Vingroup Proposes LNG Power Plant and Renewable Energy Projects to Vietnam’s Power Development Plan
Vingroup, a leading Vietnamese conglomerate, has recently made a proposal to include its LNG power plant and renewable energy projects in the adjusted Power Development Plan VIII (PDP VIII) and its implementation plan. The group’s initiatives aim to compensate for delays in several large coal-fired power projects across the country.
Regarding the LNG power plant
, Vingroup requested to include their proposed 5,000 MW LNG power plant in Hai Phong in the PDP VIII. With a total investment of approximately $5.5 billion, the plant is planned to be operational between 2025 and 2030.
Vingroup’s proposal aims to make up for the delayed implementation of several large coal-fired power projects, including Nam Dinh I, Quang Tri, Vinh Tan III, and Song Hau II power plants, with a combined capacity of over 6,000 MW.
Vingroup’s proposed LNG power plant in Hai Phong, Vietnam
However, the adjusted PDP VIII draft proposes different figures from Vingroup’s suggestion.
The Hai Phong LNG power project is listed with a planned capacity of 1,600 MW, only 32% of Vingroup’s proposed capacity, and a later operation phase of 2031-2035.
The draft also includes a list of 21 important and prioritized LNG power projects, with 13 projects expected to be operational by 2025-2030 and eight projects by 2030-2035.
Notably, two projects in the 2030-2035 phase, LNG Cong Thanh in Thanh Hoa province and LNG Long Son in Ba Ria-Vung Tau province, with capacities of 1,500 MW each, could be accelerated and completed by 2026-2030 if the power system demands it.
In terms of the power source structure by 2030
, the total capacity of power plants serving domestic demand (excluding exports) is projected to be 183,291-236,363 MW. LNG-fired power is expected to contribute 22,524 MW (9.5-12.3%), while flexible power sources (including LNG, oil, and hydrogen-fired power plants with high operational flexibility) will account for 2,000-3,000 MW (1.1-1.3%).
Investment needs for the 2026-2030 period
are estimated at $136.3 billion, with $118.2 billion allocated for power source development and $18.1 billion for the transmission grid.
For the 2031-2035 period, investment needs are projected at $130 billion, with $114.1 billion for power sources and $15.9 billion for the transmission grid, and will be further refined in subsequent plans.
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