23.02.2021, 13:14

Vietnam needs over US$128 billion for power investment next 10 years

Vietnam needs over US$128 billion for power investment next 10 years

A drone is used to inspect a power transmission system in Vietnam. The country will need an estimated US$128.3 billion for developing the power system in the next decade – PHOTO: VNA

HCMC – The total amount of investment for developing the power system in Vietnam in the next decade is an estimated US$128.3 billion, with US$95.4 billion needed for investing in electricity generation and the remaining for the power grid, as unveiled in a draft zoning plan for developing the national power system in the 2021-2030 period, with a vision toward 2045.

The Institute of Energy, under the Ministry of Industry and Trade, on February 22 continued to collect feedback over the plan from the relevant agencies.

According to the plan, during the 10-year period, Vietnam will need to pour some US$12.8 billion on average into the power sector per year. The total investment for the following 15 years from 2031 to 2045 will be some US$192 billion, including some US$140 billion for power sources and US$52 billion for the grid.

The draft zoning plan also revealed that Vietnam will continue to import electricity from China, Laos and Cambodia in the next 10 years.

The State-run Vietnam Electricity Group is purchasing electricity from China through two 220kV power lines, with 1.5 billion kWh of power being bought annually during the 2016-2020 period. This northern neighboring market can sell up to 3,000 MW of electricity or more to Vietnam from now until 2030.