The relocation of manufacturing capacity from China to Vietnam amid US trade tariffs has contributed to industrial growth and increased electricity demand. In January–September 2026, electricity generation at Vietnam's coal-fired power plants rose by 15% to a record 132.9 TWh.
Since 2018, Vietnam's average monthly exports to the United States have increased by more than 400% to $22 billion, nearly matching China's exports to the US ($22.9 billion). Electricity demand in Vietnam has grown by almost 50% since 2019, while coal's share of electricity generation reached 52% in 2026, increasing the country's dependence on coal-fired power.
According to McKinsey, Asia will require up to $1 trillion in annual energy investment over the next 15 years to ensure energy security. By 2040, the region is expected to account for approximately 70% of global growth in energy demand. The energy consumption forecast has been revised upward by 15% to 370 million terajoules.
Coal is expected to retain a significant share of the region's energy mix, as declining consumption in China will be offset by growth in India and Southeast Asia. Meanwhile, annual investment in solar and wind energy is projected to reach $300 billion through 2040, while the development of biofuels could reduce fuel imports by $90–100 billion.
Over the past year, Bulgaria has doubled its battery energy storage capacity from 3 GW to 6 GW. The sector's expansion has been supported by €700 million in EU grants and private investment. As a result, electricity exports increased by 62% to 3.5 TWh.
The expansion of energy storage systems has made it possible to store surplus solar electricity and export it to neighboring countries during periods of peak demand. Bulgaria's average retail electricity price, excluding taxes, stood at €0.1117 per kWh, compared with €0.1967 per kWh in Greece.
Further development of the sector is constrained by limited electricity grid capacity and a narrowing gap between daytime and evening electricity prices, reducing project profitability.
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