Vingroup Proposes 5,000 MW LNG Power Plant in Hai Phong, Draft Electricity Planning VIII Only Allows 1,600 MW and Delays 5 Years

Vingroup (VIC) has proposed to include a 5,000 MW LNG thermal power plant in Hai Phong in the revised Electricity Planning VIII (PDP VIII), targeting implementation from 2025 to 2030, with a total investment of approximately $5.5 billion. This proposal aims to compensate for delays in several large thermal power projects. However, the revised PDP VIII draft only approves a capacity of 1,600 MW for the Hai Phong LNG project, delaying its operation to 2031-2035. The draft also includes 21 important and prioritized LNG electricity projects, with 13 expected to be operational from 2025 to 2030. By 2030, the total national electricity capacity is projected to reach 183,291-236,363 MW, with LNG thermal power accounting for about 9.5-12.3%. Investment for the 2026-2030 period is estimated at $136.3 billion, with $118.2 billion allocated for electricity sources.