Vietnam Revised Power Development Plan VIII

In April 2025, Vietnam approved Decision No. 768/QD-TTg, updating the National Power Development Plan VIII (PDP8) to reflect evolving market conditions and reinforce the country’s commitment to sustainable growth and energy security. The revised PDP8 significantly increases renewable energy targets with onshore and nearshore wind capacity raised to 26,066-38,029 MW by 2030, up from the original 21,880 MW target, while offshore wind capacity increased from 6,000 MW to 17,032 MW. Battery storage capacity targets jumped dramatically to 10,000-16,300 MW from the previously planned 300 MW. Notably, the revised plan reintroduces nuclear power with the Ninh Thuan 1&2 plants expected to commence operations between 2030-2035, providing 4,000-6,400 MW of baseload capacity.

The revised PDP8 requires $134.7 billion in investment by 2030 and up to $523 billion by 2050, creating substantial opportunities for U.S. energy companies. American firms are well-positioned due to technological leadership in renewable energy systems, nuclear technology, advanced grid infrastructure, and energy storage solutions. U.S. companies excel in offshore wind technology, smart grid systems, and nuclear power plant development that are critical to Vietnam’s energy goals. Opportunities span wind equipment manufacturing, grid modernization technology, nuclear engineering services, and energy management software. However, challenges remain including regulatory frameworks, grid readiness, investor guarantees, and project financing mechanisms that private sector companies must navigate.

For more information on energy sector opportunities in Vietnam, please contact Janice Tran, Commercial Specialist at the U.S. Commercial Service Vietnam at Office.Hanoi@trade.gov and Office.HoChiMinhCity@trade.gov