Vietnam will have a hard time meeting its 2030 offshore wind goal, says top official

Strong winds and shallow waters close to densely populated areas support Vietnam's offshore wind power potential, which could boost the country's economy by $50 billion.

The Group of Seven (G7) members have pledged to invest in offshore wind to enhance the country's renewable energy sources and decrease its reliance on coal.

Vietnam's plans to install 6 gigawatts of offshore wind capacity by 2030 are being complicated by the regulatory environment and global industry challenges, according to World Forum Offshore Wind, which is equivalent to the world's addition in the first half of 2023.

A Vietnamese executive, who declined to be named due to media restrictions, stated that reaching 6 GW by 2030 is highly challenging.

Vietnam's environment ministry, responsible for climate policy and negotiating with G7 partners on wind investment funds, has not commented on the estimated construction time of offshore wind farms, which typically take over five years to complete.

Vietnam's industry ministry and state-owned energy parent PetroVietnam have not commented on the achievability of the 2030 wind power goal. Despite a surge in onshore wind and solar energy capacity, many new installations have struggled to connect to the country's underdeveloped power grid.

Vietnam's entry into offshore wind is being questioned by G7 members due to concerns over its lack of appropriate policies, regulations, and procedures.

The G7 document, prepared ahead of the UN Climate Change Conference, highlights Vietnam's insufficient data on offshore wind speed and the structure of the seabed off Vietnam, as well as its limited domestic financial capacity and limited experience in the offshore sector. The country's commitment to cut carbon emissions is also under scrutiny.

Vietnam plans to finalize marine spatial planning and offshore wind regulations by 2025, according to a draft document reviewed by Reuters.

The document suggests that marine spaces should be clearly designated to prevent potential encroachment on offshore wind farms and military or shipping purposes.

Source: Reuters