Offshore Wind Development in Vietnam and Philippines
Vietnam is a new offshore wind (OFW) market that has world-class wind resources, a long coastline, and strong fundamentals for growth which could make offshore wind a significant component of its future energy mix. The national Power Development Plan 8 (PDP8) targets 6 GW of offshore wind installations, projected to contribute approximately 4% to the total installed capacity. Philippines has emerged as a pivotal player in the offshore wind (OFW) industry, propelled by progressive policies streamlining permits, encouraging foreign participation, and the introduction of a marine spatial tool (MSP). The Philippine Energy Plan (PEP) aims for a 35% share of renewables in the power mix by 2030 and 50% by 2040.
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