Hanoi (VNA) - The Vietnam National Industry - Energy Group (Petrovietnam) introduced the potential, advantages, and direction of participating in offshore wind power at the 8th Vietnam Onshore Offshore Wind and Energy Storage Summit that took place in Hanoi on November 4.
Addressing the event, which attracted representatives from domestic and international energy enterprises and financial institutions, Tran Hong Nam, member of the Board of Members of Petrovietnam, highlighted offshore wind power as a key pathway to realise Vietnam’s Net Zero commitment by 2050.
He stressed that offshore wind energy holds great promise but requires a comprehensive approach involving a complete legal framework, adequate infrastructure, bankable power purchase agreements (PPAs), and strong grid transmission capacity.
The most crucial step, he said, is to finalise transparent and equitable regulations to attract investors while developing a domestic supply chain to reduce project costs and electricity prices.
(Photo: VNA)
Drawing on extensive experience in energy projects, and oil and gas exploration and production, Petrovietnam is well positioned to participate deeply in the offshore wind value chain, said Nam.
He added that the group has already produced foundations for offshore wind turbines for export, demonstrating its manufacturing capability and localisation potential.
Petrovietnam also plans to expand into products and services related to offshore wind to broaden its value chain, while strengthening cooperation with financial institutions to mobilise capital for future projects.
With a clear strategy, methodical approach, and proactive mindset, the group is gradually asserting its pioneering role in renewable energy development, particularly in offshore wind power in Vietnam./.
