Large foreign companies interested in Viet Nam’s offshore wind power industry

Some major companies of Denmark and Norway have expressed their special interest in developing offshore wind power industry in Viet Nam during recent meetings with officials of the Ministry of Industry and Trade (MoIT).
Large foreign companies interested in Viet Nam’s offshore wind power industry
Turbines of the Bac Lieu wind power plant off the coast of Bac Lieu province. (Photo: VNA)

At the 26th United Nations Conference on Climate Change (COP26) held in the UK last November, Viet Nam committed to achieving net zero emissions by 2050.

Talking to the Danish Chargé d’Affaires, a.i. Troels Jakobsen and Executive Vice President and CEO of the Orsted group Martin Neubert, Minister Nguyen Hong Dien said offshore wind power development is highly significant since it can be combined with the realisation of socio-economic growth, energy security, and industrialisation targets towards low-carbon emissions and net zero emissions by 2050.

He expressed his hope that Orsted, which is the world’s biggest offshore wind power developer, will share its experience in this field so as to help Vietnam carry out effective energy transition projects that suit local development demands.

Neubert said his group views Viet Nam as a new and also important market. It opened an office in the country in December 2020 with the hope of making more concrete contributions to the formation of an offshore wind power industry in Viet Nam.

The firm is building a plan on launching the industry in Viet Nam through two projects it is implementing in coordination with the T&T Group, he went on, noting that through its concrete activities and objectives, Orsted hopes to accompany the Vietnamese Government during the realisation of the COP26 commitments.

Equinor, a large energy company in Norway, also showed its attention to the local sector.

Addressing a working session with Deputy Minister Dang Hoang An, an Equinor official said it has opened a representative office in Hanoi, which affirmed Norway’s readiness and determination to contribute to Vietnam’s offshore wind power development, green transition, and implementation of the commitments in the Paris Agreement on climate change and at COP26.

Equinor recently cooperated with the MoIT to study the development of an offshore wind power supply chain. This study’s results were handed over to the MoIT in October 2021.

In March 2021, it also signed a memorandum of understanding with the Viet Nam Oil and Gas Group (PetroVietnam) to assess the feasibility of cooperation in developing offshore wind power and renewable energy.

In the draft National Power Development Plan VIII, Viet Nam looks to develop 16,121 MW of onshore and inshore wind power, along with about 7,000 MW of offshore power by 2030. Wind power is set to make up 15.8 percent of the capacity of the electricity generation system, including 4.8 percent from offshore wind power.

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(Source: VNA)