Adding 1,000 MW of capacity from offshore wind or liquefied natural gas (LNG) projects in Vietnam will take three to four years to reach operation, even after all administrative procedures are completed, according to a deputy general director of the country's state-owned power utility, EVN.
The executive emphasized that the lengthy lead times for new generation assets mean the grid cannot rely on immediate supply boosts to meet rising demand, urging a focus on electricity conservation in the interim.
The comment underscores the structural rigidity of Vietnam's energy infrastructure.
While LNG and offshore wind are critical components of the country's long-term decarbonization and energy security strategy, the multi-year development cycle creates a significant gap between current demand growth and available supply.
This lag is particularly acute as Vietnam's industrial base expands and electrification rates climb, putting pressure on the national grid during peak seasons.
For investors and traders, the timeline reinforces the view that near-term power shortages in Vietnam may persist, potentially impacting industrial output and increasing reliance on existing thermal assets.