Petrovietnam unit builds substation platforms for 1.5 GW offshore wind power project in Baltic Sea

By Tri Duc
Sat, November 30, 2024 | 2:00 pm GMT+7

Petrovietnam Technical Services Corp (PTSC), the technical arm of Vietnam’s state-owned Petrovietnam, has kicked off the construction of substation platforms for the 1.5-GW Baltica 2 offshore wind power project.

Baltica 2 is part of the 2.5 GW Baltica Offshore Wind Farm, jointly developed by Denmark’s Orsted and Poland’s Polska Grupa Energetyczna (PGE).

The project is located in the Baltic Sea, targeting operational date from 2027 for the 1.5 GW Baltica 2 and 2030 for the 1 GW Baltica 3.

PTSC M&C holds a first steel cutting ceremony for Baltica 2 offshore wind farm in Ba Ria-Vung Tau province, southern Vietnam, November 27, 2024. Photo courtesy of PTSC.

PTSC M&C holds a first steel cutting ceremony for Baltica 2 offshore wind farm in Ba Ria-Vung Tau province, southern Vietnam, November 27, 2024. Photo courtesy of PTSC.

PTSC Mechanical & Construction (PTSC M&C), a unit of PTSC, and Denmark’s Semco Maritime held the first steel cutting ceremony for the project at PTSC’s factory in Ba Ria-Vung Tau province, southern Vietnam on Wednesday, according to a recent announcement of PTSC.

The ceremony marks the start of the fabrication process, which is expected to be completed in the first half of 2026.

Semco Maritime and PTSC M&C will conduct the engineering, procurement, and fabrication of four 375 MW offshore substation platforms (OSS) and four module support frames for the Baltica 2.

The primary structures for the Baltica 2 substation platforms will be fabricated at PTSC M&C’s yard. These structures play a critical role in safely and efficiently transmitting energy generated by offshore turbines to the national grid.

The report "Offshore wind supply chain for fast-track scenario in Vietnam," conducted by the Norwegian Government's Innovation Norway program, shows that Vietnam’s offshore wind market is considered promising, with world-class high wind speed and favorable seabed conditions. Vietnam has strong fundamentals to localize key components of offshore wind projects, but certain areas need further investment.

The existing supply chain used by the domestic oil and gas industry, in conjunction with the current onshore and nearshore wind infrastructure, has the potential to support in-country offshore wind developments, particularly foundation, tower manufacturing and maritime infrastructure, according to the findings of the report.

Comments (0)
  • Read More
Vietnam requires e-commerce platforms to pay taxes on behalf of selllers starting 2025

Vietnam requires e-commerce platforms to pay taxes on behalf of selllers starting 2025

Starting January 1, 2025, e-commerce and digital platforms will be required to declare and pay taxes on behalf of sellers operating on their platforms, according to Vietnam's amended Law on Tax Administration.

Economy - Sat, November 30, 2024 | 1:53 pm GMT+7

Bamboo Capital energy arm aims to spearhead clean energy, support sustainable development in Vietnam

Bamboo Capital energy arm aims to spearhead clean energy, support sustainable development in Vietnam

Vietnamese private conglomerate Bamboo Capital says its response to climate change challenges is to have its energy arm BCG Energy pioneer the clean energy trend and contribute to the nation’s sustainable growth.

Bamboo Capital - Sat, November 30, 2024 | 1:30 pm GMT+7

Private giant Vingroup to build electric vehicle factory in central Vietnam

Private giant Vingroup to build electric vehicle factory in central Vietnam

The central province of Ha Tinh on Friday gave in-principle approval to a VND7.3 trillion ($288 million) EV plant project, invested by Vinhomes - a subsidiary of Vietnam’s private conglomerate Vingroup, in Ky Anh town.

Industries - Sat, November 30, 2024 | 10:33 am GMT+7

Viettel to launch $130 mln logistics park in northern Vietnam next month

Viettel to launch $130 mln logistics park in northern Vietnam next month

Viettel aims to inaugurate a VND3.3 trillion ($130 million) logistics park next month in Lang Son, Vietnam's northern mountainous province bordering China.

Infrastructure - Sat, November 30, 2024 | 7:52 am GMT+7

Retail investors allowed to purchase Vietnam corporate bonds via private placements

Retail investors allowed to purchase Vietnam corporate bonds via private placements

Retail professional investors are now permitted to purchase corporate bonds in Vietnam via private placements, provided that issuers have credit ratings, collateral, or payment guarantees.

Finance - Fri, November 29, 2024 | 11:10 pm GMT+7

Malaysia announces tax incentives for electric vehicles

Malaysia announces tax incentives for electric vehicles

The Malaysian Government has implemented several initiatives to encourage local companies to increase their efforts to manufacture electric vehicles (EVs) to support the development direction of the local automotive industry.

Southeast Asia - Fri, November 29, 2024 | 10:49 pm GMT+7

Malaysia targets 2 million tonnes of hydrogen by 2030

Malaysia targets 2 million tonnes of hydrogen by 2030

Malaysia plans to produce 2 million tonnes of hydrogen annually by 2030 and 16 million tonnes by 2050 under its Hydrogen Economy and Technology Roadmap (HETR), according to Science, Technology and Innovation Minister Chang Lih Kang.

Southeast Asia - Fri, November 29, 2024 | 10:47 pm GMT+7

Trump’s tariff policies pose 'minimal' risk to derail Vietnam’s growing economy

Trump’s tariff policies pose 'minimal' risk to derail Vietnam’s growing economy

Vietnam was Asia’s biggest beneficiary of the first Trump administration. While Trump 2.0 will probably not be as beneficial to Vietnam as Trump 1.0 was, there is "minimal risk" that Trump’s tariff policies will derail Vietnam’s growing economy – in sharp contrast to claims made in some articles published since his election, writes Michael Kokalari, chief economist at VinaCapital.

Consulting - Fri, November 29, 2024 | 10:24 pm GMT+7

Singapore-Thailand JV Nexif Ratch to invest $155 mln in wind power in Vietnam

Singapore-Thailand JV Nexif Ratch to invest $155 mln in wind power in Vietnam

Nexif Ratch Energy, a regional renewable energy developer, will invest $155 million in a 102MW wind power project in Vietnam’s central coastal province of Khanh Hoa.

Energy - Fri, November 29, 2024 | 9:40 pm GMT+7

Thailand, Singapore strengthen cooperation in new areas

Thailand, Singapore strengthen cooperation in new areas

Thai Prime Minister Paetongtarn Shinawatra and her Singapore counterpart Lawrence Wong have held talks in Bangkok.

Southeast Asia - Fri, November 29, 2024 | 9:00 pm GMT+7

Indonesia releases white paper on proposed direction of 2024-2029 economic development

Indonesia releases white paper on proposed direction of 2024-2029 economic development

The Indonesian Chamber of Commerce and Industry (Kadin) has launched a white paper on the proposed direction of economic development for 2024-2029 as the country has set a target of achieving an economic growth rate of 8% during President Prabowo Subianto's leadership term.

Southeast Asia - Fri, November 29, 2024 | 8:59 pm GMT+7

Geopolitical impacts on Vietnam’s exports can hinder M&A in 2025: KPMG exec

Geopolitical impacts on Vietnam’s exports can hinder M&A in 2025: KPMG exec

Geopolitical conflicts and U.S. policies that could weaken Vietnam's exports are key factors with potential to hinder mergers and acquisitions (M&A) in 2025, says Nguyen Cong Ai, a partner with KPMG Vietnam.

Economy - Fri, November 29, 2024 | 4:53 pm GMT+7

Central Vietnam province okays $590 mln textile project

Central Vietnam province okays $590 mln textile project

Singapore-based Mega Textile Singapore Limited will invest $590 million in Vietnam’s central province of Nghe An.

Industries - Fri, November 29, 2024 | 4:41 pm GMT+7

Vietnam equipped to allow sports betting via internet: expert

Vietnam equipped to allow sports betting via internet: expert

Vietnam is capable of permitting Internet-based tickets for sports betting with careful management of players and without unsuitable restrictions, says Nguyen Tu Quang, chairman of BKAV Group, a leading tech firm in the country.

Economy - Fri, November 29, 2024 | 3:36 pm GMT+7

S Korean firm Dentium to invest additional $177 mln in central Vietnam hi-tech park

S Korean firm Dentium to invest additional $177 mln in central Vietnam hi-tech park

South Korean medical equipment manufacturer Dentium Co., Ltd. will invest $177 million in building its third factory at the Danang Hi-Tech Park in the eponymous central city.

Industries - Fri, November 29, 2024 | 3:09 pm GMT+7