Vietnam lowers power capacity in latest national plan update

Vietnam eyes to reduce its planned power capacity by 2030 by over 13 percent to 155,700 megawatts in the latest revision of the national power plan.

This equates to a drop of nearly VND800 trillion ($34.48 billion) in investment, Deputy Minister of Industry and Trade Dang Hoang An told a meeting Friday, referring to Power Development Plan VIII for the 2021-2030 period with vision to 2045.

The ministry also lowered the planned capacity for 2045 by 9.7 percent to 333,590 megawatts.

In the update, the ministry has excluded solar power capacity from the country’s energy backup capability to ensure power security.

This is because solar power is unstable, and “a cloud passing by could reduce capacity by 40 percent,” An said.

Without solar power, backup capacity is 43 percent the total, which can ensure system safety.

Some investors and experts also contributed ideas for power development over the next decade.

Mathias Hollander, senior manager at Copenhagen Offshore Partners, said Vietnam could develop 5-10 gigawatts of offshore wind power by 2030, creating $60 billion in added value to the economy.

Strong offshore winds could increase power by 50 percent to the level of hydropower, he added.