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markets Vietnam

In Vietnam, the electricity demand is expected to grow by around 8% per year until 2025. The country is facing massive grid problems impacting EVN's ability to connect power generation and demand. The electricity tariffs have increased by an average of 5% per year in the past decade.

Full service network across Vietnam

Key figures

  • 30 years of Vietnam operations
  • #1 In lpg and lubricants
  • 1000+ Vietnam employees
  • $200M Annual Revenue in Vietnam
  • Developing $1.5b EVN Gas to power plant
  • 50 MW of solar panels in 2019

Full service network across Vietnam

  • TOTAL is uniquely positioned to be your long term energy partner
  • We are using our existing footprint to provide operations and maintenance support
  • Implementing global experience locally

EVN prices historically increased 5%p.a. but up 8.36% in ‘19

Installed Power Capacity (2016)

Energy sector overview

  • Power demand expected to grow by 10.6%/year until ‘20, then 8.5% until ’25, slowing to 7.5%/year from ’26.
  • Electricity production has increased by 12%/year since ‘00.
  • Massive grid problems impacting EVN’s ability to connect power generation to demand.

Average electricity prices, industrial users

Electricity tariffs evolution (C&I)

  • Prices have increased by >5% in the past decade to about 8.4US cents/kWh for industrial users
  • Grid tariff below generation costs and poor grid requiring infrastructure investments and plans for liberalization of the sector
  • These point to faster increases in grid tariff in future


Government Lead Initiatives:

  • Renewable Energy Sources targets: Vietnam Renewable Energy Target 2016-2030 (PDP 7):
    • 6.5% renewable energy generation by 2020 and 10.7% by 2030
    • 710-800MW of wind by 2020 and 6GW by 2030
    • 850MW of PV by 2020 and 12GW by 2030
  • Carbon reduction target – INDC 2015:
    • Unconditional: by 2030, GHG reduction of 8% compared to BAU
    • Conditional: up to 25% if international support


  • Net metering (Circular 16): on an annual basis to rooftop PV systems connected to the grid, on buildings with bidirectional meters. Excess electricity credits after one year will be sold to EVN at the FiT rate of 2086 VND/kWh (9,35 c$/kWh) for 20 years, with annual adjustment to the USD/VND exchange rate
  • FiT for systems < 1 MW can be installed outside the development power plan. For > 1 MW, mandatory power sector licensing

Project Reference