Vietnam can deliver the PDP 8 offshore wind target, but only with the rapid resolution of these key items:
A process for surveying, permitting and licensing which outlines how developers obtain acreage, exclusive development rights, which permits are required and how to obtain them.
A renumeration mechanism for offtake of offshore wind (OFW) to allow the first tranche of projects to achieve financial close and begin construction before 2025, which should consider a Transition Mechanism before a competitive auction.
PPA and financing issues need to be addressed, including the bankability concerns of the current wind PPA around curtailment, arbitration, termination and other areas.
Grid, power evacuation and locational issues, e.g. building OFW in the north of Vietnam to ease transmission bottlenecks, needs to be clearly addressed with the ability to differentiate between areas with better wind resources.
Clarity on transmission planning and support, including who owns, pays for and builds the offshore transmission infrastructure.
A marine spatial planning (MSP) framework which addresses cross-sector use and conflict resolution for ocean space (shipping channels, acreage for wind, defense exclusions, commercial fishing, tourism and other ocean uses) and clearly defines the areas for OFW energy.
Supply chain development planning to strengthen local industry.