Vietnam’s Offshore Wind Power Industry Attracts Danish and Norwegian Firms

June 2022

During recent talks with officials from Vietnam´s Ministry of Industry and Trade (MoIT), several Danish and Norwegian companies expressed their interest to promote offshore wind power in the Southeast Asian country.

The CEO of Orsted Group, the world’s biggest offshore wind power developer, revealed that Vietnam is evaluated as an emerging and critical market, and that the Danish company is willing to support Vietnam to execute effective energy transition projects. In 2020, the group opened an office in Vietnam as a ¡ step to consolidate its presence and further expand business.

Orsted Group is planning two projects, in coordination with the T&T Group, which will advance the offshore wind power industry in Vietnam. The Danish group is expected to contribute to the country’s environmental commitments, which target to achieve net-zero emissions by 2050.

Equinor, a large Norwegian energy firm, also demonstrated its interest in Vietnam. The company has opened a representative office in Hanoi, affirming its determination to contribute to Vietnam’s offshore wind power development. Equinor recently cooperated with the MoIT to conduct a study on offshore wind power supply chain, which was completed in October 2021. Previously, it signed an agreement with the Vietnam Oil and Gas Group (PetroVietnam) to assess the feasibility of cooperation in developing offshore wind power and renewable energy.

According to the draft National Power Development Plan VIII, Vietnam aims to have 16,121 MW of onshore and inshore wind power, along with about 7,000 MW of the offshore one by 2030. Wind power is set to account for 15.8% of the capacity of the electricity generation system, including 4.8% from offshore wind power.

(Source: VietnamPlus)

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