Petrovietnam must be facilitated to conduct offshore wind power project surveys: Deputy PM

The Ministry of Industry and Trade must facilitate state-owned Petrovietnam to conduct surveys for offshore wind power projects, says Deputy Prime Minister Bui Thanh Son.

In a Tuesday release of the Government Office, the deputy PM emphasized Vietnam must maintain an annual power source growth of 10-12% to support its pacey socioeconomic growth.

Besides, developing renewable energy, offshore wind power, and gas-fired power is a priority to fulfill the country's net-zero emission target by 2050, he added.

Regarding offshore wind power, Son pointed out that Vietnam’s potential is 600,000 MW, with a target of 6,000 MW by 2030. The 2030 figure includes 2,500 MW in the northern region, 500 MW in the central-central region, 2,000 MW in the south-central region, and 1,000 MW in the southern region. However, no actual developments are recorded at the moment.

As 2030 is a close deadline for offshore wind power, the deputy PM requested the Ministry of Industry and Trade to facilitate Petrovietnam with surveys of offshore wind power projects.

The ministry is also tasked with speeding up the drafting of the amended Law on Electricity, focusing on offshore wind power, to submit to the National Assembly for approval later this month.

Vietnam’s ambitious target of adding 5 GW of offshore wind power to the national capacity by 2030 may fall short, S&P Global Commodity Insight said.

The country currently has no operational offshore wind power projects, although several foreign and domestic groups have shown interest in tapping this huge potential given a coastline of 3,260 kilometers in length.