Vietnam stands uniquely positioned in Southeast Asia as the region's sole country with substantial offshore wind energy capabilities, boasting wind potential 200 times greater than the Son La Hydropower Plant's capacity.
According to the World Bank's technical assessment, Vietnam's offshore wind potential reaches approximately 599 GW. Offshore wind generation significantly outperforms onshore wind energy, with the additional advantage of utilizing vast maritime areas with minimal impact on residential zones.
Strategic national focus
Mr. Pham Nguyen Hung, Deputy Director of the Electricity and Renewable Energy Department at the Ministry of Industry and Trade, emphasized the government's strategic orientation: "Developing wind and offshore wind energy, and progressively establishing a domestic industry for installation, construction, and equipment manufacturing to enhance self-sufficiency and reduce costs is a major government priority in the coming years."
Offshore wind energy development is a key focus in the national strategy
International investment attraction
Nikkei Asia highlighted Vietnam's emergence as an attractive destination for renewable energy infrastructure investments. Prominent international investors like Sumitomo, Renova (a renewable energy specialist), and Orsted from Denmark (the world's largest offshore wind company) have actively participated in Vietnam's renewable energy projects.
Domestic enterprises such as BIM Energy Holding, Trungnam Group, and T&T Group are also robustly developing wind energy sectors.
Cross-border energy collaboration
Beyond domestic requirements, Vietnamese businesses aim to expand renewable energy exports. A prime example is the Petroleum Technical Services Corporation (PTSC), which recently signed a collaboration agreement with Sembcorp Utilities Pte. Ltd. (SCU) to invest in and export offshore renewable energy to Singapore.
PTSC's General Director, Le Manh Cuong, explained their initiative involves developing an offshore wind farm with an initial planned capacity of approximately 2.3 GW, with direct electricity export to Singapore via undersea high-voltage cables.
Leveraging the ASEAN grid interconnection program and Singapore's existing participation in the Laos-Thailand-Malaysia-Singapore (LTMS) grid, this project represents a significant opportunity for clean energy collaboration and export.
Project development timeline
Mr. Cuong noted that offshore wind projects typically require 5-7 years from initiation to commercial electricity generation. PTSC has submitted survey applications to relevant authorities, targeting commercial electricity generation by 2030, contingent upon regulatory support and approvals.
About Sembcorp
Sembcorp Industries, a Singapore government-linked corporation, specializes in global energy transformation and urban development solutions. With a 2021 revenue of approximately $5.7 billion and over 5,000 employees, the company has invested extensively across Asia, including significant projects in Vietnam's industrial infrastructure and energy sectors.
Conclusion
Vietnam's emergence as the sole ASEAN nation with substantial offshore wind energy potential represents a significant milestone in the country's renewable energy journey. With a remarkable 599 GW technical potential, strategic government support, and growing international investment, Vietnam is positioning itself as a regional leader in clean energy transformation. The collaborative efforts between domestic and international corporations, coupled with ambitious export plans and grid interconnection strategies, underscore Vietnam's commitment to sustainable development and energy innovation.
Cre: Cafebiz
