New Regulations On Offshore Wind Power Survey And Investment Requirements

Survey entities must have minimum equity capital of VND 1 billion for each megawatt (MW) of offshore wind capacity for which they request a designated sea area to conduct surveys. If a survey entity applies for sea areas covering multiple offshore wind projects, its minimum equity must correspond to the combined installed capacity (MW) of all proposed projects…

This is one of the key eligibility requirements for offshore wind project survey entities introduced under Government Decree No. 272/2026/NĐ-CP, which provides detailed guidance and implementation measures for several provisions of National Assembly Resolution No. 253/2025/QH15 dated December 11, 2025 on mechanisms and policies for national energy development during the 2026-2030 period.

The Decree provides detailed regulations for Articles 4, 10, 11, and 12 of Resolution No. 253/2025/QH15, including guidance on:

• Dossier requirements, procedures, and processes for updating power development plans and provincial electricity network development plans;
• Eligibility requirements for offshore wind project survey entities;
• Conditions applicable to enterprises preparing investment policy approval applications for offshore wind projects;
• Procedures for receiving and processing applications for investment policy approval;
• Procedures for receiving and processing offshore wind survey proposals;
• Coordination mechanisms between authorities responsible for investment approval applications and survey applications;
• Approval of investors for power grid investment projects.

Requirements for Offshore Wind Survey Entities

Under the Decree, a survey entity refers to an organization requesting the allocation of a sea area to conduct surveys for offshore wind power development.

Survey entities must satisfy the following three requirements:

1. Minimum Equity Requirement

The entity must possess minimum equity capital of VND 1 billion for each MW of offshore wind capacity proposed for survey. If multiple offshore wind projects are proposed, the minimum equity must correspond to the aggregate capacity of all proposed projects.

2. Technical Capability Requirements

The survey entity must meet the qualification and capability requirements prescribed in Points a, b, d, and e, Clause 1, Article 26 of Decree No. 58/2025/NĐ-CP, which details several provisions of the Electricity Law concerning renewable energy and new energy development.

3. Commitment Regarding Survey Costs

The survey entity must provide a written commitment not to request reimbursement of survey expenses under any circumstances, except where the survey entity is a wholly state-owned enterprise assigned the survey task by a competent authority pursuant to Point a, Clause 2, Article 27 of the Electricity Law No. 61/2024/QH15.

Documents demonstrating financial capacity must include at least one of the following:

• Audited financial statements for the two most recent fiscal years;
• A financial support commitment from the parent company;
• Other documents proving the survey entity’s financial capability.

The Decree also provides regulations on the treatment of survey costs and costs for preparing investment policy approval dossiers in cases where a wholly state-owned enterprise is assigned by a competent authority to conduct offshore wind surveys.

Requirements for Enterprises Applying for Offshore Wind Investment Approval

The Government also specifies eligibility requirements for enterprises applying for investment policy approval and investor approval for offshore wind power projects that sell electricity to the national power grid under the national power development plan and are expected to commence operation during the 2025-2030 and 2031-2035 periods.

Enterprises must satisfy the following conditions:

• Equity Contribution: The enterprise’s equity contribution must account for at least 20% of the total project investment, and it must obtain a financing commitment from a bank, foreign bank branch, or other credit institution for the remaining project capital.
• Foreign-Invested Enterprises: Where the applicant is a foreign investor or a foreign-invested economic organization, it must satisfy the requirements set out in Points c, d, and e, Clause 1, Article 28 of Decree No. 58/2025/NĐ-CP, and maintain a minimum investment ownership ratio of 15% in the project.
• Domestic Enterprises: Where the applicant is a domestic enterprise without any foreign investor as a member or shareholder, it must contribute at least 5% of the project’s investment capital.
• Joint Ventures or Consortiums: If the investment policy approval application is submitted by a consortium of two or more enterprises, the financial capacity requirement (minimum equity contribution) may be assessed based on the combined financial capacity of all consortium members.