Petrovietnam subsidiary, Sembcorp to survey offshore wind power project
PTSC, the technical arm of state-owned Petrovietnam, and Singapore's Sembcorp Utilities Pte. Ltd. (SCU) will jointly conduct technical surveys for an offshore wind power project that will export its output to Singapore.
The two firms awarded wind & metocean measurement services and a geotechnical desktop study for the power export project to PTSC Geos & Subsea Services Co., Ltd (PTSC G&S) at a signing ceremony on Wednesday.
Executives of PTSC, Sembcorp, and PTSC G&S at a signing ceremony in Singapore on August 28, 2024. Photo courtesy of PTSC.
According to PTSC’s Thursday statement, the package is a critical component in preparing and implementing an offshore renewable energy import-export project from Vietnam to Singapore. It aims to ensure the project's success by providing accurate and comprehensive data on the natural and technical conditions of the project area.
The measurement and study work will include collecting data on wind speed, wind direction, and wind intensity at various heights, and metocean measurements such as sea waves, currents and sea levels.
The package will involve geological and geotechnical desktop study, assessments of offshore wind power potential, and identification of advanced technologies for developing offshore wind power systems.
The successful execution of the package will provide the foundational database for the engineering, construction, and operation of offshore wind farms in Vietnam, with a capacity of 2.3 GW, according to the statement.
The 2.3-GW figure is above the power export project’s capacity of 1.2 GW.
PTSC claimed that the successful implementation of the project will contribute to mitigating the impacts of climate change while enhancing the global standing of Vietnam and Singapore in the renewable energy sector.
In October 2023, Sembcorp received conditional approval from Singaporean authorities to import 1.2 GW of renewable electricity from Vietnam.
In August 2023, PTSC received a permit from Vietnam’s Ministry of Natural Resources and Environment to carry out wind, marine and geological surveys for the electricity export project. The permit features two locations covering 89,027 hectares and 98,897 hectares off the southern province of Ba Ria-Vung Tau.
- Related News
- Read More
Insurance payout for typhoon Yagi casualties in Vietnam hits $400,000
Insurance companies in Vietnam had reported 15 insured casualties due to super typhoon Yagi and subsequent floods with an estimated payout of approximately VND9.72 billion ($400,000) as of Tuesday.
Finance - Thu, September 12, 2024 | 10:35 pm GMT+7
Trading value on Vietnam’s major bourse plunges
Trading value on the Ho Chi Minh Stock Exchange (HoSE) on Thursday hit VND10.47 trillion ($426 million), down 18% from the previous session and the lowest in September.
Finance - Thu, September 12, 2024 | 6:17 pm GMT+7
HCMC okays design for commercial center within $900 mln Lotte project
Ho Chi Minh City’s Department of Planning and Architecture has approved the design for a commercial center within South Korean conglomerate Lotte’s $900-million Thu Thiem Eco Smart City project.
Real Estate - Thu, September 12, 2024 | 6:09 pm GMT+7
Vietnam eases restrictions on offshore wind power project sales under latest draft law
Investors can sell their stakes in offshore wind power projects in Vietnam with lesser restrictions, under the latest draft of the amended Law on Electricity.
Energy - Thu, September 12, 2024 | 5:52 pm GMT+7
Vietnam consumer finance firms post earnings recovery in H1 following 2023 slowdown
Corporate earnings of consumer finance businesses in Vietnam in the first half of the year showed a significant recovery, following a slowdown last year.
Finance - Thu, September 12, 2024 | 5:26 pm GMT+7
Vietnam stock market indicates significant risks, volatility: SGI Capital
Vietnam’s stock market currently poses significant risks and high volatility with relatively few clear-cut investment opportunities, says fund management company SGI Capital.
Finance - Thu, September 12, 2024 | 3:49 pm GMT+7
Hong Kong’s Pacific Textiles to close Vietnam plant for a month after typhoon Yagi damage
After super typhoon Yagi hit Vietnam last Saturday, Pacific Textiles has suspended production at its factory in the northern province of Hai Duong for at least one month.
Companies - Thu, September 12, 2024 | 3:16 pm GMT+7
Vietnam PM urges Mitsui to accelerate gas project, consider offshore wind energy generation
Prime Minister Pham Minh Chinh has asked Japanese conglomerate Mitsui & Co. to expedite implementation of the long-delayed Block B gas power project offshore Vietnam as the country strives to ensure energy security.
Energy - Thu, September 12, 2024 | 11:32 am GMT+7
Samsung factory in northern Vietnam flooded in super typhoon Yagi aftermath
A factory run by Samsung Industrial Vietnam Co. Ltd. in the northern Vietnam province of Bac Ninh to manufacture and assemble automotive parts has been flooded as super typhoon Yagi impacts linger.
Companies - Thu, September 12, 2024 | 10:58 am GMT+7
Thailand plans to apply global minimum tax
Thailand’s Revenue Department is planning to impose an additional tax of 15% on multinational corporations that are operating in the country.
Southeast Asia - Thu, September 12, 2024 | 9:16 am GMT+7
Price of banana in Thailand rising
The price of kluay hom thong banana or "golden bananas" in Thailand has doubled from about THB 15 ($0.44) per kilogramme to THB 30, with farmers rejoicing at growing demand.
Southeast Asia - Thu, September 12, 2024 | 9:12 am GMT+7
Thailand-Laos bus service to resume
Thailand's state-run Transport Co. plans to resume bus services from the northeastern provinces of Udon Thani and Nong Khai to the Lao town of Vang Vieng in November.
Southeast Asia - Thu, September 12, 2024 | 9:10 am GMT+7
Businesses affected amidst super typhoon Yagi havoc in northern Vietnam
Many businesses have been affected in the widespread damage including loss of lives inflicted by super typhoon Yagi in northern Vietnam.
Economy - Thu, September 12, 2024 | 8:17 am GMT+7
Former Ha Giang province Party chief subject to disciplinary action for Thuan An Group-related violations
The Central Inspection Committee has proposed disciplining Dang Quoc Khanh, former Party chief of Ha Giang province, for violations related to a Tuyen Quang-Ha Giang Expressway bid package implemented by Thuan An Group.
Politics - Wed, September 11, 2024 | 10:44 pm GMT+7
International support pours in for relief in typhoon Yagi’s aftermath
International relief for people affected by flash floods and landslides following super typhoon Yagi is being delivered to Vietnam.
Southeast Asia - Wed, September 11, 2024 | 9:35 pm GMT+7
HCMC makes plans to realize target of becoming world-class logistics center
HCMC will implement “key tasks and solutions” to increase investment in logistics infrastructure development, enlarging loading and unloading capacity, and building seaport warehouses, the municipal administration says.
Economy - Wed, September 11, 2024 | 9:28 pm GMT+7
