Vietnam’s huge renewable energy potential is attracting increasing interest from foreign investors, creating new growth opportunities in the sector. However, business leaders said that the sector will require a transparent legal framework and advanced technologies. Growth momentum Foreign companies are showing strong interest in Vietnam’s renewable energy sector. Among the latest developments, Germany’s PNE Group has registered to explore an offshore wind power project in Binh Dinh Province, with a proposed investment of around US$4.6 billion. At the recent Green Economy Forum & Exhibition 2024 (GEFE 2024), DNV, a Norwegian risk management firm, reaffirmed its commitment to supporting Vietnam’s renewable energy and decarbonization efforts. Tok Kian Seng, head of Offshore Infrastructure, Energy Systems APAC at DNV, highlighted Vietnam’s potential in green energy and shared plans for continued support of both local and international renewable projects. DNV is also exploring emerging technologies, such as battery storage, hydrogen, electrolyzers, and ammonia. Hitachi Energy, a global energy solutions provider, also emphasized its focus on expanding in the Vietnamese market as the country is pushing for a green economy and net-zero emissions by 2050. Meanwhile, VARD, a specialist in vessels for the renewable industry, has expanded its facilities in Vietnam, aiming to support the […]
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