Ilustrative image. (Photo: VNA) Hanoi (VNA) – Offshore wind power is considered a promising field and able to replace renewable energy in Vietnam but the industry is rathernew and it is difficult to implement offshore wind power projects, heard participantsat a seminar held in Hanoi on December 16.
Theseminar entitled "Development of offshore wind power for Vietnam’s clean energyin the future" was co-organised by the Party Central Committee's Economic Commission and the GlobalWind Energy Council (GWEC).
Theissues that haven’t been solved for offshore wind power development include thedevelopment of mechanisms and policies, the construction of grid infrastructureas well as enhancing capacity in construction, installation and development ofdomestic supply chains, participants heard.
KeldBennetsen, Vice President of Copenhagen Offshore Partners (COP), the managementunit of La Gan offshore wind power project, held that legal framework was achallenge in the deployment of offshore wind power projects.
Favourablemechanisms should be created to facilitate the participation of internationalfinancial institutions, he said, adding that the power system needs to beupgraded in line with the offshore wind power development plan, thereby, helpingVietnam to attract financial investors as well as international investors inexpanding supply chains and promoting national value chains.
Accordingto Nguyen Anh Dung, Deputy Director of PTSC M&C Ltd. Co, it is essential forVietnam Oil and Gas Group (PetroVietnam) to collaborate with foreign investors whenimplementing offshore wind power projects in the country because other enterprisesin the oil and gas industry will have the opportunity to join the offshore windpower supply chain based on that foundation.
Dungsuggested considering allowing enterprises acting as general contractors as thevalue will be lower if they work as a manufacturing contractor or providelogistic services.
From afinancial perspective, participants at the event said the attraction ofinvestment in the offshore wind power market in Vietnam is expanding as thedemand for green energy is increasing, not only in the country but alsointernationally. Meanwhile, financial arrangements for thermal power projectsface difficulties in the context of globalisation and the adoption of measures in copingwith climate change.
PatrickJakobsen, Chief Underwriter of Denmark’s Export Credit Agency (EKF), said offshore wind power is a specific field that requires a longer and morecomplicated project development process than other projects, so a flexiblepolicy is needed in financial arrangement for these projects.
He recommendedoffering loans for offshore wind power projects in Vietnam or having a specialmechanism for power purchasing agreements to attract more investors and enhancethe projects’ competitiveness.
⛄ Accordingto Vietnam Electricity (EVN), by the end of October 31, 2021, Vietnam had 88 windpower projects that has begun commercial operations with a total installedcapacity of about 4.2 GW. Thereare 35 offshore wind power projects which are under research and development witha total capacity of up to 60 GW./.
