PTSC shows strong engagement in offshore wind power projects

A view of the 200-hectare PTSC port in Ba Ria-Vung Tau province. (Source: VNA)

Hanoi – The Petrovietnam Technical Services Corporation (PTSC), a subsidiary company of the Vietnam Oil and Gas Group (Petrovietnam), is deeply engaging in domestic and international offshore wind power projects thanks to its rich experience, strong resources and highly qualified personnel.

According to PTSC General Director Le Manh Cuong, the firm is capable of providing transformer station and base manufacturing services for offshore wind power projects, and its capacity can meet international partners’ demand.

Recently, PTSC has been chosen by international offshore wind power developers to participate in their supply chains.

In May 2023, PTSC won the bid and signed a contract with Orsted Group to manufacture and supply 33 wind power bases for CHW2204 offshore wind farm project in Taiwan (China) which has a total capacity of 920 MW. PTSC has also signed and implemented contracts to design and manufacture nine offshore substations (OSS) for offshore wind power projects in Taiwan (China) and Europe (Baltic Sea region).

These projects have a total contract value of about 1.5 billion USD. All the supplies are manufactured in Vietnam.

In 2023, PTSC was also chosen by the Singaporean Government to partner with Sembcorp in developing a 2.3GW offshore wind power project to export electricity to Singapore through a submarine cable system.

With an over 3,000km coastline, Vietnam has the highest wind power resources in Southeast Asia, and ranks fifth in Asia and 13th in the world in the field. The World Bank estimates that Vietnam’s offshore wind power potential is about 600GW. Wind power development is also a focus of the National Power Plan VIII.

Cuong held that the Government should issue policies and mechanisms to encourage and attract investment in offshore wind power development to optimise the country’s strength, with priorities given to domestic firms and State-owned enterprises.

In late August 2023, PTSC became the first and only in Vietnam to be licenced by the Ministry of Natural Resources and Environment to fully deploy monitoring, investigation, survey and assessment activities of marine resources.

In October 2023, PTSC's partner Sembcorp was also granted a conditional electricity import licence from the Singapore Energy Market Management Authority (EMA).

Cuong revealed that in 2024, PTSC will conduct offshore surveys.

Offshore developers frustrated at lack of pilot policy There is still currently no legal avenue for foreign or domestic investors to take on offshore wind power pilots in Vietnam.

Answers sought for offshore wind gains Vietnamese authorities are being urged to contemplate strategies to advance offshore wind energy development.

Offshore wind power, hydrogen, and gas power awaiting policies The expeditious execution of gas power, offshore wind power, and hydrogen projects is contingent upon the competent authorities formulating policies pertaining to these domains.