GWEC: ‘Vietnam’s Future Transition to Offshore Wind Auctions: International Best Practices and Lessons Learned’

Source: press release, 22 July 2021

illustration: GWEC
illustration: GWEC

Global Wind Energy Council (GWEC) has released a report in cooperation with Renewables Consulting Group (RCG) on Vietnam’s Future Transition to Offshore Wind Auctions: International Best Practices and Lessons Learned, which examines six active offshore wind geographies that have undertaken transitions to offshore wind auctions: the UK, Germany, Denmark, France, Taiwan, and the Netherlands, and looks at best practices and lessons learned from their transitions to auctions that can be applied to Vietnam’s future offshore wind sector.

Vietnam is a nascent offshore wind market, with world-class wind resource and strong fundamentals which can make it an offshore wind leader in South East Asia. Under the current development pipeline, the first true large-scale offshore wind projects are not likely to be connected to the grid until 2026 or later, and they lack a clear regulatory framework to support their development.

The infancy of the offshore wind sector in Vietnam means that policy is still being formulated. It is incredibly important to ensure that future policy is designed for steady and sustainable growth, providing sufficient time for the offshore wind industry to take off and mature.

To mark the launch of the report, GWEC and RCG will be hosting a webinar with the report authors, and speakers from Vietnam’s Institute of Energy and leading developers CIP and Ørsted.