Price framework for offshore wind power released

The Ministry of Industry and Trade has approved the electricity generation price framework, applicable to offshore wind power plants in 2025, according to a report from the Government News.

Accordingly, the maximum price for offshore wind power plants in Northern Vietnam shall be VND3,975.1 ($0.15) per kWh; in Central Vietnam shall be VND3,078.9 per kWh; and in Southern Vietnam shall be VND3,868.5 per kWh.

The electricity generation price framework shall serve as the basis for the Electricity of Viet Nam (EVN) and power generation companies to sign power purchase contracts.

The Government targets to raise offshore wind power capacity to around 6,000 MW by the end of this decade, and 17,500 MW by 2035.

The offshore wind power capacity is expected to reach 113,000-139,000 MW by 2050.