We expect coal-powered generation growth to increase rapidly over the next decade and to dominate Vietnam’s power sector expansion. We forecast coal-powered generation to grow at an average of 10.1% y-o-y to reach about 50.5% of the power mix by 2028.
This is due to relatively slow supply growth from traditional sources of energy such as hydropower and natural gas, with the government set to turn to coal to meet the surge in demand for power.
Over the longer-term, we stress that there are downside risks for coal power due to increasing environmental concerns – notably due to a…
