Vietnam’s power requirement to rise seven folds to 135,756 MW by 2030

But the country appears incapable to meet the soaring demand as only 30% of the $40 billion investment capital needed for the development of a power sector less reliant to hydropower by 2015 is currently met.

Speaking at Power Gen Asia in Malaysia, Yuwa Parameswaran, project consultant of Singapore-based research firm Global Data said that demand for power is projected to grow 11% annually from 2000-2030. By 2030 energy requirement in Vietnam is expected to rise seven folds to 135,756MW from just 16,900MW in 2010.
 

Mr. Parameswaran noted that the country is seeking to reduce dependence on hydropower due to low water levels at hydroelectric plants. Hydroelectric power plants currently supply around 60% of the power demand of the country while the rest are sourced from thermal energy.
 

By 2015, the country targets an energy mix of 40% hydropower, 50% thermal and 10% nuclear as Vietnam considers establishing a nuclear power plant. The prospect however seems dim according to Mr. Parameswaran as the country still struggles to attract investors.
 

“The current financial capability of Vietnam is only 30% of the $40 billion investment capital requirement for the development of power sector by 2015,” he said
 

Independent power producers according to Mr. Parameswaran only contribute 22% of the total investment capital requirement.