In the context of fossil fuel resources such as coal, oil, and natural gas gradually depleting, offshore wind power is emerging as a crucial renewable energy solution for the future. With a coastline stretching over 3,260 km and enormous offshore wind potential, Vietnam is facing a great opportunity to develop the offshore wind power industry, contributing to the realization of the national green energy transition goals.

Offshore Wind Power: Global Trends and Opportunities for Vietnam

History of offshore wind power development worldwide

The first offshore wind power project was installed in Denmark in 1991, marking an important turning point in the history of renewable energy. Since then, commercial-scale offshore wind farms have developed strongly worldwide, especially in Europe.

Thanks to breakthrough advances in turbine manufacturing technology, the investment cost of offshore wind power has dropped sharply to about 6-8 cents/kWh, making this energy source competitive with traditional fossil fuel sources. Modern wind turbines are manufactured with advanced engineering technology, ensuring high longevity and the ability to withstand harsh conditions at sea.

Vietnam’s offshore wind power potential

According to Dr. Du Van Toan from the Institute of Marine and Island Research under the General Department of Seas and Islands (Ministry of Natural Resources and Environment), wind energy resources are the newest and fastest-growing energy source in the world today.

Vietnam possesses extremely abundant wind resources with impressive figures:

Map of Vietnam’s Offshore Wind Power Potential

Areas with the best potential

Research by Dr. Du Van Toan and colleagues identifies sea areas with excellent offshore wind power potential:

1. Ninh Thuan – Binh Thuan: Vietnam’s best wind region

2. Khanh Hoa: Enormous potential

3. Ca Mau: Rich potential in the far south

4. Binh Thuan: Wind energy center

5. Special areas

Phu Quy Island, Bach Long Vi, and the Spratly Islands also possess high wind energy resources, suitable for establishing large offshore wind power projects.

Current Status of Offshore Wind Power Development in Vietnam

Initial phase (2015-2019)

Boom with FIT mechanism (2020-2021)

With the Feed-in Tariff (FIT) policy of 9.8 cents/kWh for 20 years committed by EVN, Vietnam’s offshore wind power sector developed strongly:

Draft Power Development Plan VIII: Ambitious vision

According to the Draft Power Development Plan VIII (April 2022 version), the Ministry of Industry and Trade set ambitious targets:

By 2030:

By 2045:

International vision

The World Bank’s “Offshore Wind Roadmap to 2050” group proposes a target of 70 GW for Vietnam with offshore wind power prices reaching 5 cents/kWh. If achieved, Vietnam will:

It is estimated that by 2050, offshore wind power can meet nearly 30% of Vietnam’s electricity demand, possibly even higher depending on the market and technological progress.

Challenges in Offshore Wind Power Development

1. Project implementation timeline

An offshore wind power project requires 7-10 years to complete stages including:

With the target of 7 GW by 2030 (only 7 years remaining), starting immediately is urgent.

2. Technical and financial requirements

Implementing offshore wind power projects requires:

3. Lack of planning and legal framework

Experts emphasize the need for:

4. Resource waste issues

According to Dr. Du Van Toan, current policies do not grant exclusive survey rights, leading to:

Solutions for Sustainable Offshore Wind Power Development

1. Comprehensive and long-term planning

Offshore wind power needs to be planned in coordination with:

2. Stable policy framework

Learning from successful European countries’ experience:

3. Domestic supply chain development

For offshore wind power to become a sustainable industry:

4. Exclusive survey rights mechanism

Dr. Du Van Toan proposes:

5. Inter-agency coordination

Management agencies need to:

Economic and Environmental Benefits from Offshore Wind Power

Environmental benefits

According to the World Bank report (June 2021):

Economic benefits

Developing offshore wind power will:

Offshore wind power is not only a potential renewable energy solution but also an opportunity for Vietnam to develop a new, modern, and sustainable industry. With enormous offshore wind potential and favorable geographical location, Vietnam can completely become one of the leading countries in the region for offshore wind power.

However, to turn potential into reality, synchronized coordination is needed among the State, enterprises, and the international community in building long-term planning, stable policy frameworks, and developing domestic supply chains. As Dr. Du Van Toan emphasizes: “The energy transition needs and expected capacity recorded in the Draft Power Development Plan VIII are an important foundation to promote wind power development as a new industry, but long-term development planning and appropriate policy mechanisms are still needed.”

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