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Vietnam’s electricity production estimated to reach 293.3 billion kWh in 2024

Vietnam’s electricity production for December 2024 is projected to be 23.9 billion kWh, with an estimated total of 293.3 billion kWh for the entire year, according to Vietnam’s General Office of Statistics. This reflects a year-on-year increase of 9.6 percent compared to 2023, indicating strong growth in the sector.

In November 2024, the country produced 23.8 billion kWh of electricity, maintaining steady output despite a slight increase in December.

Vietnam’s electricity production plays a crucial role in driving the country’s rapid industrialisation, urbanisation, and economic growth. The energy mix includes coal-fired power, hydropower, natural gas, and a rapidly growing share of renewable energy such as solar and wind power. Vietnam is one of Southeast Asia’s largest electricity producers, with total installed capacity exceeding 80 GW in recent years, catering to the needs of industries, businesses, and households.

Coal-fired power dominates the electricity generation mix, accounting for nearly half of the country’s total output, driven by abundant domestic coal reserves and large-scale thermal power plants. Hydropower is also significant, contributing about 30 percent of electricity production, thanks to Vietnam’s favourable topography and river systems. Natural gas-fired power plants and renewable energy sources make up the remainder, with renewables like solar and wind seeing a rapid rise due to government incentives and private sector investment.

The renewable energy sector has experienced a boom in recent years, with Vietnam becoming one of the leading solar energy producers in Asia. Projects in wind energy, particularly offshore wind farms, are also growing rapidly, supported by the government’s commitment to reducing greenhouse gas emissions and transitioning to a greener energy mix.

Despite this progress, Vietnam’s electricity sector faces challenges, including rising energy demand, transmission bottlenecks, and the need to phase out coal in the long term. To address these issues, the government is focusing on diversifying energy sources, upgrading transmission infrastructure, and encouraging private investment through its Power Development Plan VIII (PDP8).

With sustained investment in renewable energy and grid modernisation, Vietnam’s electricity production sector is expected to continue evolving, ensuring a stable and sustainable power supply for its growing economy.

See also: Electricity in Vietnam: Overview

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