A partnership between Danish wind power developer Orsted and Vietnam’s T&T Group has proposed two offshore wind projects of 5 gigawatts in capacity off the coast of Ninh Thuan province.
Development of the 3 GW Ninh Thuan 1 project is expected to commence between 2029 and 2033 via three stages, with 1 GW for each. The estimated total investment exceeds VND223 trillion (around $9.57 billion). There would be up to 150 wind turbines in all.
The 2 GW Ninh Thuan 2 project would be developed between 2030 and 2037 in two stages, also with 1 GW for each. The partnership expects to invest more than VND157 trillion (over $6.74 billion) in the 100-wind turbine project.
Both projects would be in Thuan Nam district of the south-central province.
Representatives of the Danish-Vietnamese partnership met with Ninh Thuan Vice Chairman Phan Tan Canh last week, seeking permission to conduct feasibility studies.
Canh told them that up to date, offshore wind projects in Ninh Thuan have not been added to the country’s latest power development plan, or PDP 8, and provincial officials have proposed the Ministry of Industry and Trade to do so.
The ministry is still revising the draft plan for submission to the government.
Orsted and T&T Group set up their partnership in September last year, aiming at a multi-GW pipeline of offshore wind projects in Ninh Thuan and bordering Binh Thuan. The two provinces are Vietnam's most suitable areas for offshore wind development.
With more than 3,200 kilometers of coastline and high consistent wind speeds, Vietnam has some of the best conditions for developing offshore wind in Asia. The World Bank Group estimates the country's offshore wind potential to be up to 500 GW.
In addition to this world-class potential, Vietnam's rapidly growing demand for power means there is an urgent need for new large-scale reliable power sources in the coming decades. These factors, in combination with Vietnam's strong supply chain potential, have convinced Orsted and T&T Group that offshore wind has a central role to play in Vietnam's future power mix.
Martin Neubert, chief commercial officer and deputy CEO at Orsted, said at the time of launching the partnership: "As the global offshore wind leader, Orsted targets 30 GW of offshore wind by 2030. To support this ambitious build-out, we need to work closely with partners such as T&T, who has an impressive track record of developing large energy projects in Vietnam, and who brings a deep understanding of the market.”