handle projects facing difficulties in implementation, and report to the Prime Minister on issues beyond their authority.

MINH AN

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