Supporting Offshore Wind Development in Vietnam

Project Summary:

The development objective is to support the Government of Vietnam in (i) accelerating the implementation of decarbonization pathways and (ii) adopting climate resilient considerations for infrastructures developments in the power and transport sectors.

List of Activities:

• Integrating offshore wind planning into National Marine Spatial Planning (MSP)
• Formulating financing and investment strategy for offshore wind development
• Piloting marine use zoning for selected provinces and stakeholder engagement

Outcomes:

• Offshore wind planning integrated into the National Marine Spatial Planning will constitute an important part of Vietnam’s overall energy decarbonization roadmap by establishing a concrete foundation for Vietnam to tab into the country’s great offshore wind potential
• Inform the first pilot offshore wind project implemented by Electricity of Vietnam
• Increased mobilization of green growth investment
• Adoption of Green Growth Policies, Regulations, Strategies, and Initiatives
• Increased Capacity, Knowledge, and Technologies to Implement Green Growth in Action

Collaboration with K-Partners and Others:

• The primary partnership will be with the Korean Ministry of Oceans and Fisheries, which would mark the World Bank’s first cooperation with MOF.
• The team will secure a focal point in MOF to seek alignment with the MOF's ODA activities and potential collaboration on knowledge sharing and capacity building.
• Korea Maritime Institute (KMI) confirmed its willingness and capacity to cooperate on the technical/ analytical work of the proposed activity.
• Within the World Bank, this program already builds on ESMAP’s offshore wind development window, and the program will also reach out to the new PROBLUE initiative with great potential to obtain funding and technical assistance from it on marine spatial planning.