Proposal to Assign PVN to Pilot Offshore Wind Power Projects
Deputy Prime Minister Bùi Thanh Sơn has assigned the Ministry of Industry and Trade to report on the necessary procedures for authorizing Petrovietnam (PVN) to conduct offshore wind power surveys.
According to Power Development Plan VIII (PDP8), offshore wind power capacity is expected to reach 6,000 MW by 2030. However, no projects have yet received investment approval or authorization.
In an announcement by the Government Office on October 1, Deputy Prime Minister Bùi Thanh Sơn requested that the Ministry of Industry and Trade (MoIT) and PVN submit a report and proposal to the Prime Minister regarding PVN’s role in surveying and piloting offshore wind projects.
“With limited time until 2030, the early deployment of offshore wind power projects is essential to ensure the implementation of the plan,” the Deputy Prime Minister emphasized.
MoIT and other relevant ministries have also been tasked with reviewing necessary amendments to the Electricity Law and other related regulations to establish a comprehensive legal framework for energy projects, including offshore wind power.
In July, MoIT proposed three options for selecting pilot investors for offshore wind projects, one of which included PVN. The ministry highlighted that certain infrastructure and facilities for offshore wind are similar to those in offshore oil and gas projects, giving PVN a strategic advantage in executing pilot projects.
However, authorities noted that if PVN were to invest in offshore wind power, its business strategy and operational scope would need to be re-evaluated and adjusted. Additionally, PVN would have to adapt to the unique requirements of the offshore renewable energy sector.
According to MoIT’s calculations, electricity generation capacity needs to grow by 10-12% annually to meet economic and social development demands. Deputy Prime Minister Bùi Thanh Sơn stressed that early investment in power generation projects is crucial to securing future energy needs. Priority will be given to renewable energy sources capable of providing a stable power supply, such as offshore wind and LNG power, aligning with Vietnam’s goal of net-zero emissions by 2050.
Offshore wind power allocation under PDP8 is as follows:
- Northern Vietnam: 2,500 MW
- Central-Central Vietnam: 500 MW
- South-Central Vietnam: 2,000 MW
- Southern Vietnam: 1,000 MW
Globally, the offshore wind energy sector is dominated by major oil and gas corporations such as Equinor, Shell, Repsol, Total, BP, and Chevron. In Southeast Asia, Malaysia’s state-owned oil and gas company, Petronas, has established Gentari, a renewable energy subsidiary, and acquired 29.4% of the Hai Long offshore wind project in Taiwan to develop and invest in this energy sector.
Source: VnExpress