Participating in offshore wind power surveys and project development requires meeting many capital requirements - Photo: TT
The decree stipulates that the conditions for participating in offshore wind power project surveys require a minimum equity capital of 1 billion VND for each MW of offshore wind power for which the enterprise requests to be allocated a sea area for surveying.
Criteria for capital contribution and proof of financial capacity.
In cases where a surveying unit proposes to be allocated a sea area for surveying multiple offshore wind power projects, the minimum equity capital of the surveying unit must correspond to the total MW of the proposed offshore wind power projects.
The surveying unit must commit to not requesting reimbursement of fees under any circumstances, except when the surveying unit is a wholly state-owned enterprise assigned the task by a competent authority in accordance with regulations.
In addition, the surveying entity must provide documentation demonstrating its financial capacity, including: audited financial statements for the two most recent years, a commitment of financial support from the parent company, and other documents proving its financial capacity.
The decree also stipulates that the costs of surveying and preparing documents for investment approval for projects where state-owned enterprises hold 100% of the charter capital, and where the project has been surveyed in accordance with the Electricity Law for bidding to select investors, must be audited before implementation.
In cases where a state-owned enterprise has conducted a survey of an offshore wind power project to tender for the selection of an investor and has selected an investor, the specific regulations applicable to each case shall apply.
The costs of surveying and preparing investment approval documents for projects undertaken by enterprises wholly owned by the State will be accounted for as production and business expenses of the enterprise in accordance with regulations.
Regulations on equity capital when participating in project development.
To obtain approval for investment in offshore wind power projects and the sale of electricity to the national grid, as outlined in the power development plan and projected for operation in the periods 2025-2030 and 2031-2035, businesses must also meet specific conditions.
That is, the enterprise must have equity capital contributed to the offshore wind power project of no less than 20% of the total project investment and have a commitment from a bank or other credit institution to provide a loan for the remaining portion of the project.
In the case of businesses that are foreign investors or economic organizations with foreign investment capital, they must meet specific conditions as prescribed and have a minimum investment capital contribution ratio of 15% in the project.
For domestic businesses without foreign investors as members or shareholders, the minimum investment capital contribution ratio in the project must be 5%.
For investors submitting an application for investment approval as a consortium of two or more enterprises, the required condition is a minimum capital contribution of 20%, calculated as the total capacity of the member enterprises in the consortium.
This Decree shall be effective from July 4, 2026 to December 31, 2030.