- Vietnam plans to begin its first offshore wind project by year-end.
- PDP VIII targets 6,000 MW of offshore wind capacity by 2030.
- Government aims for 28–36% renewable energy in power mix by 2030.
According to Deputy Minister of Industry and Trade Nguyen Hoang Long, the initiation of Vietnam's first offshore wind power project is anticipated to begin by the end of this year.
During a Saturday roundtable with UK business representatives investing in Vietnam, Long informed the Prime Minister that numerous significant private economic groups in Vietnam have presented proposals to establish offshore wind power initiatives, in light of the Politburo's Resolution 68 on the development of the private economy.
At present, Vietnam lacks any offshore wind energy initiatives. As per the updated Power Development Plan VIII (PDP VIII), the nation intends to achieve 6,000 MW of offshore wind capacity by 2030, 17,500 MW by 2035, and between 113,000 and 139,000 MW by 2050.
In late February, the Ministry of Industry and Trade suggested postponing offshore wind development until post-2030, pointing to the substantial initial investment requirement, estimated at approximately $60-70 billion, and the absence of any projects with sanctioned investment decisions at that time.
However, the Government’s Standing Board continued to instruct the ministry not to delay the schedule for advancing these projects. The modified PDP VIII for the 2021-2030 timeframe, aiming for 2050, was endorsed by Deputy Prime Minister Bui Thanh Son on April 15, 2025.
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The strategy aims for a goal of increasing power production by 2030, with renewable sources representing 28-36%. It seeks to guarantee an adequate power supply to support an average GDP growth of 10% annually from 2026 to 2030 and approximately 7.5% from 2031 to 2050.
The electricity generated and brought in by 2030 is projected to attain 560.4-24.6 billion kWh, increasing to 1,360.1-1,511.1 billion kWh by 2050. By 2030, the overall capacity of power plants meeting local demand (not including exports) ranges from 183,291 to 236,363 MW.
The updated strategy indicates that the enhancement of onshore, nearshore, and offshore wind energy, along with solar energy, particularly solar power on water surfaces, will be reinforced.
The development will align with the system's absorption capacity, featuring reasonable prices and transmission expenses, while ensuring operational safety and economic efficiency of the power system, effectively utilizing the current grid infrastructure.