New Energy
Vietnam Has $135 Billion Plan to Slash Coal-Fired Power by 2030
- Prime minister has signed off on long-anticipated blueprint
- Nation plans to eliminate use of the fuel completely by 2050
A coal power plant in Binh Thuan province, Vietnam.
Photographer: Manan Vatsyayana/AFP/Getty Images
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Vietnam has approved a long-anticipated $134.7 billion plan to slash its use of coal-fired electricity generation by the end of the decade.
Under the blueprint signed late Monday by Prime Minister Pham Minh Chinh, the funds will be spent on more renewable energy and improving the country’s grid. Coal generation would drop to 19% of power supply by 2030 from almost half now. The aim is then to get it to zero by the middle of the century, which would require further investment of as much as $523.1 billion.