Vietnam's trade ministry, in a report to the prime minister cited by state media, said delays across power plants and transmission lines risk shortages starting next year. It noted only 5% of projects in the national growth plan have reached operation, describing progress as "very slow." Most projects are still being developed or waiting on approvals, with bottlenecks around picking investors, land procedures, and preparing the grid.
Officials expect supply to cover demand this year. After that, faster consumption and slippage on new builds could leave the country short by 4,200 megawatts of capacity next year and about 2.9 billion kilowatt-hours of electricity. By 2030, that gap could expand to around 13,900 MW and 61.2 billion kWh.
Vietnam aims to expand its economy by no less than 10% each year until the end of the decade, a target that is propelling power needs faster than the grid can be expanded. The fragility showed up in 2023 when drought shrank hydropower reservoirs, prompting blackouts that hit factories and industrial parks in the north.
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To curb the chance of future shortfalls, the ministry reiterated its call to expand coal-fired power, positioning it in place of imported liquefied natural gas projects, which have been set back because the conflict in the Middle East has disrupted fuel supplies. The ministry also backed faster-to-build renewables and proposed speeding up solar, including roughly 2,800 MW to be installed on public buildings such as government offices, schools and hospitals by June.
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