Trade ministry proposes State-owned groups to pilot offshore wind power development

The Ministry of Industry and Trade (MoIT) has proposed State-owned corporations to pilot offshore wind power development to serve domestic demand.

The MoIT suggested selecting the Vietnam Oil and Gas Group (Petrovietnam), the Electricity of Vietnam or military-run companies to implement the project on a trial basis, given their available resources and considerable experience in the management and operation of power plants and transmission system, as well as national security issues.

Vietnam has substantial potential for wind energy, according to a recent study by the World Bank. Over 39% of the country's area has an average annual wind speed greater than 6 m/s at 65 meter altitude, equivalent to a capacity of 512 GW.

According to the National Power Development Plan for the 2021-2030 periods, with a vision to 2050, the country aims to develop 6,000 MW of offshore wind power by 2030, and 70,000 - 91,500 MW by 2050.