(Engineering Daily) Nguyen Anh Duong = Vietnam's power demand is expected to continue to increase.
According to local sources in Vietnam, demand for electricity in Vietnam is expected to increase 8.5 percent annually by 2025 and 7% annually by 2030.
The increase in demand is attributable to continued economic growth, as Vietnam's economic growth is expected to grow 6.5-7.5% annually by 2030.
As a result, domestic and foreign companies are reportedly continuously investing in power projects such as the GW La Gan offshore wind power generation project involving Danish companies.
Meanwhile, there are 92 solar and wind power plants operating in Vietnam and 10 wind power plants, respectively, with a total power output of 6GW.
As a result, the unit price of electricity purchased through renewable power generation plunged 24.2% from 2017 as of 2019, but the construction volume of power plants is expected to increase due to the continued increase in demand.