The power generation mix in Vietnam is expected to “significantly transform” in the next two decades.
That will follow the modernisation of the nation’s agrarian economy to become a more industrialised nation, according to a new report.
The country plans to add “substantial” coal-fired capacity and build the first nuclear reactors in southeast Asia as well as the first offshore wind farm in Asia. The renewable project is expected to begin operation next year.
The US Energy Information Administration (EIA) predicts demand in Vietnam to continue to grow at recent annual growth rates of 10% – 12%. It is expected to rise from 169TWh this year to around 615TWh by 2030.
In its 2013 Country Nuclear Power Profile, the country forecast a 2015 generating capacity of just over 40MW, increasing to nearly 140GW by 2030 to meet the projected rise in demand.
Increased foreign investment in the past decade has also resulted in greater natural gas exploration. The country is said to produce as much gas it uses.
“The installation of this new generating capacity will require new transmission and distribution (T&D) infrastructure. Electricity Vietnam (EVN), the state-owned utility, is pursuing the dual challenge of modernising this infrastructure while also installing greater electric generating capacity. Securing international investment in planned generating capacity and infrastructure is also critical”, the EIA states.