On 26 June 2025, the Ministry of Industry and Trade (MOIT) issued Decision No. 1824/QD-BCT approving the electricity generation price framework for offshore wind power projects in 2025 ("Decision 1824"). Decision 1824 sets out ceiling tariffs for offshore wind power projects in different regions, reflecting the differences in investment and operating conditions. According to Decision 1824, the ceiling tariffs of offshore wind power projects are as below:
Regions North region Southern region South Central region
Ceiling tariffs VND3,975.1/kWh, equivalent VND3,868.5/kWh, equivalent VND3,078.9/kWh, equivalent
to 15.49 US cents/kWh to 15.07 US cents/kWh to 11.99 US cents/kWh
It is worth noting that these ceiling tariffs match the previous proposal of Electricity Vietnam (EVN). According to EVN, the development of the electricity generation price framework is based on the calculation of the average investment rate for offshore wind power development in Vietnam, currently estimated at VND93,565 million per kW, equivalent to VND93 billion per MW, according to the exchange rate of VND25,450/USD. According to Decision 1824, EVN and offshore wind power generators will sign power purchase agreements on the basis of compliance with the price framework as set out by the MOIT.
Please do not hesitate to contact Dr. Oliver Massmann under omassmann@duanemorris.com if you have any questions on the above. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.
