On 15 May 2023, the Prime Minister of Vietnam issued Decision No. 500/QD-TTg, approving the National power development plan for the period between 2021-2030 and setting out the vision for 2050 ("PDP VIII").
PDP VIII sets out the roadmap for the development of energy sources and grid infrastructure, including for the renewable energy service and industry in Vietnam. It also includes planning for grid connections with neighbouring countries.
PDP VIII takes into account the commitments given by Vietnam in the Just Energy Partnership (JEPT), with priority given to renewable energy sources. It is expected that by 2030, renewable energy will account 30.9% to 39.2% of Vietnam's power sources (and by 2050, it will reach 67.5% to 71.5%). PDP VIII also sees phase out of coal-powered electricity generation by 2050 (and coal-fired plants are to be converted into clean energy or ammonia by this time).
In terms of legislative plan, PDP VIII paves the way for the amendment of the current Law on Electricity and the initiation of the drafting of a separate law on renewable energy.
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