IMPLEMENTATION ON THE NATIONAL POWER DEVELOPMENT PLAN
Authored by Asia Counsel’s energy expert, Mai Phuong, Nguyen (Mina), our latest legal update illuminates this transformative initiative that targets a net-zero emission future and a meaningful enhancement in renewable energy integration.
In May 2023, the Prime Minister of Vietnam issued Decision 500/QD-TTg, approving the National Power Development Plan (“PDP VIII”) for the period of 2021 to 2030, with a vision to 2050. This ambitious plan aims to achieve net-zero emissions by 2050 and increase the share of renewable energy in the national electricity mix. To implement PDP VIII effectively, the Ministry of Industry and Trade (“MOIT”) has prepared and proposed an implementation plan, which was recently approved by the Prime Minister under Decision No. 262/QD-TTg on 1 April 2024 (“Implementation Plan”). In this article, we will explore the key contents of the Implementation Plan.
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