HCMC – Deputy Prime Minister and Foreign Minister Bui Thanh Son has told the Ministry of Industry and Trade to work with Vietnam Oil and Gas Group (PVN) over a proposal for developing an offshore wind farm project, reported the local media.
The proposal aims to seek approval for PVN to conduct offshore wind energy surveys as part of a pilot project, as the Government looks to expedite offshore wind farm development to achieve its energy targets by 2030.
The ministry has also been directed to review and propose amendments to relevant laws, including the Electricity Law, to establish a clearer legal framework for energy projects, particularly offshore wind.
According to the World Bank, Vietnam has substantial potential for offshore wind energy, especially in the provinces of Binh Thuan and Ninh Thuan, which have favorable wind speeds. Despite this potential, offshore wind projects in the country have seen limited progress.
Vietnam’s National Power Development Plan VIII sets a target of achieving 6,000 megawatts of offshore wind capacity by 2030. However, no specific offshore wind projects have yet been approved or initiated.
In July, the Ministry of Industry and Trade submitted a report to the Government, recommending that state-owned enterprises, such as PVN or the Ministry of Defense, be given priority for initial offshore wind projects before considering private and foreign investors.
The ministry noted that PVN has particular advantages due to its experience in offshore oil and gas operations, which share some similarities with offshore wind infrastructure.
