Vietnam Ramps Up Wind and Solar Targets to Meet Soaring Energy Demand

In a bold move to tackle rising electricity needs and reduce coal dependence, Vietnam has significantly revised its renewable energy targets under the updated Power Development Plan 8 (PDP8). The Southeast Asian nation now aims to become a regional clean energy leader by aggressively boosting its wind and solar capacity.

According to the revised PDP8, solar power capacity is set to reach 73 GW by 2030, a massive leap from the earlier target of 12.8 GW. Onshore wind power is also expected to increase to 38 GW, up from 21 GW. By 2050, the government projects solar capacity to rise to 296 GW and wind power to hit 230 GW.

The Ministry of Industry and Trade revealed plans to raise Vietnam’s total installed power capacity to 236 GW by 2030, compared to over 80 GW in 2023. To support this expansion, the country is allocating more than $136 billion toward developing its power infrastructure.

As part of its energy transition strategy, Vietnam plans to reduce coal’s share in the energy mix to 17% by 2030, with a full phase-out by 2050. Additionally, the plan includes the introduction of nuclear energy, with the first plant expected to be operational by 2035.

These aggressive targets follow energy shortages experienced during the 2023 heatwave and reflect Vietnam’s push to enhance energy security while attracting foreign investment.

Industry stakeholders have raised concerns about the need to modernize Vietnam’s power grid and ensure transparent policies that maintain investor confidence—especially amid recent disputes over renewable energy pricing.