Energy China seeks offshore wind power cooperation with Vietnam Electricity

China Energy Engineering Corporation Limited (Energy China), a major solution provider for the power industry in China, seeks to collaborate with state utility Vietnam Electricity (EVN) in offshore wind power.

Executive director Ni Zhen made the statement at a meeting last week with EVN's leadership, according to a Monday statement of EVN.

Energy China is willing to provide the technology, finance, and experience to help EVN, the executive added.

Energy China also seeks cooperation with EVN in battery energy storage systems (BESS), pumped storage hydropower, construction of ultra high voltage grid, and co-generation power.

In reply, EVN chairman Dang Hoang An said Energy China is capable of helping Vietnam’s energy transition, especially meeting the high demand for renewable energy.

In Vietnam, Energy China has invested and operated as the contractor of over 70 electricity projects worth over $9 billion.

As offshore wind power is a new industry in Vietnam, the legal framework is not available yet.

In September 2023, the Global Wind Energy Council (GWEC) stressed that Vietnam is in a position to attract offshore wind power investments, but failures to timely provide supporting policy can turn investors and suppliers away.

The Ministry of Industry and Trade is drafting a piloting mechanism for offshore wind power. As the sector is linked with national defense-security, the ministry plans to only let state-owned companies join the sector.

Some agencies have suggested that the ministry should allow state-owned companies to collaborate with other businesses to proceed with projects. The ministry also drafts an option of letting foreign companies join the sector, however, the ministry’s preference is to let state-owned companies do it.