The Vietnamese government has just approved a new power development plan (PDP8) to transform the country鈥檚 energy sector and help it achieve its long-term goal of reaching net zero by 2050.
The finalised plan is considered a vital step in unlocking funding for renewable energy projects. It outlines the聽US$134.7bn (拢107.2bn) investment聽required to transform Vietnam鈥檚 energy production and provides insight into the opportunities for foreign energy firms in this market.
The G7 group of nations has already approved funds of US$15.5bn, reported Royal HaskoningDHV.
PDP8 is intended to ensure energy security, prioritising the development of renewable energy. It will see the wide-scale modernisation of infrastructure and introduce new and sustainable production methods to the country.
The plan will more than double Vietnam鈥檚 power generation capacity, from 69GW at the end of 2020 to 150GW by 2030. The government hopes to achieve carbon neutrality by 2050.聽
Royal HaskoningDHV is anticipating opportunities to contribute to projects designed to make the shift from fossil fuels to renewable energy. Ironically, it expects one of the major growth areas to be in the development of import terminals for liquid natural gas (LNG), a non-renewable fossil fuel.
鈥淟NG is the cleanest non-renewable energy resource currently available and plays a key role in energy transition,鈥� the company said in an online statement. 鈥淥ver the last 20 years, we鈥檝e helped plan and design marine facilities for more than 100 LNG terminals using the latest digital technologies and our in-depth knowledge of engineering and local markets.鈥�
The company already has a strong presence in Vietnam with more than 200 staff located there since 1985. In recent years, Royal HaskoningDHV has been involved in several major infrastructure and energy projects, including the LNG import terminals at Son My, Ca Na and Thi Vai, a petrochemical refinery at Nghi Son and a number of wind farms and container terminals.
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