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Vietnam OKs survey for $12bn offshore wind plan

Go-ahead will allow Enterprize Energy to start investigations for first 600MW phase of 3.4GW development

Vietnam has given the go-ahead for a developer to start survey work for a 3.4GW offshore wind farm off its southern coast, said government news agency VNA.

The licence allows Enterprize Energy to start investigations for a 600MW first phase of the project, part of a huge development that’s envisaged for the Ke Ga development zone 20km-50km off Vietnam’s Binh Thuan and Ba Ria-Vung Tau provinces, VNA said.

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The developer hopes to begin export of power from the first phase as soon as late 2022, it was reported, with subsequent phases built-out through to 2026. The total 3.4GW development is said to require $12bn of investment.

Singapore-based Enterprize Energy last year announced an “alliance” with turbine OEM MHI Vestas, technology group DNV GL, Renewable Energy Global Solutions and local oil group PetroVietnam “to deliver utility-scale offshore wind energy development within government’s price expectations”.

Vietnam is seen as one of the most promising markets in the next wave of Asian offshore wind, following regional pioneers China and Taiwan.

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The World Bank and International Finance Corporation (IFC) earlier this year put Vietnam’s technical potential for fixed and floating offshore wind at 309GW, when they launched a $5m programme to fast-track take-up of offshore wind energy in key developing countries.

The country’s government said last year it would look to move to an auction-based system for wind power support when the current feed-in tariff deadline expires in November 2021.

Enterprize Energy has been contacted for comment by Recharge.

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