Of the amount, 75% would be spent on new power plants, with priority given to renewable sources, and 25% on grid expansion, Deputy Minister of Industry and Trade Dang Hoang An said in a statement.
Vietnam, a regional manufacturing hub, needs to increase its installed power generation capacity by around 10% a year to support its fast-growing economy and population. "Vietnam will not add new coal-fired power plants to its master power development plan, and will only continue coal projects that are under construction until 2030," An said.
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