November 2024: Following the issuance of the new Electricity Law dated 30 November 2024 (“New Electricity Law”), the Ministry of Industry and Trade of Vietnam (MOIT) has released the initial drafts of several government decrees and MOIT circulars detailing certain aspects of the new Electricity Law for public comments. One such decree is the Draft Decree of the Government on the development of renewable energy and new energy, which covers specific regulations on self-produced and self-consumed power (“Draft New Decree”). This Draft New Decree is proposed to replace the Government’s Decree No. 135/2024/ND-CP dated 22 October 2024 (“Current Decree No. 135”) with respect to self-produced and self-consumed rooftop solar power. The Draft New Decree broadens the scope of self-produced and self-consumed power mechanism to include new energy sources such as green hydrogen and green ammonia. This represents a significant expansion beyond the limitations of the Current Decree No. 135, which only applied to rooftop solar.
November 2024: On November 30, 2024, the National Assembly of Vietnam officially adopted the new law on electricity, known as the "New Electricity Law." This law will come into effect on February 1, 2025, replacing the current electricity law along with its consolidated prior amendments. This New Electricity Law is the most significant legal document governing Vietnam's power and energy sector. It introduces comprehensive reforms to the legal framework after two decades of implementing the 2004 electricity law. These regulations affect new energy sources such as green hydrogen and green ammonia.
Source: Vietnam adopted new Electricity Law 2024
April 2024: As part of the energy transition roadmap, Vietnam has acknowledged the importance of hydrogen and recently made initial steps in the regulatory formulation for the development of hydrogen.
Together with the recently approved national power development master plan (PDP8) and its implementation plan as well as the national overall master plan for energy, on 7 February 2024, the Prime Minister of Vietnam issued Decision No. 165/QD-TTg approving the national strategy for the development of hydrogen to 2030, with a vision to 2045 ("Hydrogen Strategy"). The Hydrogen Strategy lays the preliminary foundation for the development of hydrogen in the upcoming period by officially setting out the viewpoints, goals, directions, and the relevant implementation tasks and measures. Accordingly, this marks a significant step in Vietnam's transition to green energy, focusing on new and clean energy sources (including hydrogen).
Source: Vietnam sets a development roadmap for hydrogen under national strategies and master plans