What is Vietnam's offshore wind potential?

The World Bank’s 2021 survey on Offshore Wind Technical Potential Analysis revealed that Vietnam has an aggregate offshore wind technical potential capacity of around 599 GW⁶. This significant potential arises from Vietnam’s 1800-mile-long coastline and winds averaging 13+ knots in certain coastal areas⁷.

Is Vietnam a good place to invest in wind power?

Vietnam’s wind power industry has emerged as a key component of the country’s renewable energy strategy, driven by favourable natural conditions and government incentives. With over 3,000 kilometres of coastline and high wind speeds, Vietnam has significant potential for both onshore and offshore wind energy development.

What is the largest offshore wind project in Vietnam?

This is one of the largest offshore wind projects in Vietnam, being developed by Mainstream Renewable Power in collaboration with local partners. Located off the coast of Soc Trang province, the project has a planned capacity of up to 1,400 MW. It will be developed in multiple phases, with the first phase expected to provide 400 MW of capacity.

Will Vietnam's wind power industry continue to grow?

Looking forward, Vietnam’s wind power industry is poised for continued expansion, with strong government support and growing interest from both domestic and international investors.

Can foreign investors invest in wind energy projects in Vietnam?

27 Foreign investors may own up to 100% equity in wind energy project companies as no foreign ownership restrictions currently exist in regards to the renewable energy sector under Vietnamese law. Developers are also able to invest in wind power projects on an entirely greenfield basis.

Who makes wind turbines in Vietnam?

Siemens Gamesa, a major global wind turbine manufacturer and project developer, has a strong presence in Vietnam. The company supplies wind turbines for several onshore and offshore projects and provides maintenance and technical support.