Petrovietnam subsidiary to build offshore wind farm foundations for Orsted
Petrovietnam Technical Services Corp (PTSC) on Friday signed a contract to build offshore wind farm foundations for Orsted, becoming the first Vietnamese business to receive a mass order for offshore wind power equipment.
The technical arm of national oil & gas group Petrovietnam will manufacture 33 suction bucket foundations for turbine operation following an eco-friendly design developed by the Danish energy giant.
It is the first time such advanced production technology has been deployed in the Asia-Pacific region, said Orsted project development director Jonas Solhøj.
The move is part of PTSC's transition to mass production, a major development from single production, unlike traditional oil-gas activities, said PTSC CEO Le Manh Cuong. The contract will demonstrate PTSC and Vietnam’s capabilities in the global offshore wind power sector, he added. The project is set to use 70,000 tons of steel and employ thousands of people.
The products will be installed at the Great Changuha 2b & 4 offshore wind power (CHW2204) projects in Taiwan. Orsted secured a corporate power purchase agreement (CPPA) for the 920-MW project with Taiwan Semiconductor Manufacturing Company Limited (TSMC) in July 2020.
Located 35-60 kilometers off the Changhua coast, the project is scheduled to conduct onshore construction later this year, fabrication of components in 2023-2024, and completion of offshore construction by the end of 2025.

Representatives of Orsted and PTSC sign a contract in Ba Ria-Vung Tau province, southern Vietnam on May 19, 2023, under which the latter will build offshore wind farm foundations for the former. Photo courtesy of PTSC.
In November 2022, Petrovietnam’s mechanical and construction company PTSC M&C conducted the first cut of steel for the offshore substations Hai Long 2 and Hai Long 3 at the 1,044-megawatt Hai Long Offshore Wind Project in the Taiwan Strait.
In October 2021, the project announced a consortium of Vietnam's PTSC M&C and Danish company Semco Maritime had been selected as the suppliers for the two offshore substations.
Petrovietnam is currently not allowed to invest in offshore wind power projects under a resolution of Politburo, the Communist Party's premier decision-making body. But the state-owned oil and gas group is strongly capable of such a business, said its vice chairman Pham Tien Dung at a workshop in March to promote Vietnam’s offshore wind power development.
Resolution 41 dated July 2015 specifies development orientations for Vietnam's oil and gas industry until 2025, with a vision until 2030.
"Petrovietnam is capable of all offshore wind power activities, from the start to the end phases. In seabed surveys, hydrogeological tasks, data analysis and research, Petrovietnam is the best in Vietnam, thanks to its experience working at sea over the past 60 years," Dung said.
- Read More
VSIP starts work on industrial park project in northern Vietnam province Thai Binh
Construction of the Vietnam-Singapore Industrial Park (VSIP) Thai Binh commenced on Wednesday in northern Vietnam, with the witness of Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong.
Industrial real estate - Wed, March 26, 2025 | 10:41 pm GMT+7
Vingroup starts building mega urban project in Vietnam's Mekong Delta
Vietnam’s leading private conglomerate Vingroup on Wednesday embarked on construction of the VND28 trillion ($1.1 billion) Vinhomes Green City, the first mixed-use urban development in its ecosystem in the Mekong Delta province of Long An.
Real Estate - Wed, March 26, 2025 | 10:11 pm GMT+7
Indonesia, China cooperate in digital technology
Indonesia and China are expanding cooperation in the field of AI to promote digital transformation, especially in the fields of agriculture and smart cities.
Southeast Asia - Wed, March 26, 2025 | 10:01 pm GMT+7
Indonesia decides to join BRICS New Development Bank
Indonesian President Prabowo Subianto has announced the Government's decision to become a member of the New Development Bank (NDB), a multilateral development bank established by the five founding member states of the BRICS group.
Southeast Asia - Wed, March 26, 2025 | 9:57 pm GMT+7
Major Vietnamese broker SHS to double charter capital
Saigon-Hanoi Securities Corporation (SHS) plans to issue 894 million shares to increase its charter capital from VND8.13 trillion to VND17.07 trillion ($667.6 million), making it one of the top three securities firms in term of charter capital.
Companies - Wed, March 26, 2025 | 8:30 pm GMT+7
Elon Musk company okayed to pilot Starlink satellite internet service in Vietnam
Vietnam has allowed the U.S.'s SpaceX to pilot Starlink low-orbit satellite internet service in the country on a pilot basis until January 1, 2031.
Industries - Wed, March 26, 2025 | 5:18 pm GMT+7
Danish toymaker Lego to open $1.3 bln Vietnam plant next month
Denmark's Lego will officially open its factory in VSIP III Industrial Park in Vietnam's southern province of Binh Duong on April 9.
Industries - Wed, March 26, 2025 | 4:18 pm GMT+7
Top Singaporean firms earn high incomes in Vietnam
Singapore is the second-biggest foreign investor in Vietnam, with over $84 billion in registered investment capital as of end-January and many prominent investors raking in high incomes.
Companies - Wed, March 26, 2025 | 3:45 pm GMT+7
Vietnam, Singapore ink significant deals in Hanoi
Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong on Wednesday witnessed the signing of many cooperation deals between agencies and enterprises of the two countries.
Economy - Wed, March 26, 2025 | 2:51 pm GMT+7
Vietnam's major policies are reshaping economic development
Major policies are reshaping Vietnam's approach to economic development, which focuses on science, technology, and private enterprises, said a leader at the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Wed, March 26, 2025 | 12:11 pm GMT+7
PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
Real Estate - Wed, March 26, 2025 | 8:58 am GMT+7
S Korea's KIM Fund raises stake in Vietnam's marine transportation firm VIPCO
South Korea’s KIM Fund has increased its stake in Hai Phong city-based Vietnam Petroleum Transport JSC (VIPCO, HoSE: VIP) to 2.73%, making it the latter’s second-largest shareholder.
Companies - Wed, March 26, 2025 | 8:30 am GMT+7
Vietnam, Singapore seek cooperation chances in semiconductor industry
The Vietnam Trade Office in Singapore, in collaboration with the Singapore Semiconductor Industry Association (SSIA), organized a hybrid seminar on Monday to introduce Vietnam's potential, advantages, and development strategies for the semiconductor industry.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
OV intellectuals in UK suggest blueprint for Vietnam’s int’l financial hub ambition
Vietnam can rise as a major international financial centre, both regionally and globally, with a strategic vision that highlights transparency, a skilled workforce, modern infrastructure, robust financial markets, and strong international branding, the Vietnam Intellectual Society in the UK and Ireland (VIS) told visiting Vietnamese Permanent Deputy Prime Minister Nguyen Hoa Binh in a recent meeting.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
Vietnam Deputy PM discusses financial center development with ECB
Vietnam's Standing Deputy Prime Minister Nguyen Hoa Binh on Monday met with representatives of the European Central Bank (ECB) to discuss plans for the establishment of financial centers in Vietnam, as part of his working visit to Germany – the final stop in his European tour.
Southeast Asia - Tue, March 25, 2025 | 10:52 pm GMT+7
Indonesia keeps commitment on energy transition
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday affirmed that the U.S. decision to pull out of the Just Energy Transition Partnership (JETP) will not impact the other partners' commitment to it.
Southeast Asia - Tue, March 25, 2025 | 10:35 pm GMT+7