Marubeni, Doosan Vina join hands to develop offshore wind power in Vietnam

Japan’s Marubeni Corporation and South Korea’s Doosan Enerbility Vietnam (Doosan Vina) have inked a memorandum of understanding (MoU) for the joint development of offshore wind power in Vietnam to tap into the country’s rising electricity demand.

After signing the MoU, the two sides will study the feasibility of their cooperation in the industry in Vietnam.

Doosan Vina, which owns a 100-hectare industrial complex in Dung Quat Economic Zone in the central province of Quang Ngai, plans to produce monopiles as foundations for offshore wind power turbines and other components for offshore wind farms.

Meanwhile, Marubeni is set to explore the opportunity of expanding its cooperation with other Vietnamese firms to boost the offshore wind power sector in the Southeast Asian country.

Vietnam has been reckoned by the World Bank to have potential offshore wind power capacity of 475 gigawatts. However, no offshore wind power plants have been built, although the country is aiming for 6 GW of wind power by 2030 under the Power Development Plan VIII (PDP VIII).

Speaking at the signing ceremony on Saturday, Kim Hyo Tae, general director at Doosan Vina, said that the cooperation is part of the company’s efforts to help fulfill the net-zero emission goal by 2050 that Vietnam announced at COP26 in 2021.

Vietnam boasts great natural resources like ocean, wind, and solar to develop renewable energy, particularly offshore wind power, Kim added.

Seiji Kawamura, general manager, the overseas power department (Asia-Pacific) at Marubeni Corporation, stressed the importance of offshore wind power in the corporation’s business strategy. With its 50 years of engagement in Vietnam’s power industry, Marubeni is looking to continue contributing to the country’s economy.

Doosan Vina and Marubeni are strategic partners in the power industry in the Asia-Pacific region.

They have successfully developed the Nghi Son 2 BOT thermal power plant in the central province of Thanh Hoa, with Doosan as engineering, procurement and construction (EPC) contractor and Marubeni a member of a consortium comprising three investors.

Doosan Vina, which runs a $300-million industrial complex in Dung Quat Economic Zone, specializes in manufacturing modules, cargo container cranes, steel structures, and power plant equipment.

In Vietnam, Doosan Vina has served as an EPC general contractor for major thermal power plants such as Mong Duong 2, Vinh Tan 4, Nghi Son 2, and Song Hau 1. It has also provided cranes for major seaports in the country.

Meanwhile, Marubeni has served as an EPC general contractor for 11 power plant projects in Vietnam, such as Thai Binh 1 and Nghi Son 2. It is also a contractor for the 1,050MW O Mon 2 gas-fired power plant and the 1,500MW LNG-fired Quang Ninh power plant.

In the renewable energy industry, Marubeni has developed onshore and offshore wind farms with a combined capacity of over 2,000 MW in many countries including Japan and the UK.