HCMC – Vietnam needs US$133 billion to US$135 billion for electricity generation and transmission projects until 2030, according to the Ministry of Industry and Trade.
The ministry has written to the Government proposing a plan to implement the National Electricity Master Plan for the period 2021-2030, with a vision to 2050.
As per the plan, the country is expected to invest an average of US$11.3 billion to US$13.5 billion annually in electricity generation and transmission projects until 2030.
By 2025, the total investment in electricity projects nationwide is estimated to exceed US$57 billion, with power generation accounting for 84% of the total. In the subsequent five years, power generation projects will require US$72 billion for investment and construction, while transmission projects will need US$6 billion.
One of the notable projects waiting for implementation is the new 500 kV power transmission line from Quang Trach, Quang Binh Province to Pho Noi, Hung Yen Province.
It has a total length of 514 kilometers and costs around US$1 billion. Its purpose is to enhance electricity transmission from the southern and central regions to the north, ensuring a stable power supply for the north of the country.
Funding for the National Power Development Plan VIII’s electricity projects will come from the State budget and other sources, said the Ministry of Industry and Trade.
These electricity generation and transmission projects will require nearly 86,500 hectares of land, with approximately 46,236 hectares needed between 2022 and 2023, and the remainder over the next five years.