Vietnam is fortunate to have some of the best natural conditions for wind energy in Asia.  This is particularly the case for offshore wind energy, where Vietnam has some of the best conditions in the world.  According to a recent World Bank sponsored report ‘Offshore Wind Roadmap for Vietnam’, Vietnam has the potential to realize between 11GW and 25GW of offshore wind capacity by 2035, which could create up to 700,000 man year jobs and avoid up to 217 million tonnes of CO2 emissions.

As seen in the map below, the highest wind speeds and best offshore wind sites are concentrated off the coast of Binh Thuan and Ninh Thuan.  Good wind speeds are found further up and down the coast.  Vietnam has a major advantage of having large population centers along the coast and high wind speed areas where water depths are relatively shallow.  Vietnam also has skilled offshore workers, a strong manufacturing capability and existing reinforced harbours.  

Offshore wind is a proven technology and has seen major cost reductions in Europe, where it has been implemented on a mass scale. As an energy source it is now cheaper to build than other forms of energy such as coal, nuclear and gas.  

Offshore wind is already being implemented in markets closer to Vietnam such as Taiwan, Japan, China and Korea.  This will result in a maturing supply chain and costs reductions within the Asian region, which Vietnam can reap the benefits from.

To untap the huge potential of offshore wind in Vietnam, developers are urging government to provide certainty to the industry, which will allow them to invest in development.  The government can do this by establishing meaningful offshore wind targets, as well as a dedicated offshore wind policy.  

The world is embracing offshore wind – global offshore wind capacity will surge from 29GW in 2020 to over 234 GW by 2030, led by exponential growth in Asia-Pacific and continued strong growth in Europe, according to Global Wind Energy Council (GWEC). Other countries that started with intertidal/nearshore policies such as Denmark and China have fully embraced offshore wind.  Like these markets, Vietnam is well placed to take advantage of its unique coastal conditions, achieve security of energy supply, create jobs and deliver clean offshore wind energy for years to come.  

Vietnam Economic News