Power shortage may loom Vietnam in 2020 and coming years
Power shortage threatens South of Vietnam due to the delay of power projects.
Power shortage may cast its shadow over Vietnam in 2020 and afterwards, mostly in the southern region due to the sluggishness of many energy projects, local media reported, citing the Ministry of Industry and Trade.
The country may face the power shortage in 2020 if diesel-fired generators fails to meet the required capacity or lack of fuel (coal and gas) for the power generation, according to the ministry.
It said that the diesel-fueled power mobilized for 2019 would be 1.7 billion kWh and might reach 5.2 billion kWh by 2020.
More seriously, the power shortage might happen in the southern region in 2021-2025 due to rising consumption volume. The shortage might hit 3.7 billion kWh in 2021, nearly 10 billion kWh in 2022, 12 billion kWh in 2023, 7 billion kWh in 2024, and 3.5 kWh in 2025.
Under the revised Power Plan VII, the country’s total capacity may reach 95,700 MW for the 2016-2030 period but the realistic figure would be around 80,200 MW.
The power shortage in the south would be largely created by the delay of gas projects namely Block B and Ca Voi Xanh (Blue Whale) – Vietnam’s largest offshore gas project off the central city of Danang discovered in 2011 with reserves of 150 billion cu.m.
In addition, Kien Giang 1 and 2 Thermal Power projects and O Mon 2 Gas-fired Power project would fail to come operational in 2021-2025.
In case Long Phu 1 Thermal Power project fails to meet the completion deadline by 2023, the situation would be worse in 2024-2025, the ministry predicted.
The annual growth of power consumption in Vietnam in the 2016-2020 is around 10.34%-11.26%.
Illustrative photo
|
It said that the diesel-fueled power mobilized for 2019 would be 1.7 billion kWh and might reach 5.2 billion kWh by 2020.
More seriously, the power shortage might happen in the southern region in 2021-2025 due to rising consumption volume. The shortage might hit 3.7 billion kWh in 2021, nearly 10 billion kWh in 2022, 12 billion kWh in 2023, 7 billion kWh in 2024, and 3.5 kWh in 2025.
Under the revised Power Plan VII, the country’s total capacity may reach 95,700 MW for the 2016-2030 period but the realistic figure would be around 80,200 MW.
The power shortage in the south would be largely created by the delay of gas projects namely Block B and Ca Voi Xanh (Blue Whale) – Vietnam’s largest offshore gas project off the central city of Danang discovered in 2011 with reserves of 150 billion cu.m.
In addition, Kien Giang 1 and 2 Thermal Power projects and O Mon 2 Gas-fired Power project would fail to come operational in 2021-2025.
In case Long Phu 1 Thermal Power project fails to meet the completion deadline by 2023, the situation would be worse in 2024-2025, the ministry predicted.
The annual growth of power consumption in Vietnam in the 2016-2020 is around 10.34%-11.26%.
20:54, 2024/05/05
Q2/2024: Hanoi businesses expect better performance
Local companies are urged to strengthen their management and financial capabilities for sustainable operations, improved growth and enhanced competitiveness.
20:40, 2024/05/05
Companies, universities team up to develop semiconductor workforce in Vietnam
The Vietnamese government is working with institutions and companies to promote semiconductor innovation and production.
15:42, 2024/05/05
Upcoming Law on industrial park – Vietnam’s passage to attract new foreign investment wave
Industrial parks are crucial for attracting domestic and foreign investment projects, particularly leading global corporations.
22:47, 2024/05/04
Samsung and NIC partner to develop Vietnam's tech talent pool
This is the first collaboration between Samsung Vietnam and NIC to support Vietnam's goal of 50,000 semiconductor engineers by 2030.
22:10, 2024/05/04
Global tech firms interested in Vietnam’s semiconductor industry: Planning minister
High-tech companies from around the world are competing for investment opportunities in Vietnam, a Samsung executive has said.
21:53, 2024/05/04
PM urges Central bank to ensure positive growth in 2024
Local lenders are encouraged to provide incentives and attract individuals to take out consumer loans.
- Nhon – Hanoi station metro line: An example of Vietnam-EU cooperation
- Vietnamese Gov't to continue VAT cut for second half of 2024
- Four- and five-star hotels to boom in Hanoi as tourism rebounds
- Vietnam’s manufacturing sector returns to growth in April
- Vietnam on track for Q2 export breakthrough, economist predicts
- Unlocking the tourism potential of Hanoi's suburbs