In accordance with the forecast, Vietnam’s energy demand shall increase more than 10% per annum from 2016 to 2020, and 8% per annum from 2021 to 2030. In order to meet the increasing energy demand, Vietnam shall need 60,000MW in 2020, 96,500MW in 2025 and 129,500MW in 2030.
The Government has revised the Energy Development Plan aiming at enhancement of power output from various renewable energies such as biomass, solar energy and wind. The Electrify Vietnam 2019 is to provide an interactive platform for potential investors and key players of the industry from over 25 countries to get updated on the new directions, investment policies and market potential of the energy and power sector in Vietnam; at the same time discuss strategies and share insights to support the National Power Development Plan.
According to Mr. Phan The Anh – Deputy General Director, Southern Affairs, Ministry of Industry and Trade, information gained from the conference shall help enterprises, foreign investors to improve the knowledge and in-sights on Vietnam energy market in general and new policies, market’s potential in particular.
Addressing at the seminar, Mr. Nguyen Huu Chinh – Deputy General Director of PECC1 said PECC1 with the consulting, designing experience for over 50 years, has been involved in lots of the national key projects. The Company keeps being the leading firm in application of the most advanced technologies in projects and also the leading Consultant in various fields. He also briefed the status and potential of current Vietnam power market in general and stressed on status, demand as well as development plan of hydropower in particular. Accordingly, Vietnam has planned 824 hydropower projects with Nplanning = 24,778MW (95.3 eoconomic potential), in which 343 projects have been put into operation with Ninstalled capacity = 17,987MW, 165 projects have been under construction with Ninstalled capacity = 3,348MW. Presently, Vietnam has been studying 260 projects with Ninstalled capacity = 3,050MW (12.31% against Nplanning). It can be seen that although the hydropower potential in Vietnam has been basically planned (up to 95.3% total capacity of economic potential); completed and under construction projects gained 86.1% planning capacity, hydropower projects remain the attracting market for investors thanks to their unreplaced role (peak load for load diagram, power system balance) and being the most feasible renewable energy in terms of econo-financial indicators.
Also at the conference, there was exhibition displaying products, services of well-known corporations, companies and firms in the world. This was a very good chance for enterprises, investors, project developers to contact, exchange and share experiences with each other and establish the cooperative relation in the future.
PECC1 introduced our products, services and exchanged experiences to visitors.