The green energy transition in Vietnam is very promising and has great potential, however comes with many challenges that are posed by incomplete regulations at the current time and a lack of decision-making putting the country’s renewable goals in jeopardy.

Sharing his thoughts with the media, Stuart Livesey, CEO of La Gan Wind Project stressed that due to the complex nature of this industry, it requires large investments and strong commitment from foreign investors; literally billions of US dollars, much of which is spent upfront before the energy generation project. To successfully kick-start the offshore wind industry and deliver the first offshore wind capacity on time (pre-2030), the government should prioritize to provide a clear roadmap and a complete legal framework in a timely manner to ensure long-term and serious commitment from potential investors. These key regulations include survey license approval procedure, transparent investor selection process, investment policy approval process, and PPA-related issues (bankability, managing curtailment risk, etc).

Take a deeper look at the below articles to know more about Stuart’s opinions:
Bao Dau Thau: “Green” projects attract foreign investors
Bao Dau Thau: Remaining challenges in green energy transition
Bao Cong Thuong