Vietnam

Vietnam continues to consolidate its position as one of the most dynamic wind markets in Southeast Asia, supported by strong political commitment, robust electricity demand growth and clear long-term capacity targets. In 2025, the country is moving decisively from policy ambition towards implementation, with both offshore and onshore wind entering a new phase of regulatory refinement and market structuring.

Offshore wind

Under the revised PDP8 (April 2025), Vietnam targets 6-17 GW of offshore wind by 2030-2035 and 113-139 GW by 2050, placing offshore wind at the centre of the country's long-term energy transition strategy.

Offshore wind policy advanced significantly following the National Assembly's adoption, in December 2025, of a Resolution on national energy development for 2026-2030. The resolution creates a fast-track mechanism for offshore wind development whereby the prime minister selects developers for several gigawatts of offshore wind projects, providing clear top-level direction for early-phase deployment. Work is ongoing to finalise competitive investor selection mechanisms and further clarify the PPA structure. Together, these developments are laying the foundations for large-scale, internationally financeable offshore wind projects.

Supporting regulations are progressively being introduced. Decree 65/2025/ND-CP establishes a clear framework for seabed allocation and site survey licensing, while a 2025 tariff framework provides initial pricing references across sea zones. Four site survey licences have been awarded to developers so far, with survey lidars expected in the water this year. An earlier decree, 58/2025/ND-CP of 3 March 2025, guides the revised Electricity Law and includes specific provisions for offshore wind, such as extending the CfD term to 15 years (minimum 80% contracted capacity), requiring SOE participation in offshore wind projects (over 50% for the pilot project; at least 5% for FDI-led projects), and setting timelines (24 months) for surveys and PPAs with EVN (30 months).