Power development plan VIII: Priority for strong development renewable energy

giangnguyen 16/05/2023

The national power development plan has just been approved by the Prime Minister. In particular, the power development plan VIII gives priority to strongly developing renewable energy sources, encouraging “self-sufficient” renewable energy.

Target to reach 50% renewable energy use “self-sufficient”

Power development plan VIII planning on development of power sources and transmission grids at voltage level of 220kV or higher, industry and services in renewable energy, new energy in the territory of Vietnam in the period of 2021 – 2030, with a vision to 2050, including works to link the grid with neighboring countries.

In particular, regarding the goal of ensuring national energy security, providing sufficient electricity demand in the country, meeting the goal of socio-economic development with an average GDP growth of about 7%/year in the period 2021-2030, about 6.5-7.5%/year in the period 2031-2050; Ensure safe and reliable power supply. By 2030, the reliability of electricity supply will be in the group of 4 leading countries in ASEAN, the electricity access index will be in the group of 3 leading countries in ASEAN.

Power development plan VIII also aims to use self-produced, self-consumable rooftop solar power to serve local consumption needs, without selling electricity into the national electricity system. Self-sufficient solar power sources are prioritized for unlimited capacity development. By 2030, 50% of office buildings and 50% of residential houses will use this power system.

For the realization of energy transition in a fair way, Power development plan VIII aims to strongly develop renewable energy sources for electricity production. In the vision to 2050, the rate of renewable energy will reach from 67.5 – 71.5%; Control greenhouse gas emissions from power generation at around 204-254 million tons by 2030 and reduce it to about 27-31 million tons by 2050. The goal is to aim for peak emissions of no more than 170 million tons by 2030 if the commitments of international partners on energy transition are fully and practically implemented. At the same time, build a smart grid system, capable of safely and efficiently integrating and operating large-scale renewable energy sources.

It is expected that by 2030, in terms of developing the renewable energy service and industry ecosystem, two inter-regional renewable energy industry and service centers will be formed, including production, transmission and consumption. electricity, renewable energy equipment manufacturing industry, construction, installation, related services. At the same time, it will build a renewable energy industry ecosystem in areas with high potential such as the North, the South Central and the South, when there are favorable conditions.

Besides, developing power sources from renewable energy and producing new energy for export. Striving to 2030, the scale of electricity export capacity will reach about 5,000-10,000 MW.

Need more than 134 billion USD of investment for the period 2021 – 2030

Power development plan VIII has also identified plans for developing power sources, plans for developing electricity grids, linking the power grids with countries in the region, orientations for rural electricity development, and industrial ecological development orientations. and renewable energy services, and capital investment needs.

Accordingly, in the period of 2021 – 2030, it is estimated that the total investment in development of power sources and transmission grids is equivalent to 134.7 billion USD; Orientation for the period 2031 – 2050 is estimated to require investment capital for development of power source and transmission grid equivalent to USD 399.2 – 523.1 billion, of which investment for power source is about 364.4-511.2 billion USD, transmission grid about 34.8-38.6 billion USD, will be precise in the next planning.

Power development plan VIII: Electricity development must be one step ahead

Power development plan VIII was approved with a consistent view: Electricity is an important infrastructure sector, electricity development must be one step ahead, creating a foundation to promote rapid and sustainable development of the country and build an independent economy self-reliance, improving people’s living standards and ensuring national defense and security. Power development plan must have a long-term, effective, sustainable vision and put the interests of the nation and nation first and foremost.

To develop electricity according to the principle of overall optimization of the factors of power source, power transmission, electricity distribution, economical and efficient use of electricity, with an appropriate roadmap in parallel with the protection of natural resources and the environment and transforming economic models, ensuring national energy security at the lowest cost.

Power development plan VIII must be based on science, be inherited, dynamic and open but do not legitimize mistakes. Exploiting and effectively using domestic energy resources, combining with reasonable import and export, economical and efficient use of energy. Considering the development of renewable energy and new energy as an opportunity to develop the entire energy industry ecosystem.

The State concentrates on investing in and encouraging all economic sectors to rapidly develop the electricity industry on the principle of healthy competition and implements the market mechanism on electricity selling prices, ensuring harmonization of the interests of participants. to invest, use electricity and meet the development requirements of regions and regions.

Power development must closely follow the development trend of science and technology in the world, especially in renewable energy and new energy, associated with the process of transforming the country’s economy towards a green economy circular economy, low carbon economy. Energy transition must be in line with international trends and ensure sustainability, fairness and justice.

Source: The Ministry of Industry and Trade – Prime Minister officially approved the Power development plan VIII

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