Vietnam Plans $136 Billion Power Expansion with Nuclear Integration

Vietnam has approved a revised national power development plan that allocates $136.3 billion by 2030 to expand its electricity generation capacity to between 183 and 236 gigawatts, up from over 80 GW in 2023. The plan prioritizes renewable energy, aiming for solar to become the leading electricity source by 2030, contributing over 25% of the power mix, while coal and LNG shares are set to decline. For the first time, nuclear power is included, with initial plants expected online between 2030 and 2035 and a projected capacity of up to 6.4 GW. Offshore wind development is reintroduced, although its progress will depend on cost and feasibility, with onshore and nearshore wind expected to bridge supply gaps. The strategy also emphasizes renewable energy exports to neighboring countries and seeks to attract foreign investment by ensuring a reliable power supply. These measures reflect Vietnam’s commitment to a low-carbon future and reducing its reliance on coal.