Official Letter No. 6633/BCT-DL of Ministry of Industry and Trade regarding the request for comments on the draft report to the Prime Minister on the assessment of the implementation status and policy for adjusting the VIII power plan.

09/02/2025

In the draft report, the Ministry of Industry and Trade reports to the Prime Minister on the implementation of the VIII Power Plan, approved in Decision 500/QD-TTg dated May 15, 2023, with the following main contents:
(i) Electricity Load: The growth rate of commercial electricity reached 13.7% in the first seven months of 2024, higher than forecasted. However, achieving the growth target for the 2021-2025 period is challenging, necessitating a review and adjustment.
(ii) Gas and LNG Power Sources: While some projects have been operational or are under construction, many face investment difficulties. There is a risk of power capacity shortages during the 2026-2030 period unless comprehensive solutions are implemented.
(iii) Coal Power: Many coal power projects are facing funding difficulties, with some transitioning to LNG. The development of coal power is hindered by emission commitments and funding challenges.
(iv) Hydropower: Although there is development potential, it requires caution due to natural disasters and climate change. The Ministry recommends reviewing and assessing the feasibility of hydropower sources.
(v) Wind Power: Achieving the target for wind power by 2030 is challenging, and no offshore wind projects have been implemented yet.
(vi) Solar Power: There is a need to promote the development of rooftop and floating solar power to offset potential power shortages from other sources.
(vii) Power Grid: Some grid projects are facing challenges due to a lack of synchronization with the progress of power sources. A review and adjustment of the grid plan are necessary.

The report on the implementation of PDP8 reflects significant difficulties in ensuring electricity supply, particularly for the 2026-2030 period.