PVN set to carry out pilot offshore wind project

Speaking at an announcement  for the report "Offshore Wind Supply Chain for Vietnam's Fast Development Scenario" on October 4, Deputy Minister of Industry and Trade Nguyen  Hoang Long stated that the Vietnam Oil and Gas Group (PVN) is actively developing a detailed proposal for piloting offshore wind power projects

This aligns with the objectives set forth in the National Power Development Plan for the period 2021-2030, with a vision to 2050 (Power Plan 8).

Earlier, in a notice dated October 1, Deputy Prime Minister Bùi Thanh Sơn requested the Ministry of Industry and Trade to urgently coordinate with PVN to submit a report and proposals to the Prime Minister regarding the necessary procedures for PVN to conduct offshore wind surveys.

"With only a few years remaining until 2030, it is crucial to accelerate the implementation of offshore wind power projects to meet the targets of Power Plan 8," the notice emphasized.

Deputy Minister Nguyen Hoang Long added that the pilot offshore wind project by PVN is expected to be implemented in the southern region, leveraging the industrial facilities and plants PVN operates in Ba Ría-Vung  Tau province.

The Deputy Minister also urged PVN to closely collaborate with the Vietnam Electricity (EVN) and other relevant agencies to expedite research and construction, aiming to start power generation before 2030.

“In addition to the efforts of PVN and related agencies, international partnerships will also be necessary to support this pilot project in all stages, from surveying to design, feasibility studies, technology selection, and financial support,” the Deputy Minister suggested.

During the announcement, Norwegian Ambassador to Vietnam Hilde Solbakken highlighted Vietnam's significant potential for offshore wind development, given its strong wind resources and stable geological foundations suitable for offshore wind structures.

"As part of the Just Energy Transition Partnership (JETP) mechanism, Norway provides up to $250 million through the Norwegian Investment Fund for developing countries (Norfund) for renewable energy projects and waste management in Vietnam," Ambassador Solbakken added.

Norwegian experts, in collaboration with the United Nations Development Programme (UNDP) and the Ministry of Natural Resources and Environment, have also developed a marine spatial planning framework, which was approved by the National Assembly in June. "We are now preparing to implement pilot projects in Thanh Hoa, Quang Ninh, and Hai Phong," the ambassador  noted.

In parallel with the offshore wind pilot project, Deputy Minister Nguyen  Hoang Long emphasized the need to develop policies and mechanisms to support the offshore wind industry supply chain.

"Once the pilot project is in place, we can identify specific components such as import tax policies, corporate income taxes, or incentive policies," he stressed.

The Ministry of Industry and Trade has already received nine proposals from major energy corporations such as CIP (Denmark), BP, Corrio (UK), and Petronas (Malaysia), expressing interest in developing offshore wind projects in Vietnam.

"We can achieve the 6,000 MW capacity target outlined in Power Plan 8, given the considerable interest from nine investors," the Deputy Minister stated. He also mentioned that Vietnam is expected to approve a revised version of Power Plan 8 by mid-2025, with hopes that the full 6,000 MW capacity will be allocated to investors before the revision is finalized.

This, according to the Deputy Minister, would serve as a significant "policy signal" to encourage further foreign investment in Vietnam’s offshore wind market.