In the wave of global energy transition, Vietnam is becoming a highly anticipated emerging market in the Asia Pacific region with its ambitious offshore wind power plan. According to the latest information from the Global Wind Energy Council (GWEC), Vietnam is striving to achieve its offshore wind power development goals by introducing innovative competitive investor selection models. It is expected that the installed capacity will reach an astonishing 17 gigawatts (GW) by 2035.

The core driving force behind this grand blueprint lies in the competitive investor selection model advocated by the Vietnamese Ministry of Industry and Trade. This model aims to efficiently and transparently screen the most powerful developers through market-oriented mechanisms to ensure the successful implementation and operation of the first batch of offshore wind power projects.

It is reported that Vietnam plans to adopt a clear two-stage investor selection process for projects led by non-state-owned enterprise developers. This design not only helps attract diversified international capital and advanced technology, but also optimizes project solutions through full competition, ultimately achieving the goal of reducing development costs and improving investment efficiency. This move marks Vietnam's shift from traditional administrative resource allocation methods to a more market-oriented and specialized project development path.

This series of measures is rooted in the top-level design of Vietnam's national development. In its latest revised "Eighth National Power Development Plan" (PDP8 revised version, April 2025), Vietnam has set a clear step-by-step goal for offshore wind power: to achieve 6GW by 2030 and further reach 17GW by 2035. The plan also predicts that in order to achieve this goal, the offshore wind power industry needs to maintain a steady growth rate of about 10% per year. This long-term and firm policy signal has injected strong confidence into domestic and foreign investors.

The Global Wind Energy Council commented, "With these clear goals and innovative mechanisms, Vietnam is expected to surpass many regional competitors and rise to become the third largest wind power market in the Asia Pacific region after China and Australia. Its enormous resource potential and continuously improving policy environment are making it a highly attractive destination in the eyes of global renewable energy investors." Keywords: wind power new energy, wind power new energy news, wind power energy network

Vietnam's rapid deployment in the field of offshore wind power is not only a key step towards achieving energy security and low-carbon transformation, but also clearly reflects the new trend of renewable energy development in Southeast Asia and even globally. By activating market vitality through competitive mechanisms and guiding investment with clear long-term goals, Vietnam's model provides valuable reference for other emerging economies. If this strategy is successfully implemented, Vietnam will not only reshape its energy structure, but also occupy an important position in the global green energy map. Editor/Xu Shengpeng