THE SOCIALIST REPUBLIC OF VIET NAM
Government News
NA approves Resolution on national energy development, paving way for offshore wind power
VGP - The Prime Minister has the authority to approve investment guidelines and select investors for offshore wind power projects during the 2025–2030 period without requiring land-use rights auctions or bidding procedures for investor selection, according to a Resolution approved by the National Assembly.
The Resolution on mechanisms and policies for national energy development for the 2026–2030 period stipulates that the chairpersons of provincial People's Committees will be delegated the mentioned-above authority in the 2031–2035 phase, creating greater initiative and flexibility for coastal localities.
The Resolution, adopted at the on-going session held in Ha Noi on December 11, consists of 16 articles. It provides an important foundation for developing sustainable energy and ensuring energy security to meet economic growth targets in the new period.
It expands the participants eligible for the direct power purchase agreement (DPPA) mechanism, allowing retail electricity units to take part in to promote a competitive electricity market and accelerate the transition to clean energy.
Under the Resolution, key tasks for the 2026–2030 period include ensuring energy security, meeting double-digit economic growth demands, and contributing to the goal of achieving carbon neutrality by 2050.
According to the World Bank (WB), Viet Nam has the technical potential of nearly 600GW of offshore wind power in its nearshore waters.
The Government of Viet Nam targets to raise offshore wind power capacity to around 6,000 MW by the end of this decade, and 17,500 MW by 2035.
The offshore wind power capacity is expected to reach 113,000-139,000 MW by 2050./.