Japan’s Marubeni aims for offshore wind power investments in Vietnam

Japanese giant Marubeni plans to invest more in Vietnam, including renewable energy, solar energy, and offshore wind power, said Yoshiaki Yokota, managing executive officer and CEO for Energy & Infrastructure Solution Group at Marubeni.

The executive made the statement at a Tuesday meeting with Vietnamese Deputy Minister of Industry and Trade Nguyen Hoang Long.

The executive highlighted Marubeni’s experiences as it has been developing wind power projects since 2010, including the first offshore wind power project in Japan and a floating wind power project in Scotland.

He also appreciated the Vietnamese government’s support for Marubeni in deploying major energy projects in the country, including the operational 1,200-MW Nghi Son 2 BOT thermal power plant in the central province of Thanh Hoa, the to-be-built 1,500-MW Quang Ninh LNG power plant in the northern province of Quang Ninh, and the 1,050-MW O Mon II thermal power plant in the Mekong Delta city of Can Tho.

In reply, Deputy Minister Long highlighted Marubeni’s long-term operation in Vietnam and showed his support for Marubeni's continued energy investments. The ministry is now in charge of drafting amendments to the Electricity Law, focusing on gas-fired power, solar power, and offshore wind power, in order to facilitate the participation of foreign investors.

Long added that the ministry is drafting plans to build two renewable energy service hubs for Vietnam's northern and southern regions. He called on Marubeni to share experience for the plans, which focus on manufacturing, repairing, and maintaining equipment and the supply chain of renewable energy.

In May, Vietnam’s northern province of Thai Binh said it was working to facilitate Marubeni’s offshore wind power and green industrial park projects in the province. For the offshore wind power project, Marubeni said it was deploying feasibility studies and was willing to make the investment as soon as the Vietnamese government approves relevant legal frameworks.

Vietnam is yet to have any operational offshore wind power project, despite numerous companies showing intentions. The industry ministry is drafting a pilot scheme that allows the participation of state-owned enteprises only in the first instance.