A new report by the Global Wind Energy Council in cooperation with the renewable resources advisory group found that Vietnam is facing a key crossroads in its energy system planning and now has the opportunity to take action to accelerate the deployment of offshore wind power in this decade.

The first batch of large-scale offshore wind power projects may not be connected to the grid until 2026 or later. For these initial projects, there is an urgent need for clear policies and transparent procurement mechanism, because the current feed in tariff mechanism for offshore wind power will expire in November 2021.

Vietnam's draft pdp8 energy plan contains a real offshore wind power target of 2gw by 2030. However, the high interest of industry and investors shows that Vietnam can increase its ambition to 10GW by 2030 to meet the rapidly growing power demand and improve energy security. The report makes a number of recommendations on the long-term growth and sustainability of the offshore wind sector to achieve this higher goal.