News Flash - Power Development Plan 8

the long awaited Power Development Plan 8 has just been approved by the Prime Minister on 15 May 2023, under Decision 500QĐ/TTg. The power development plan is closely aligned with the net zero commitments made by the government at various international forums, including CoP26.

The country plans to completely phase out coal by 2050. There is a significant focus on renewables, particularly onshore and offshore wind. Renewables are expected to comprise of majority of the installed capacity of the nation by 2050. The focus on Gas/Hydrogen is in line with the global energy transition trend.

The plan for power generation capacity mix is in the below table.