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Sunday, June 16, 2024

Offshore wind power faces headwinds

By Hung Le

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Despite its vast potential, Vietnam’s offshore wind power sector is grappling with the lack of a legal framework. Whether the targets in National Power Development Plan VIII will be achievable is uncertain. Investment opportunities Kudryashov Sergei Ivanovich, general director of Zarubezhneft, a prominent Russian oil and gas company with a longstanding partnership with Vietnam Oil and Gas Group (PetroVietnam), visited Vietnam in early April. During his meeting with Prime Minister Pham Minh Chinh on April 8, he discussed Zarubezhneft’s plan to carry out new projects in Vietnam and expressed interest in venturing into offshore wind power projects in the country. At a recent workshop in HCMC on “Offshore Wind Power Development in Can Gio,” Dang Quoc Toan, chairman of the Board of Directors and CEO of Asia Petroleum Energy Corporation (AsiaPetro), proposed an offshore wind power project in Can Gio, the only coastal district of the city. This project would have a designed capacity of 6,000MW and reduce carbon emissions by over 200 million tons throughout its lifespan. Its output would be fed into the nation’s 500kV power grid through the Da Phuoc substation. The project would also produce green hydrogen and clean electricity for urban areas, industrial parks, and […]
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