Deputy Prime Minister Bùi Thanh Sơn emphasized that the revision of Power Development Plan 8 is an urgent task. Accordingly, renewable energy sources must be maximized based on the potential and strengths of each region; inter-regional and inter-provincial transmission lines should be developed appropriately to minimize the overall electricity production costs.

In particular, economic sectors are encouraged to invest in power development, including transmission grid investments, based on the principles of fair competition and a market-driven electricity pricing mechanism. This ensures a balance of interests among stakeholders while meeting the development needs of different regions.

Given the substantial investment demand for the power sector—averaging around USD 27 billion per year from 2026 to 2030—Deputy Prime Minister Bùi Thanh Sơn stressed the need for breakthrough solutions to mobilize investment capital.

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At the online conference between the Government and 63 provinces and cities on February 23, the Ministry of Industry and Trade proposed the urgent development of a list of critical projects for the 2026–2030 period, along with accompanying mechanisms to accelerate their implementation. It also recommended introducing policies to encourage the development of solar and wind power, particularly in northern Vietnam.

Additionally, there is a need to develop and refine legal policies on electricity pricing, including a two-component electricity tariff for both consumers and power sources, as well as pricing for ancillary services. Penalties should also be imposed on projects that experience delays.

Notably, according to the Ministry of Industry and Trade, many localities have requested the inclusion of additional solar and wind power sources in the revised Power Development Plan 8 to attract investment and achieve double-digit economic growth. Specifically, Điện Biên province aims to prioritize renewable energy development, especially wind and solar power, in disadvantaged areas to attract investment and drive growth. Meanwhile, Đà Nẵng and Hải Phòng anticipate a surge in electricity demand in economic zones, industrial parks, and data centers. Lâm Đồng province, on the other hand, aspires to become a hub for training high-quality human resources in nuclear energy.

Source: Thanh Niên Newspaper – "Mechanisms to Encourage Solar and Wind Power Development in Northern Vietnam to Be Introduced."