Vietnam Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution, and Technology, Regulations, Key Players and Forecast, 2022-2035

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Vietnam Power Market Report Overview

The Vietnam power market had a cumulative installed capacity of 76.2 GW in 2021. Thermal power has the dominant share in the total power capacity followed by renewable and hydropower share. Furthermore, the industrial sector accounted for the highest share of power consumption across Vietnam in 2021.

Vietnam Power Market Outlook 2021-2035
Vietnam Power Market Outlook 2021-2035

The market research report discusses the Vietnamese power market structure. It provides historical and forecast numbers for capacity, generation, and consumption up to 2035. The report also analyzes the Vietnam power market’s regulatory structure and competitive landscape.

Market Size (2021) 76.2 GW
Historical Period 2010-2021
Forecast Period 2022-2035
Regulatory Scenario (Renewable Energy) ·       Ministry of Industry and Trade (MoIT)
Leading Players ·       Vietnam Electricity Group

·       PetroVietnam Power Corp

·       Vinacomin-Power Holding Corporation Limited

·       Malakoff Corporation Bhd

Key Deal Types ·       Asset Transactions

·       Debt Offerings

·       Equity Offerings

·       Partnerships

·       Acquisitions

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Vietnam Power Market Dynamics

Vietnam meets its generation requirements from coal- and gas-based thermal power plants and a vast number of hydropower plants. Vietnam’s energy mix is dominated by hydropower, coal, and gas. The country’s thermal power sector accounted for more than 55% share in the total annual power generation in 2021. However, the increase in thermal resources in power generation has been a source of concern for the government because, Vietnam’s coal reserves are depleting, and the government is looking to expand the energy mix.

The government is aware of the need to alleviate the climate change effects of thermal power generation and is turning towards renewable power generation sources. The Vietnam power sector presents significant opportunities for renewable, hence the government is emphasizing the development of the renewable power industry. Wind, solar power, and biopower hold large potential for development. The government has announced feed-in tariffs (FiTs), and other policies for these energy sources, which will lead the renewable power sector to grow in the country.

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Vietnam Power Market - Competitive Landscape

Vietnam’s power generation market is dominated by Vietnam Electricity Group which contributed a share of over 39% in total power generation. This was followed by PetroVietnam Power Corp and Vinacomin Power Corporation.

Vietnam Power Market Analysis by Leading Companies, 2021 (%)
Vietnam Power Market Analysis by Leading Companies, 2021 (%)

Vietnam Power Market Segmentation by Deal Types

In 2021, asset transactions dominated the Vietnam power market, followed by partnerships and acquistions.

Vietnam Power Market Analysis by Deal Types, 2021 (%)
Vietnam Power Market Analysis by Deal Types, 2021 (%)

Key Segments Covered in this Report.

Vietnam Power Type Outlook (2021-2035)

  • Industrial Sector
  • Residential Sector
  • Commercial Sector
  • Transport Sector

Vietnam Power Deal Type Outlook (2021-2035)

  • Asset Transactions
  • Debt Offerings
  • Equity Offerings
  • Partnerships
  • Acquisitions

Scope

The Vietnam power market report includes the following:

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential of the power sector
  • Statistics for installed capacity, generation, and consumption from 2010 to 2021, and forecast to 2035
  • Capacity, generation, and major power plants by technology
  • Data on leading active and upcoming power plants
  • Information on transmission and distribution infrastructure, and electricity imports and exports
  • Policy and regulatory framework governing the market
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector
  • Identify key factors driving investment opportunities in the country’s power sector
  • Facilitate decision-making based on strong historic and forecast data
  • Develop strategies based on the latest regulatory events
  • Position yourself to gain the maximum advantage of the industry’s growth potential
  • Identify key partners and business development avenues
  • Identify key strengths and weaknesses of important market participants
  • Respond to your competitors’ business structure, strategy, and prospects

Vietnam Electricity
PetroVietnam Power Corp
Vinacomin-Power Holding Corporation Limited
POSCO Energy Co Ltd

Table of Contents

| Table of Contents

| About GlobalData

| Table of Contents

1 Executive Summary

1.1 Coal to dominate power sector till next decade

1.2 Solar PV capacity to witness rapid growth between 2021-2035

2 Introduction

2.1 Vietnam Power Market

2.2 GlobalData Report Guidance

3 Vietnam Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

3.6 Impact of COVID-19

4 Vietnam Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

– Deal Value and Volume, 2010–2021

– Deals by Type, 2021

4.4 Vietnam Power Market, Demand Structure

– Power Consumption by Sector, 2021

5 Vietnam Power Market, Regulatory Scenario

5.1 Thermal Power Policy, Vietnam, Overview

5.2 Renewable Energy Market, Overview

5.3 Introduction of Competition in Power Market

5.4 Power Master Plan VII

5.5 Revised Power Development Plan VII

– Targets for Renewable Energy

5.6 Power Development Plan VIII

5.7 Renewable Energy Development Strategy 2016–2030 with outlook until 2050 (REDS)

5.8 Vietnam National Energy Efficiency Program (VNEEP)

– Proposed VNEEP Phase 3, 2019-2030

5.9 National Green Growth Strategy

– National Green Growth Strategy 2021-2030

5.10 Rural Electrification Program

5.11 Feed–in Tariffs (FiTs)- Decision No.39/2018

– Solar and Wind Power Feed-in-Tariffs

– Biopower Feed-in-Tariffs

– Avoided Cost Tariff (AVCT) for small hydro

5.12 New Tariff Mechanism (Revised Net Metering Scheme- Decision 02/2019)

5.13 Model Power Purchase Agreements

– Solar PPA Model

– Wind Power PPA Model

5.14 Direct Corporate Power Purchase Agreement (DPPA)

– Market access through CPTPP and EUVNFTA

5.15 Local Provincial Rules for renewable energy development

5.16 New Solar Development Plan

– New Tariff Guidelines for Solar Rooftop Projects

5.17 Competitive Auction Mechanism

5.18 Other incentives for Renewable Power Projects

6 Vietnam Power Market, Capacity and Generation

6.1 Cumulative Capacity by Technology, 2021

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Power Capacity and Generation, 2010–2035

6.4 Hydropower Capacity and Generation, 2010–2035

6.5 Renewable Power Capacity and Generation, 2010–2035

7 Vietnam Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Grid Connections

7.4 Electricity Import and Export

8 Vietnam Power Market, Major Generating Companies

8.1 Vietnam Electricity

– Company Overview

– Business Description

– SWOT Overview

8.2 PetroVietnam Power Corp

– Company Overview

– Business Description

8.3 Vinacomin-Power Holding Corporation Limited

– Company Overview

– Business Description

8.4 POSCO Energy Co Ltd

– Company Overview

– Business Description

9 Appendix

9.1 Abbreviations

9.2 Market Definitions

– Power

– Renewable Power

– Installed Capacity

– Electricity Generation

– Electricity Consumption

9.3 Methodology

– Coverage

– Secondary Research

– Primary Research

– Modelling and Forecasting

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Table

| List of Tables

Table 1: Power Market, Vietnam, Macroeconomic Factors, 2010–2030

Table 2: Share of Energy Sources in Original and Revised Power Development Plan VII (%), Vietnam, 2020–2030

Table 3: Targets for Renewable Energy Sources in Original and Revised Power Development Plan VII (%), Vietnam, 2020–2030

Table 4: Renewable Energy Targets for Total Primary Energy Consumption, Vietnam, 2020–2030

Table 5: Vietnam, Result from VNEEP Phase 1 and Phase 2

Table 6: Power Market, Vietnam, Cumulative Capacity and Annual Generation, 2010–2035

Table 7: Power Market, Vietnam, Cumulative Capacity and Annual Generation Share by Technology, 2000–2030

Table 8: Thermal Power Market, Vietnam, Cumulative Capacity and Annual Generation, 2010–2035

Table 9: Thermal Power Market, Vietnam, Major Plants, 2021

Table 10: Hydropower Market, Vietnam, Cumulative Capacity and Annual Generation, 2010–2035

Table 11: Hydropower Market, Vietnam, Major Plants, 2021

Table 12: Renewable Power Market, Vietnam, Cumulative Capacity (GW), 20010–2035

Table 13: Renewable Power Market, Vietnam, Annual Generation (TWh), 2010–2035

Table 14: Renewable Power Market, Vietnam, Major Plants, 2021

Table 15: Power Market, Vietnam, Transmission Line Length (Ckm) by Voltage Level, 2010–2026

Table 16: Power Market, Vietnam, Distribution Line Length (Ckm) by Voltage Level, 2010–2026

Table 17: Power Market, Vietnam, Planned Interconnection Projects

Table 18: Abbreviations

Figures

| List of Figures

Figure 1: Power Market, Vietnam, Thermal Power Capacity and Generation

Figure 2: Power Market, Vietnam, Cumulative Capacity by Technology (%), 2021

Figure 3: Power Market, Vietnam, Country Summary, 2021

Figure 4: Power Market, Vietnam, Macroeconomic Factors, 2010–2030

Figure 5: Power Market, Vietnam, Market Structure

Figure 6: Power Market, Vietnam, Market Share of Generation Companies (%), 2021

Figure 7: Power Market, Vietnam, Deal Value and Number of Deals, 2010–2021

Figure 8: Power Market, Vietnam, Deals by Type (%), 2021

Figure 9: Power Market, Vietnam, Annual Power Consumption, 2010–2035

Figure 10: Power Market, Vietnam, Power Consumption by Sector (%), 2021

Figure 11: Power Market, Vietnam, Cumulative Capacity by Technology (%), 2021

Figure 12: Power Market, Vietnam, Cumulative Capacity and Annual Generation, 2010–2035

Figure 13: Power Market, Vietnam, Capacity Share by Technology, 2010–2035

Figure 14: Power Market, Vietnam, Annual Generation Share by Technology, 2010–2035

Figure 15: Thermal Power Market, Vietnam, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Hydropower Market, Vietnam, Cumulative Capacity and Annual Generation, 2010–2035

Figure 17: Renewable Power Market, Vietnam, Cumulative Capacity, 2010–2035

Figure 18: Renewable Power Market, Vietnam, Annual Generation, 2010–2035

Figure 19: Power Market, Vietnam, Annual Electricity Import and Export, 2010–2021

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