Revised Power Development Plan VIII: Cautious optimism for renewable energy
• Vietnam’s Revised National Power Development Plan VIII (RPDP8), approved in April 2025, sets more ambitious energy targets to support 10% annual GDP growth. The plan prioritizes the expansion of wind and solar power, boosting installed capacity by up to 16-55% and reinforcing Vietnam’s long-term shift towards renewable energy.• Under RPDP8, solar and wind power will receive significant capacity boosts to meet rising industrial demand and offset slower LNG development. In contrast, gas-fired projects see limited progress due to high costs and challenges in execution.
• RPDP8 faces major challenges in capital mobilization, infrastructure readiness, and technological capability. Addressing price regulation, outdated support mechanisms, and weak grid and supply chains will be critical to turning these targets into reality.
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