Vietnam PM approves $135 billion power plan for 2030

Vietnam's prime minister approved a long-awaited power plan for this decade that needs $134.7 billion of funding for new power plants and grids, the government said late on Monday, in a move that may help unlock billions of dollars of foreign investment. The plan is important to unlock an initial investment of $15.5 billion in green-transition funds pledged to Vietnam in December by the Group of 7 (G7) nations and other wealthier countries. The country would also aim to generate green energy for exports, with a target of 5-10 gigawatts (GW) by 2030. The country would also aim to generate green energy for exports, with a target of 5-10 gigawatts (GW) by 2030. Coal would still account for 19% of the mix by 2030, followed by hydropower with 18.5%, wind energy with 17.6% and solar power 13.0%, according to the draft.