No offshore wind projects in Vietnam until 2028: global council
“No real offshore wind projects are likely to be built in Vietnam until the end of 2024-2028 period,” says the Global Wind Energy Council (GWEC).
In its Global Wind Report 2024, the council notes that “a route-to-market strategy for offshore wind development is still to materialize.”
It points out that in 2023, new onshore wind energy installations in the country reached 823 MW, raising the total figure to 3,924 MW. Meanwhile, the figure for offshore wind power was zero.
Bac Lieu wind power factory in Bac Lieu province, southern Vietnam. Photo courtesy of EVN.
Reviewing onshore and intertidal wind power development in Vietnam, the GWEC says: “The government needs to issue new policies and legal frameworks before any new onshore and intertidal wind projects can be constructed.
“New wind projects must also enter into a power purchase agreement (PPA) negotiation process with state utility Vietnam Electricity (EVN) to determine the price,” the GWEC says, adding that the process will be a prolonged one until the Ministry of Industry and Trade issued a new auction mechanism in the coming years.
Petrovietnam, Equinor discuss offshore wind power
In related news, state-owned oil and gas major Petrovietnam said Friday that it has discussed further cooperation on offshore wind power generation with Norway’s Equinor.
Jacques-Etienne Michel (left), country managing director and country representative Equinor Vietnam, and Petrovietnam general director Le Ngoc Son at a meeting in Hanoi on April 16, 2024. Photo courtesy of Petrovietnam.
Jacques-Etienne Michel, managing director and country representative of Equinor Vietnam, said offshore wind power was one of the state-owned firm’s strengths. It has conducted many studies on marine spatial planning and wind power in several parts of the world.
Equinor will try to help Petrovietnam with offshore wind power developments in Vietnam, he said.
Petrovietnam general director Le Ngoc Son said Equinor was a crucial partner with whom the Vietnameses firm looks to boost cooperation and share experiences on new-energy projects.
However, offshore wind power was a new sector in Vietnam and the required legal framework was still not ready, he added.
- Related News
- Read More
Vietnam officially grants visa-free entry to high-profile foreigners
The Vietnamese Government has introduced a limited-term visa waiver scheme for foreign nationals who are "prioritized for the sake of the country’s socio-economic development".
Politics - Sat, August 9, 2025 | 11:32 am GMT+7
VinEnergo launches rooftop solar, battery storage projects in central Vietnam
VinEnergo Energy Joint Stock Company has signed MoUs to install rooftop solar power systems integrated with battery energy storage systems (BESS) with the VinFast automobile plant and two battery factories in the central province of Ha Tinh.
Companies - Sat, August 9, 2025 | 10:21 am GMT+7
Indonesia doubles lithium imports to boost EV battery production
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realize its ambition of becoming a global EV manufacturing hub.
Southeast Asia - Sat, August 9, 2025 | 10:18 am GMT+7
Optimism rises for Thailand’s economy after US tariff cut
Thailand’s private sector has lifted its 2025 GDP growth forecast to 1.8-2.2%, up from the previous 1.5-2%, following the U.S. decision to reduce import tariffs on Thai goods from 36% to 19%.
Southeast Asia - Sat, August 9, 2025 | 10:16 am GMT+7
Foreign investors make up 4.27% of Vietnamese G-bonds trading value in July
Foreign investors accounted for 4.27% of the total trading value of Vietnamese government bonds (G-bonds) in July, with net buying at VND298 billion (nearly 11.4 million).
Finance - Sat, August 9, 2025 | 10:08 am GMT+7
Vietnam developer Taseco Land plans private share placement following HCMC bourse debut
Shortly after its listing on the Ho Chi Minh Stock Exchange (HoSE) as TAL, Taseco Land, a subsidiary of Vietnam’s conglomerate Taseco Group, is seeking shareholder approval for a private share placement targeted at professional investors.
Companies - Sat, August 9, 2025 | 8:00 am GMT+7
Vietnam aims to finalize negotiations for Ninh Thuan 1 nuclear power plant by August
The Vietnamese government targets completing negotiations for Ninh Thuan 1 nuclear power plant in former Ninh Thuan province (now Khanh Hoa) by August 2025, and for Ninh Thuan 2 by May 2026 at the latest.
Energy - Fri, August 8, 2025 | 4:18 pm GMT+7
Software giant SAP invests $175 ml in R&D center in Vietnam
German software heavyweight SAP has officially launched a research & development center in Vietnam, with plans to invest more than €150 million ($175 million) over the next five years.
Industries - Fri, August 8, 2025 | 3:43 pm GMT+7
Carlsberg’s Phu Bai Brewery expansion in central Vietnam set to start brewing late this month
The expansion of Carlsberg’s brewery in Hue city, central Vietnam, with an investment of nearly $90 million, has entered trial runs and is scheduled to be inaugurated and begin full-scale production in late August.
Industries - Fri, August 8, 2025 | 2:43 pm GMT+7
Indonesia promotes nickel-based EV battery production
Indonesia is advocating regulations to encourage electric vehicle (EV) manufacturers to switch from the commonly used lithium-based batteries to nickel-based ones.
Southeast Asia - Fri, August 8, 2025 | 1:54 pm GMT+7
BRICS countries account for over 35% of Malaysia’s total foreign trade turnover
Malaysia’s trade with BRICS nations climbed to RM818 billion ($193.47 billion) in 2024, making up 35.2% of the country’s total global trade, according to the Ministry of Investment, Trade and Industry (MITI).
Southeast Asia - Fri, August 8, 2025 | 1:52 pm GMT+7
Vietnam consumer finance major F88’s stock hits ceiling price on UPCoM debut
The stock of F88 Investment JSC (F88), a leading consumer finance company in Vietnam, hit its ceiling price of VND888,800 ($34) on Friday, the first day of trading on the Unlisted Public Companies Market (UPCoM).
Companies - Fri, August 8, 2025 | 1:32 pm GMT+7
US tariff unlikely to dent Vietnam’s long-term FDI appeal: broker
The U.S. tariff gap between Vietnamese goods and those from four other Southeast Asian countries would not erode Vietnam’s competitive edge in manufacturing and investment, said Hanoi-based Vietcombank Securities (VCBS).
Economy - Fri, August 8, 2025 | 12:24 pm GMT+7
Land clearance for Vietnam's North-South high-speed railway project to start on December 19
Prime Minister Pham Minh Chinh has requested localities to start land clearance en masse for the gigantic North-South high-speed railway project on December 19.
Economy - Fri, August 8, 2025 | 11:52 am GMT+7
Vietnam might launch pilot digital asset exchange in August
A digital asset exchange might be launched in August on a pilot basis, Deputy Minister of Finance Nguyen Duc Chi told a government press meeting on Thursday.
Finance - Fri, August 8, 2025 | 11:25 am GMT+7
Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development
Hoa Sen Group (HoSE: HSG), Vietnam’s top producer of coated steel products, has spent VND900 billion ($34.3 million) acquiring land for a major urban development project in the southern province of Dong Nai.
Real Estate - Fri, August 8, 2025 | 8:22 am GMT+7
