Vietnam offshore wind power fosters an increase in foreign investment

One of the greatest locations in the region to investigate offshore wind power is off the southern coast of Vietnam due to strong winds. 

In September, Sumitomo Corp. revealed plans to build an offshore wind energy project. By 2030, the corporation wants to start using a wind farm with a 500- to 1-gigawatt capacity.

The business hopes to establish further projects, including in the northern region of Vietnam, if the initial plans go according to plan. 

The firm has expertise in building wind farms throughout Europe, especially in Belgium and the United Kingdom.

In April, it signed a memorandum of understanding for the development of offshore wind energy with PetroVietnam Group, the largest state-owned oil company in the country.

Additionally, the creation of an offshore floating power plant with floating turbines is being considered.

In Vietnam, Renova has committed the most personnel to initiatives using renewable energy. The world's largest offshore wind energy provider, Orsted of Denmark, is setting the pace. 

Vietnam has been deemed "one of the most significant" countries for the development of renewable energy by Renova. In 2020, the business started investigating a plan to build a power plant with the Vietnam firm T&T Group.

Vietnam's favorable winds are a major attraction for energy projects, and Orsted and T&T Group have agreed to collaborate on the development of renewable energy projects there. 

In 2030, the business intends to jointly start up a power plant with a 2 GW overall output. Off Vietnam's southern coast, there are certain places where winds may reach speeds of more than 10 meters per second.

A speed of roughly 8 meters per second is widely regarded as the development threshold for offshore wind generation. Vietnam and the Philippines have high winds in Southeast Asia, although winds in Malaysia and Indonesia are often less.

Source: Nikkei Asia