Wind Energy – Vietnam
On 5 August 2022, global offshore wind leader Ørsted and PetroVietnam Technical Services Corporation Mechanical & Construction (PTSC M&C) announced the signing of a memorandum of understanding (MoU) to launch collaboration on offshore wind projects.
The agreement brings together Ørsted’s 30 years of experience of developing, building and operating world-class offshore wind farms with PTSC M&C’s strong track record and expertise in energy infrastructure in Asia-Pacific.
This collaboration aims to deliver state-of-the-art offshore substations for Ørsted and T&T’s proposed multi-Gigawatt pipeline of offshore wind projects to supply clean and reliable energy to Vietnam, supporting national Net-Zero targets. In addition to this domestic aspect, the collaboration also has an export angle to support Ørsted’s significant global pipeline of offshore wind projects.
Together, Ørsted and T&T Group are working with a large number of local partners and suppliers to deliver Vietnam’s first flagship offshore wind projects, targeting one project in the central south and one in the north by 2030. Offshore wind is an untapped natural resource, which like Vietnam’s oil and gas resources, can deliver significant economic benefits and provide reliable and domestic power in the quantities needed to fuel Vietnam’s booming economy.
Sebastian Hald Buhl, Country Manager of Ørsted Vietnam, says: “Ørsted is ready to support Vietnam to unleash its full offshore wind potential. Vietnam has some of the best conditions in Asia for offshore wind power, many outstanding engineering companies, and a highly skilled workforce. Today’s inaugural agreement between Ørsted and PTSC M&C demonstrates another step forward in our ambitions to collaborate closely with local suppliers to kick-start Vietnam’s new offshore wind industry.”
Dong Xuan Thang, PTSC M&C’s Managing Director, says: “The signing of this Memorandum of Understanding with Ørsted will play a very important role for PTSC M&C to develop its capacities for offshore wind market which is growing in Asia as well as other countries around the world.”