Gov't approves National Power Development Plan 8

2:24:28 PM | 5/23/2023

The Government has approved the National Power Development Plan for the 2021-2030 period (NPDP8), giving priority to the development of renewable energy.

The plan targets increase the share of renewable energy to 30.9-39.2 percent by 2030 and 67.5 – 71.5 percent by 2050.

Offshore wind power capacity is expected to reach at least 6.000 WM by the end of this decade and 70.000-91.500 WM by 2050.

The development of offshore wind power will be combined with the development of other types of renewable energy such as solar power, onshore wind power.

The Government estimates that total capacity of offshore wind power for new energy production should reach about 15.000 MW by 2035 and around 240.000 MW by 2050.

From now to 2025, there is no limit to the capacity of rooftop solar power development provided that the prices are reasonable and the existing transmission network is not overloaded, particularly in the areas where power shortage is likely to occur.

Total investment capital for power generation and transmission is estimated at US$ 134.7 billion for the 2021-2030 period and US$399.2 – USS$523.1 billion for the 2031 – 2050 period.

Source: VGP