Vietnam and Russia discuss offshore wind power development
08:00 | 10/04/2026
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| Deputy Minister of Industry and Trade Nguyen Hoang Long meets with the consortium of Zarubezhneft and Rosatom to discuss offshore wind power development in Vietnam, April 8, 2026, in Hanoi. |
At the meeting, the consortium presented its investment plans and expressed interest in guidance on Vietnam’s regulatory framework to optimise the implementation roadmap for offshore wind projects.
The consortium emphasized the importance of obtaining direct investor approval from the Prime Minister, without competitive bidding, to shorten project preparation time and accelerate project implementation. Rosatom also highlighted its experience in renewable energy and its commitment to providing advanced technologies to support energy security.
In response, the Ministry of Industry and Trade provided updates on the revised Power Development Plan VIII. The roadmap is divided into two phases:
• 2025–2030: 6,000 MW to be approved directly by the Prime Minister;
• 2031–2035: 11,500 MW to be approved by local authorities through competitive bidding.
The Ministry also shared information on potential offshore wind development areas in the South Central region, particularly in Binh Thuan.
Deputy Minister Nguyen Hoang Long recommended that the consortium carefully study the revised power plan and current regulations on sea area allocation to define an appropriate investment strategy. Securing an initial 500 MW project would provide a solid foundation for scaling up future developments through optimized infrastructure costs.
He also stressed that being granted a marine survey area does not guarantee investor status, while survey activities may involve significant costs and risks if the investor is not selected through bidding.
Under current regulations, winning investors must approve feasibility studies within 24 months and finalize power purchase agreements within 30 months of signing project contracts. Electricity prices follow the annual tariff framework, with offshore wind power in 2025 estimated at around VND 3,000/kWh in the South Central region.
While price is a key factor in project selection, additional criteria such as job creation, contributions to local budgets, and especially localization rates will also be prioritized./.
