More than $10 billion per year to develop the power sources and grid in the 2021-2030 period
The demand for investment capital for the development of power sources and grids averages US$10-11.5 billion per year by 2030.
Transmission lines are installed to connect renewable energy plants in Thuan Nam District, Binh Thuan Province.
This is stated in the draft national electricity development planning for 2021-2030, with a vision to 2045 (power planning VIII) that has just been submitted to the Government by the Ministry of Industry and Trade after many revisions and reviews.
According to the draft, the total investment capital required to implement the electricity development programme will be about $99 - 116 billion in the 2021-2030 period, equivalent to US$10-11.5 billion per year.
In which, the average capital for power source development is $8.57-10.15 billion per year; while the capital for the transmission grid is about $1.36-1.44 billion a year.
The power planning this time is developed with the aim of ensuring an adequate supply of electricity in the country, meeting the socio-economic development goals of the whole country with an average GDP growth rate of about 6.6 per cent per year in the 2021-2030 period and about 5.7 per cent per year in the 2031-2045 period.
Among the set targets, exploiting and effectively using renewable energy sources for electricity production is a priority, increasing the proportion of electricity produced from renewable energy sources to about 11.9. - 13.4 per cent by 2030 and about 26.5 - 28.4 per cent by 2045.
The power source development plan by 2025 targets that the total capacity of power plants will be about 102,590 - 105,265MW.
Of which, hydroelectricity will reach 25,323 megawatts (MW), accounting for 24.1 - 24.7 per cent; coal-fired power plants 29,679MW, accounting for 28.2 - 28.9 per cent; gas thermal power (including LNG) 14,117MW, accounting for 13.4 - 13.7 per cent; renewable energy sources 29,618 - 31,418MW, accounting for 28.9 - 29.8 per cent; and electricity imports 3,853 - 4,728MW, accounting for 3.7 - 4.5 per cent.
By 2030, the total capacity of power plants will be about 130,371 - 143,839MW and the total capacity of power plants will be about 261,951-329,610MW by 2045.
Power source development in recent years has been at odds with load distribution, and many coal-fired power plants expected to operate in the last five years are behind schedule.