越南海上风电竞争投资者选择研究（英）_92页_90mb

Vietnam Offshore Wind Competitive Investor Selection Study Summary

Executive Summary

Vietnam's offshore wind (OFW) sector holds significant growth potential, with estimated technical potential exceeding 600 GW. The government targets 6 GW by 2030 and 70–91.5 GW by 2050 under PDP8. However, regulatory bottlenecks, unclear authority structures, and delays in permitting hinder project development. A two-stage competitive investor selection process is proposed to address these issues, ensuring cost-effective electricity tariffs, project delivery, and market confidence.

Key Objectives

1. Project Delivery: Ensure awarded projects meet feasibility and development timelines.
2. Market Confidence: Establish a transparent, objective, and non-discriminatory selection process.
3. Cost-Effective Tariffs: Award competitive electricity prices for OFW projects.

Proposed Two-Stage Model

1. Stage 1: Exclusive Survey Rights

   • Competitive selection (non-price-based) for exclusive survey rights to be held for at least 10 years.
   • Criteria: Project feasibility, capability/experience, risk management, and socio-economic benefits.
   • Bidding process: Sealed bid to minimize collusion and simplify implementation.

2. Stage 2: PPA Award

   • Price-only competitive selection for Power Purchase Agreements (PPA) with Vietnam Electricity (EVN).
   • Duration: 20-year fixed or indexed PPA to enhance bankability.
   • Criteria: Bid price, capped at a ceiling set by the Ministry of Planning and Investment (MPI).

Current Legal and Regulatory Challenges

• Site Selection: Lack of clear guidelines for overlapping surveys and seabed allocation.
• Investor Selection: Absence of mandatory competitive processes for OFW under existing laws (Investment Law, Bidding Law).
• PPA Framework: Uncertainty in pricing and negotiation procedures; current PPA template lacks international standards.

Legal and Regulatory Reforms

1. Marine Spatial Planning (MSP): Complete the NMSP Implementation Plan to designate specific OFW zones.
2. Investment Policy Decision (IPD): Clarify authority for OFW IPDs and integrate site survey awards.
3. Bidding Process: Align the Bidding Law to include OFW projects and ensure bankable PPA templates.

Alternative Options (Without Comprehensive Reform)

• Competitive awards for site surveys or IPD applications under existing frameworks (e.g., open bid or competitive selection).
• However, practical issues (e.g., long PPA negotiations) may hinder implementation.

Conclusion

Vietnam Offshore Wind offers immense potential for energy transition and economic growth. Timely legal and regulatory reforms are critical to unlock this potential through a structured, competitive investor selection framework. Delayed reforms risk stranding projects, eroding investor confidence, and delaying decarbonization goals.