GBA Monthly Business Meeting
Vietnam Energy Future | POWER DEVELOPMENT PLAN 8: How to get deals done?
While the Power Development Plan 8 (PDP8) has gone through several drafts, the latest revision proposes increasing electricity capacity and incorporate the use of diversified sources of power in renewable energy as well as other fuel sources such as hydrogen and ammonia. This is significant as Vietnam made a commitment to be carbon neutral by 2050 at the UN’s COP26. The time taken for approval and several revisions to the PDP draft shows that government agencies have found it challenging to come to a common ground with negotiations ongoing to develop a clear plan forward for the country’s energy security.
Ho Chi Minh City, Monday 5 September – GBA Monthly Business Meeting under the theme Vietnam Energy Future | POWER DEVELOPMENT PLAN 8 (PDP-8): How to get deals done? was chaired by Dr. Oliver Massmann, Partner of Duane Morris Vietnam LLC / GBA Board Member with our keynote speaker Ms. Tien Vo, Corporate Development Lead & Strategic Advisor of Vietracimex and attracted by 50 participants.
The two speakers covered the whole session with an overview of the Vietnamese power market – a renewable energy perspective and the latest development of the PDP-8 in some brief notes:
- Key major changes of PDP8 in comparison with the amended PDP7
No new solar power projects will be connected to the national grid until 2031. The latest draft encourages development of solar power projects for self-consumption only.
Terminate all FIT regulations for solar/wind power projects pursuant to Decision 13, Decision 37 and Decision 39 so that EVN could negotiate the market power price of all transitional renewable power projects.
- Mechanisms proposed for implementing PDP-8
For solar, it is better to make use of the auction mechanism.
For wind: interested investors should keep an eye on whether your projects are included in the latest draft PDP-8.
The presentations then triggered lively discussions, where all participants gained further sharing and in-depth understanding on the challenges and recommendations regarding the PDP-8.
- Learn more about the latest updates on PDP-8 by Dr. Oliver Massmann:
Vietnam – Power Development Plan 8 Published – Latest Content of The Draft National Power Plan 8 here >>>
Vietnam – Power Development Plan 8 – PM Urges To Get It Used here >>>
We would like to thank our member Renaissance Riverside Hotel Saigon for hosting this event. Save the date for our next meeting: 7 November 2022. See you all soon!