Energy & Infrastructure Insight - Issue 4

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Page 40 of 55

S H E A R M A N & S T E R L I N G L L P | 3 9 INSIGHTS Future Challenges to Vietnam's Remarkably Rapid Renewable Ramp-up BY JEAN-LOUIS NEVES MANDELLI AND ANNA LAM Vietnam's Power Development Master Plan, the latest draft of which was released in February this year (PDP 8), reflects Vietnam's commitment to prioritize renewable energy projects in its energy mix. PDP 8 sets targets for wind at 18-19 GW and for solar at 19- 20 GW by 2030. The state-owned electric utility, Vietnam Electricity (EVN), operates as a monopoly "single-buyer" and is the sole offtaker of all power generated in the country (though the Vietnamese government is seeking to develop a pilot program for corporate PPAs with industrial offtakers). Continued overleaf

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