Foreign investors continue to show interest in Vietnam’s offshore wind power potential and are actively seeking opportunities to join the business field.

Experts are concerned that Vietnam's target of 6,000MW of offshore wind power by 2030 may be out of reach, citing legal gaps and the need for pilot mechanisms to attract investment.

According to the International Energy Agency (IEA), the oil and gas sector’s experience in executing offshore projects contributes significantly to sharing supply chains and technology.

The world’s largest green energy group is following procedures to deploy an offshore wind power in Binh Thuan province with total investment capital of $10.5 billion. The project is expected to be completed by 2030.

The Prime Minister has asked that the Electricity of Vietnam (EVN) and Vietnamese enterprises develop offshore wind power on a trial basis, but the Ministry of Industry and Trade (MOIT) says there is insufficient legal foundation to do this.

The Ministry of Industry and Trade (MOIT) has sent a document to Enterprize Energy, replying to a proposal on the trial development of an offshore wind power project, Thang Long Wind/Thang Long Wind 2, initiated by Enterprize Energy.

Action on accelerating offshore wind power projects is urgently needed if the government is to meet its targets for the decade.

Developing offshore wind power is a great dual opportunity for Vietnam, Danish Ambassador to Vietnam Nicolai Prytz told a seminar in Hanoi on March 16.

According to the World Bank Group, Vietnam is seen as a potential major player in the sector because of its strong winds in shallow waters near coastal, densely populated areas.

Nikkei Asia, a news service in Japan, ran an article on January 6 saying that Vietnam's offshore wind power sparks an influx of foreign investment.

The development of renewable energy is a major policy of the Party and Government of Vietnam, in which offshore wind power has been identified as a breakthrough solution in energy transformation to help ensure national energy security.

Representatives of the administrations of Hai Phong city (Vietnam) and Esbjerg city (Denmark) on November 2 signed a memorandum of understanding (MoU) on cooperation in the field of offshore wind energy.

Investors should wait until a resolution about wind measurement, monitoring and geological and topographical surveys is issued.

Climate change and greenhouse gas emissions from manufacturing units are making it difficult for Vietnam to meet the millennium goal of ensuring economic development in a sustainable environment.

The long-awaited Power Development Plan VIII is set to target the development of about 7GW of offshore wind power in Vietnam. However, both investors and localities are waiting for a clearer roadmap.

While Vietnam plans a 7,000MW of offshore wind power by 2030, most of wind farm investors shared their concern about the bidding mechanism for the industry in a recent energy workshop in Hanoi.

Some major businesses of Denmark and Norway have expressed their special interest in developing offshore wind power in Vietnam during recent meetings with officials of the Ministry of Industry and Trade (MoIT).

Infrastructure Investment and Transportation Construction Joint Stock Company (Intracom) met with Quang Tri Province to discuss the research of the first-ever offshore wind farm in the province.

The World Bank has recommended 20 actions that address three priority themes for Vietnam’s successful offshore wind industry.