HANOI/SINGAPORE (Reuters) – Vietnam has become a hot spot for energy investors eying a spend of up to $150 billion over the coming decade to meet surging power demand, with coal set to dominate despite signs of a government effort to go green.
With a population nudging 100 million and annual GDP growth around 7%, Vietnam has forecast power generation will need to rise from about 47,000 megawatts (MW) currently to 60,000 MW by 2020 and 129,500 MW by 2030.
To meet these targets the country will need to add more than neighbor Thailand’s total installed capacity by 2025 and its electricity sector will likely be bigger than Britain’s by the mid-2020s.
“Vietnam is a big growth story for the coal industry. Coal demand will be extremely strong,” said Pat Markey, Managing Director of Sierra Vista Resources, a Singapore-based commodity advisory.
Continue reading “In Vietnam’s booming energy sector coal reigns, but renewables play catch-up”