Does Vietnam need a battery energy storage system?

Vietnam currently lacks a regulatory and pricing framework for battery energy storage systems (BESS) to provide ancillary services, which has hindered interest in PDP8’s modest target of 300 MW BESS by 2030.

Why is Vietnam revising its long-term power development plan?

Vietnam is revising their long-term power development plan less than two years after its release, as previous capacity expansion targets have become unrealistic. The urgency to fill immediate supply gaps leaves planners with limited options: a razor-sharp focus on renewables, battery storage, and electricity imports from now until 2030.

Why should Vietnam invest in a hydropower plant?

The plant is expected to boost national energy security and support Vietnam’s transition to a greener, more sustainable economy. Pumped storage hydropower operates like a giant battery, storing excess electricity during off-peak hours and releasing it when demand is high.

How long will Vietnam's master power development plan last?

Vietnam’s energy planners have gone back to the drawing board, revising the country’s master power development plan, PDP8. Released in 2023, it was meant to last at least five years, laying out the national power system blueprint up to 2030. However, the core targets have quickly proven to be unattainable.

Does Vietnam have a power supply problem?

Vietnam is confronting this supply challenge at a time when the national power system has been under strain for years. Since the COVID-19 pandemic, the state utility Electricity of Vietnam (EVN) has been forced to rely on a combination of contingency measures to tackle widespread blackouts.