Vietnam - Power Development Master Plan 8 - what you must know:

1. Vietnam - Power Development Master Plan 8 - what you must know:
In late March 2021, the very first draft of the Prime Minister’s Decision on the Approval of
National Power Development Planning VIII (“Draft PM Decision”) has been published
through unofficial sources (i.e. not through MOIT’s website). This means the final draft PM
Decision may be amended and updated, nevertheless this is very likely issued by a contact
of MOIT.
The Draft PM Decision states clearly that priority is given to the development of renewable
energy sources for electricity production. In particular, the Draft aims to increase the rate
of electricity produced from renewable energy sources (not including hydroelectric
sources greater than 30 MW, storage hydroelectricity) to about 32% in 2030 and 43% in
2045.
By 2030, it is estimated that the total capacity of all power plants will be about 138,000
MW, of which: large, medium and pumped hydropower accounts for 15.2%; coal thermal
power 27.1%; thermo-gas (including LNG) 19.9%; renewable energy sources (including
small hydroelectricity, wind power, solar power, biomass power, ...) accounts for 32.5%;
electricity import is about 4.1%
Electricity produced and imported to reach 551 billion kWh, of which: large, medium and
storage hydropower accounts for 13.5%; coal thermal power is about 41.15%; gas thermal
power (including LNG) 22.58%; renewable energy sources (including wind power, solar
power, biomass power ...) 18.73%; electricity import 3.83%.
While the PDP 8 is being finalized, the Draft PM instructs investors and relevant
government agencies to continue the implementation of renewable energy projects (wind
power, solar power) that were approved in the Revised Power Development Planning 7
and other specialized electricity planning.
Notable provisions of the Draft:
Investment Capital:
The total investment capital required to implement the PDP 8 from 2021-2030 is about
USD 128.3 billion, of which USD 95.4 billion to be used for power source development
while USD 32.9 billion to be invested in grid construction and management. The total
investment capital is calculated to reach USD 192.3 billion by 2045.

2. Wind power:
Raise the total capacity of onshore wind power projects to about 18,010 MW-23,080 MW in
2030 and about 60,610-76,680 MW by 2045.
For offshore wind power projects, the target capacity is 5000 MW or more by 2030 and
21,000-36,000 MW by 2045.
Total electricity produced from wind power projects is expected to account for 7.9% in
2025, about 8.1% in 2030 and about 19.2% in 2045.
Solar energy:
Encourage the development of solar power sources, including onshore, water surface as
well as rooftop systems.
The total power capacity to be about 17,240 MW in 2025, roughly 18,140 MW in 2030 and
40,090 MW by 2040. Electricity produced from solar power is expected to reach around
7.3%. In 2025, about 5.3% in 2030 and 8.9% in 2045.
Hydropower sources:
The total capacity of small hydropower sources is targeted to reach 4,800 MW in 2025,
about 5,000 MW in 2030 and nearly 6,000 MW in 2045.
Thermal power:
For thermal power plants using domestically exploited gas and liquefied natural gas (LNG):
By 2030, the total capacity will reach 27,000 MW, production to hit 124 billion kWh,
accounting for nearly 23% of the total electricity output.
In 2045, the total capacity to reach 51,000 MW while production achieves 253 billion kWh,
accounting for nearly 26% of the total electricity output.
The Government also promote the development of port storage systems, infrastructure for
LNG import in regions across the country to fuel power projects using LNG.
List of projects of national importance and prioritized for development under the
Draft PM Decision:

3. No. Project Name Capacity
(MW)
Appointed
investor
Fuel
2021-2025 period
1 Quang Ninh Combined Gas
Cycle Turbine
1500 LNG
2 Hai Phong I Combined Gas
Cycle Turbine (Phase I)
1500 LNG
3 Ca Na Combined Gas Cycle
Turbine (Phase I)
1500 LNG
4 Nhon Trach 3 & 4 Combined
Gas Cycle Turbine
1500 PVPower LNG
5 Hiep Phuoc Combined Gas
Cycle Turbine (Phase I)
1200 Hiep Phuoc
Electricity LLC
LNG
6 Long An I Combined Gas
Cycle Turbine (Phase I)
750 LNG
7 Bac Lieu Combined Gas
Cycle Turbine (Phase I)
1600 Delta Offshore
Energy Pte.
Ltd.
LNG
8 Long Son I Combined Gas
Cycle Turbine
750 LNG
9 O Mon I (transferring Lo B
gas)
660 EVN Domestically
exploited gas
10 O Mon III Combined Gas
Cycle Turbine (Lo B gas)
1050 Domestically
exploited gas
11 O Mon IV Combined Gas
Cycle Turbine (Lo B gas)
1050 EVN Domestically
exploited gas
12 O Mon II Combined Gas
Cycle Turbine (Lo B gas)
1050 Trading
Construction
Works
Organization
and Marubeni
Domestically
exploited gas
13 An Khanh – Bac Giang
Thermal Power
650 An Khanh – Bac
Giang Thermal
Power JSC
Coal
14 Na Duong II Thermal Power 110 TKV Coal
15 Thai Binh II Thermal Power 1200 PVN Coal
16 Hai Ha Thermal Power
(Phase I)
300 IPP (within
KCN)
Coal
17 Nghi Son II Thermal Power 1200 Marubeni Coal
18 Vung Ang II Thermal Power 1200 Vung Ang II
Thermal Power
LLC
Coal
19 Quang Trach I Thermal
Power
1200 EVN Coal

4. 20 Cong Thanh Thermal Power 600 Cong Thanh
Thermal Power
JSC
Coal
21 Van Phong Thermal Power 1320 Sumitomo Coal
22 Duyen Hai II Thermal Power 1320 Janakusa SDN
BHD
Coal
23 Song Hau II Thermal Power 2120 TOYO Ink
Group
Coal
2026-2030 period
1 Quang Ninh 2 Combined Gas
Cycle Turbine
1500 LNG
2 Hai Phong II Combined Gas
Cycle Turbine
1500 LNG
3 Thai Binh Combined Gas
Cycle Turbine (Phase I)
1500 LNG
4 Nghi Son Combined Gas
Cycle Turbine (Phase I)
2400 LNG
5 Chan May Combined Gas
Cycle Turbine (Phase I)
1600 LNG
6 Ca Na Combined Gas Cycle
Turbine (Phase II)
3000 LNG
7 Khanh Hoa Combined Gas
Cycle Turbine (Phase I)
1500 LNG
8 Phu My 3.1 Combined Gas
Cycle Turbine
850 LNG
9 Son My II Combined Gas
Cycle Turbine
2250 AES Group
(USA)
LNG
10 Son My 1 Combined Gas
Cycle Turbine
2250 EDF, Kyushu,
Sojitz. Pacific
Group JSC
LNG
11 Ke Ga Combined Gas Cycle
Turbine (Phase I)
1500 LNG
12 Ca Mau Combined Gas Cycle
Turbine (Phase I)
1500 LNG
13 Long An I Combined Gas
Cycle Turbine (Phase II)
750 LNG
14 Bac Lieu Combined Gas
Cycle Turbine (Phase II)
1600 Delta Offshore
Energy Pte.
Ltd.
LNG
15 Long Son 2 Combined Gas
Cycle Turbine
750 LNG
16 Hai Ha Thermal Power
(Phase 2)
1800 IPP (within
KCN)
Coal

5. 17 Hai Lang Combined Gas
Cycle Turbine (Phase I)
1500 Domestically
exploited gas
18 Mien Trung I Combined Gas
Cycle Turbine (CVX gas)
750 PVN LNG
19 Mien Trung II Combined Gas
Cycle Turbine (CVX gas)
750 PVN LNG
20 Dung Quat I Combined Gas
Cycle Turbine (CVX gas)
750 EVN LNG
21 Dung Quat II Combined Gas
Cycle Turbine (CVX gas)
750 Sembcorp
Utilities Pte.
Ltd.
LNG
22 Dung Quat III Combined Gas
Cycle Turbine (CVX gas)
750 EVN LNG
23 Quang Tri Combined Gas
Cycle Turbine (Bao Vang
gas)
340 Gazprom
International
LNG
24 Pha Lai 3 Thermal Power 660 Coal
25 Bao Dai Coal Thermal Power 600 Coal
26 Nam Dinh I Thermal Power 1200 Taekwang
Power
Holdings –
ACWA Power
Coal
27 Quang Trach II Thermal
Power
1200 EVN Coal
28 Quynh Lap I Thermal Power 1200 Coal
29 Quynh Lap II Thermal
Power
1200 Coal
30 Quang Tri I Thermal Power 1320 EGATi Coal
31 Vinh Tan III Thermal Power 1980 VTEC Coal
32 Long Phu II Thermal Power 1320 Coal
33 Hiep Phuoc Combined Gas
Cycle Turbine (Phase II)
1500 Hiep Phuoc
Electricity LLC
LNG
2031-2035 period
1 Ca Na Combined Gas Cycle
Turbine (Phase IIII)
1500 LNG
2 Hai Lang 1 Combined Gas
Cycle Turbine
1500 Domestically
exploited
gas/LNG
3 Long An II Combined Gas
Cycle Turbine
1500 LNG
4 Long Son 3,4 Combined Gas
Cycle Turbine
1500 LNG
5 Thai Binh Combined Gas
Cycle Turbine (Phase II)
1500 LNG

6. 6 Hai Phong I Combined Gas
Cycle Turbine (Phase II)
1500 LNG
7 Nghi Son Combined Gas
Cycle Turbine (Phase 2)
2400 LNG
8 Chan May Combined Gas
Cycle Turbine (Phase 2)
2400 LNG
9 Khanh Hoa Combined Gas
Cycle Turbine (Phase 2)
1500 LNG
10 Ca Mau Combined Gas Cycle
Turbine (Phase 2)
1500 LNG
11 Vung Ang Combined Gas
Cycle Turbine (Phase 1)
1500 LNG
12 Formusa HT 2 Thermal
Power
650 Coal
13 Long Phu 1 Thermal Power 1200 PVN Coal
14 Hai Lang Combined Gas
Cycle Turbine (Phase 2)
1500 Domestically
exploited
gas/LNG
2036-2040 period
1 Nghi Son Combined Gas
Cycle Turbine (Phase 3)
2400 LNG
2 Khanh Hoa Combined Gas
Cycle Turbine (Phase 3)
1500 LNG
3 Ke Ga Combined Gas Cycle
Turbine (Phase 2)
1500 LNG
4 Vung Ang Combined Gas
Cycle Turbine (Phase 2)
1500 LNG
5 Long Phu III Thermal Power 1800 Coal
2041-2045 period
1 Thai Binh Combined Gas
Cycle Turbine (Phase 3)
1500 LNG
2 Nghi Son Combined Gas
Cycle Turbine (Phase 4)
2400 LNG