Status Of Vietnam's Offshore Wind Projects

With its long coastline Vietnam has a large potential to generate energy from offshore wind. This is especially true in the South, South Central and the Mekong Delta regions. The Government expects that 6,000 MW will be generated from wind power projects within the next five years. The capacity of offshore wind power projects ("OWPP") could reach 90,000 MW by 2050. The problem, however, is that to date, there is no detailed guidance on the development of OWPPs. This has caused several companies to retrench and to curtail their development activities. But, the Government is drafting a Decree that will provide regulations on renewable energy projects (including OWPPs). This Article will discuss notable points of the current Draft Decree that relate to OWPPs.