Vietnam has dual opportunity from offshore wind power: Danish Ambassador

Bac Lieu wind power (Photo: VNA)

Hanoi – Developing offshore wind power is a great dual opportunity for Vietnam, Danish Ambassador to Vietnam Nicolai Prytz told a seminar themed “Promoting Vietnam’s offshore wind power development: International practices and policy recommendations” in Hanoi on March 16.

This is an opportunity to provide a green and cost-effective source of energy for the country's strong economic development; and at the same time, support it to achieve its commitment to net zero emissions by 2050, made at the 26th United Nations Climate Change Conference (COP26), he stressed.

As one of the countries that strongly support Vietnam's green and sustainable energy transition, Denmark expects the Vietnamese Government to soon issue a clear and consistent legal framework, which is essential for the development of the offshore wind industry, added the diplomat.

Nguyen Duc Hien, deputy head of the Party Central Committee’s Economic Commission, said that Vietnam holds great potential and advantages for wind energy development.

By the end of 2021, the total registered capacity of offshore wind power investment in Vietnam had been around 154 GW, Hien said, adding that the draft eighth Power Master Plan sets a target to develop about 16.12 GW of onshore and nearshore wind power and about 7 GW of offshore wind power by 2030, and 64.5 GW of this source of energy by 2045.

Mark Hutchinson, Chair of the Global Wind Energy Council (GWEC) Southeast Asia Task Force, said that there are many solutions for Vietnam to achieve the target of 7 GW of offshore wind power by 2030, such as a rapid development mechanism, a bidding mechanism, incentives through pricing.

The building of related policies and mechanisms needs a long roadmap, while the development of offshore wind power projects takes more time, he emphasised, proposing the Vietnamese Government pilot 2-3 GW of offshore wind through mixed finance sources to reduce costs.

If implemented under the bidding mechanism, it will take at least two years to remove legal barriers and enact policy measures. Therefore, the consideration and proposal of a mechanism for rapid development and implementation of pilot projects is very urgent in the Government's decision-making stage, and this mechanism should be considered and supported by the Government, stated Mark Hutchinson.

At the event, foreign experts and representatives from foreign energy groups said that as investors need certainty for large-scale offshore wind power projects, the Vietnamese Government should soon allow them to make surveys and ensure transparency in selecting them.

Investors wait for wind power administration system Offshore wind offers a route to diversify the energy system in a cost-effective way, given the technology’s unmatched track record in driving down costs in the context of the major energy crisis facing the world today.

Moves made to tighten up offshore approval rulings The Ministry of Natural Resources and Environment has proposed to the prime minister a temporary freeze on valuations and approvals to study offshore wind projects until existing regulations and technical issues have been removed.

Danish royal couple leads business promotion in Vietnam The Crown Prince couple of Denmark is leading a business delegation to Vietnam on November 1-2, consisting of more than 30 Danish companies with cutting-edge technology and know-how on sustainability and green transition.

Vietnamese, Danish firms shake hands to develop offshore wind power Vietnam’s Doosan Vina and Denmark’s Ørsted have signed a memorandum of understanding (MoU) to develop the offshore wind power supply chain in Vietnam.

Vietnam Wind Power 2022 to be held on December 1-2 in Hanoi Vietnam Wind Power 2022 is to be held on December 1-2 in Hanoi and is expected to be a crucial event to gather key stakeholders in the wind industry to facilitate Vietnam’s just transition to a greener economy.

Vietnam offshore wind power sparks influx of foreign investment: Nikkei Asia Nikkei Asia, a news service in Japan, ran an article on January 6 saying that Vietnam's offshore wind power sparks an influx of foreign investment.

Energy security deemed more likely with appropriate offshore wind strategy Offshore wind power is not only expected to contribute to Vietnam’s net-zero goal by 2050 but also help with the country’s ever-increasing hunger for energy.