Vietnam proposes offshore wind power price cap

Prices have been submitted for onshore and nearshore projects.

Vietnam Electricity (EVN) is looking into implementing a pricing framework for offshore wind projects in the country.

EVN said the proposal “is based on input parameters developed by the Institute of Energy and updated in accordance with the Vietnam–Denmark Technology Handbook.” 

“Whilst no detailed feasibility studies have been completed for offshore wind projects to date, preliminary calculations have been categorised by region,” the state utility noted.

The proposed cap specifically sets the price at $0.15 per kilowatt-hour (kWh) (VND 3,975.1 per kWh) for the northern region covering Quang Ninh, Hai Phong, and Thai Binh; $0.12 per kWh (VND 3,078.9 per kWh) for the south-central coastal region; and $0.15 per kWh (VND 3,868.5  per kWh) for the southern region.

If approved by the EVN Board of Members, the price framework will be submitted to the Ministry of Industry and Trade for official consideration and promulgation.

EVN has submitted price caps for onshore wind power at $0.06 per kWh (VND 1,643.89 per kWh) and nearshore wind power at $0.07 per kWh (VND 1,913.67 per kWh).

Vietnam aims for 6,000 megawatts of offshore wind power capacity by 2030 under its revised Power Development Plan VIII.

$1 = VND 25980.00