Vietnam’s Power Development Plan VIII (PDP8) implementation challenges were discussed at a 17 August seminar in Ho Chi Minh City. Stuart Livesey, EuroCham Board member and Vice-Chairman of the EuroCham Green Growth Sector Committee, gave a presentation focused on offshore wind development. The seminar was organized by the National Assembly’s Committee on Science, Technology, and Environment; and the Scientific Council of Vietnam Energy Review
Mr. Livesey emphasized the importance of exclusivity arrangements for offshore seabed surveys to enable early development work. He recommended awarding exclusivity based on selection criteria and project progress milestones.
Regarding the PDP8 target of 6GW of offshore wind by 2030, Mr. Livesey proposed an accelerating mechanism using pilot projects. He suggested 3GW as pilot projects, mixing 500MW and 1GW installations. State-owned enterprises and experienced private companies could play leading roles in these pilots. The remaining 3GW could be developed through competitive auctions.
The presentation also underlined the need for a clear investor selection path with unambiguous qualifying criteria, a transparent regulatory pathway, and controlled subsidies to encourage stable offshore wind growth.
Mr. Livesey further highlighted the necessity of certainty around revenue, investment and returns. This includes having functional power purchase agreements in place without second round negotiation of financial submissions. Guarantees on grid capacity and availability, regulatory transparency and fairness, and sufficient time to build infrastructure were also raised.
Other recommendations brought up throughout the seminar covered improving PPA bankability, expanding energy storage, implementing market-based electricity pricing, conducting spatial planning for pilot projects, and clarifying auction frameworks. Enhancing international cooperation and learning global best practices were emphasized as well.
