Germany’s PNE ready to deploy $4.6 bln offshore wind power project in central Vietnam: CEO

Germany-based wind energy developer PNE AG has already made all necessary preparations to deploy the $4.6-billion Hon Trau offshore wind power project in Vietnam’s central coastal province of Binh Dinh.

PNE CEO Per Hornung Pedersen made the statement at a meeting with Binh Dinh authorities and an on-site visit to the project’s designated location on Tuesday.

For deployment, PNE is now waiting for the Vietnamese government to update the legal framework related to investment registration certificates, project locations, and avoidance of overlapping areas with other projects, he added.

The project is backed by both the Vietnamese and German governments, and PNE expects to soon receive an in-principle nod to proceed with the investment, possibly the first large-scale offshore wind power project in Vietnam, the executive said.

For his part, Ho Quoc Dung, Secretary of the Binh Dinh Party Committee, highlighted Binh Dinh’s advantages for the project, including its prime location within the under-consideration transnational high-speed railway, under-construction upgrade of Phu Cat airport and Quy Nhon seaport.

The mega Hon Trau offshore wind power project can also help Vietnam develop renewable energy to meet its COP26 commitment, Dung said, affirming that the province is willing to collaborate to solve issues to speed up the project.

The same day, Binh Dinh Chairman Pham Anh Tuan led the PNE delegation to make an on-site visit to the designated locations of the project.

PNE started a study of Hon Trau offshore wind power project in 2019. In November 2022, PNE and Binh Dinh authorities signed a memorandum of understanding to deploy the project.

According to PNE AG’s proposal, the 2,000 MW Hon Trau offshore wind power project is to be implemented in three phases, with the first phase seeing 750 MW operational by 2030.

In January 2023, Binh Dinh province proposed the government add the project to the draft national power development plan VIII (PDP VIII). Under PDP VIII, Vietnam aims to have 6 GW of offshore wind power by 2030.

In April 2024, the local government asked for prime ministerial in-principle approval and mechanisms for piloting the project. The Government Office then forwarded the proposal to the Ministry of Industry and Trade and the Ministry of Natural Resources and Environment for assessment.

In August 2024, Vietnam’s Ministry of Industry and Trade expressed its endorsement for the project.