The Danish Energy Agency and the World Bank Group have presented their studies and recommendations on the development of a new offshore wind sector to the Vietnamese government. With an estimated potential of 160GW offshore wind power within the distance to shore from 5 km to 100 km, Vietnam has favourable conditions to create an offshore wind industry.
Studies carried out by the Danish Energy Agency and the World Bank, also recommend that 10GW offshore wind power could be in operation in Vietnam already by 2030. The Danish Energy Agency and the World Bank Group presented the following key recommendations in the “Input to Roadmap for Offshore Wind Power Development in Vietnam” report:
- Clear, long-term and progressive capacity deployment targets are essential to coordinate policies on government level and give the industry the needed confidence to make long-term investments in infrastructure, supply chains and technology.
- A sound legal framework and a finance able Power Purchase Agreement in line with international practices are key to offset new market risks and help to open the door to capital investment at the level needed to build a mature offshore industry in Vietnam.
- Mandate a government agency to act as a single point of contact to streamline the permitting and consent processes for offshore wind projects, thus ensuring timely delivery of projects.
- Award of large-scale demonstration projects to be commissioned in phases in order to kick-start the sector.