The paper “Route to Market for Offshore Wind Development in Vietnam” has been published by Global Wind Energy Council (GWEC). GWEC welcomes the leadership role that the Government of Vietnam has shown with its commitment to achieve Net Zero by 2050 and its pledge to phase out coal-powered generation by the 2040s. The 7 GW of offshore wind (OFW) targeted by 2030 in the latest draft PDP 8 (April 2022 Draft) is an important step to fulfill the government’s Net Zero target and transition away from fossil fuels. The higher overall 2045 targets for onshore and offshore wind can ensure Vietnam is on track for Net Zero by 2050.
This paper outlines the urgent need for a Route to Market process to enable the installation of 7+ GW offshore wind by 2030. In particular, this paper analyses international experience of offshore wind project development timelines and procurement mechanisms to propose an appropriate pathway for Vietnam to meet its PDP 8 targets by 2030.
Access the paper here