Wind power

Vietnam plans to develop a $13 billion offshore wind farm

Seetao 2022-08-03 11:41
  • Vietnam will vigorously increase renewable and clean energy
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Vietnam's Ministry of Industry and Trade has announced plans to develop a $13 billion offshore wind farm near the central province of Binh Thuan. The Vietnamese representative submitted a letter of intent to develop the project. It also discusses the development of nuclear energy, energy storage systems and hydrogen production. If carried out as planned, the 4GW plan will double Vietnam's wind power capacity.

Vietnam is urgently expanding power capacity to meet the demands of its fast-growing economy. The Ministry of Industry and Trade this week asked government officials to cancel at least 14.2GW of coal-fired power projects included in the draft national power development master plan. Vietnam aims to be carbon neutral by 2050.

AES operates in 15 countries, one of which is Vietnam. It has been in the country since 2008, when it set up what is now known as AESMongDuong, which it owns 51% of. The remaining shares are held by South Korea's Posco (30%) and China Investment Corporation (19%). This is to develop the US$2.1 billion 1.2GW Mong Duong coal-fired power plant in the northeastern province of Quang Ninh. Keywords: engineering news, overseas news

In 2019, AES signed a memorandum of understanding with the ministry to develop a US$1.8 billion gas-fired power plant with an installed capacity of 2.2GW in southeastern Binh Thuan province. It is currently working with PetroVietnam to build the Son My LNG terminal, one of six such facilities planned in the near future.Editor/XingWentao