Vietnam’s offshore wind (OSW) targets in doubt

“To meet the PDP8 scheduled target, the OSW projects should have been identified, investors selected, and permits issued by now,” according to a blog post from the law firm Shearman and Sterling. The law firm points out that the typical lead time for OSW projects is 5 to 7 years and that Vietnam’s target is 6 gigawatts by 2030. It also says there may be opportunities for investment in a pilot program in southern Vietnam, that power purchase agreement regulations need to be addressed to attract foreign financing, and that delays in approving wind survey permits by the Ministry of Natural Resource and Environment (MONRE) is also creating issues.