Vietnam has announced an ambitious $136 billion plan to dramatically expand its power generation capacity by 2030, as electricity demand surges alongside rapid industrial growth. The revised national power development plan aims to prevent power shortages like those seen in recent years, which have raised concerns among foreign manufacturers and investors.
Under the plan, Vietnam will more than double its installed power capacity, increasing it from just over 80 gigawatts (GW) in 2023 to between 183 and 236 GW by 2030. The scale of investment is equivalent to more than a quarter of Vietnam’s 2024 GDP, highlighting the urgency the government places on energy security.
A notable shift in the plan is the reintroduction of nuclear power, nearly a decade after Vietnam shelved earlier nuclear projects following Japan’s Fukushima disaster. The government expects the first nuclear plants to be operational between 2030 and 2035, delivering up to 6.4 GW, with an additional 8 GW planned by 2050. Officials have said Vietnam may consider small modular reactors, and discussions are expected with partners including Russia, Japan, South Korea, France, and the United States.
Renewable energy remains central to the strategy. Solar power is projected to account for 25%–31% of total capacity by 2030, while onshore and nearshore wind could reach 14%–16%. The plan also targets 6–17 GW of offshore wind capacity by 2030–2035. At the same time, coal’s share will decline, while liquefied natural gas (LNG) will be added as a new power source.
Overall, the plan reflects Vietnam’s effort to balance economic growth, investor confidence, and the transition toward cleaner energy.
Cre: Vietnam adds nuclear to $136 billion plan to boost power capacity | Reuters
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