EVN proposes offshore wind power price cap of 0.15 USD/kWh in northern Vietnam

Vietnam Electricity (EVN) has proposed a regional electricity price framework for offshore wind power projects, with the highest suggested rate in the northern region reaching VND3,975.1 (about $0.15) per kWh.

According to EVN, the proposed price cap is based on input parameters developed by the Institute of Energy and updated in accordance with the Vietnam-Denmark Technology Handbook.

While no detailed feasibility studies have been completed for offshore wind projects to date, preliminary calculations have been categorized by region.

Specifically, the proposed framework sets the price at 3,975.1 VND/kWh for the northern region (including Quang Ninh, Hai Phong, and Thai Binh), 3,078.9 VND/kWh for the south-central coastal region (Binh Thuan), and 3,868.5 VND/kWh for the southern region (Ba Ria-Vung Tau).

EVN stated that if the proposal is approved by its board of members, the price framework will be submitted to the Ministry of Industry and Trade for official consideration and promulgation.

Previously, EVN also submitted price caps for onshore wind power at 1,643.89 VND/kWh and nearshore wind power at 1,913.67 VND/kWh.

Under the recently revised Power Development Plan VIII, Vietnam aims to achieve 6,000 MW of offshore wind power capacity by 2030.