Proposed $4.6 Billion Project in Binh Dinh Province
Just a few days ago, Secretary of the Binh Dinh Provincial Party Committee Ho Quoc Dung and Chairman of the Provincial People’s Committee Pham Anh Tuan met with Mr. Per Hornung Pedersen, Chairman and CEO of PNE Group (Germany), to discuss a $4.6 billion offshore wind power project.
With over 25 years of experience in developing onshore and offshore wind power projects, the PNE Group has registered to research and survey investment in an offshore wind power project in Binh Dinh Province with a capacity of 2,000 MW. The project is planned in three phases with a total investment of approximately $4.6 billion (over $1.5 billion invested in each phase).
Offshore wind power has garnered attention from domestic and foreign businesses. Illustration: OW |
PNE’s interest in offshore wind power in Vietnam marks the return of foreign investors to this field after some had withdrawn. This also raises the issue of the need to soon perfect policies to attract investment in this novel field.
Earlier, Minister of Industry and Trade Nguyen Hong Dien, during a working session with Binh Dinh leaders in August, affirmed the ministry’s support for the offshore wind power project in Binh Dinh. The Ministry of Industry and Trade is developing a pilot scheme for the development of offshore wind power. However, as offshore wind power is related to national security, initially, only state-owned economic groups are expected to participate in this field.
The Ministry of Industry and Trade has requested relevant units to support the locality by suggesting that they joint venture or partner with one of the state-owned economic groups of Vietnam to facilitate the implementation of the project. The ministry will also propose to the government to pilot allowing one foreign group to invest in the offshore wind power project.
In a report sent to the National Assembly on the implementation of the Resolution on questioning, the Ministry of Industry and Trade said that it would maximize the technical potential of offshore wind power (about 600,000MW) for electricity and new energy production. By 2030, the capacity of offshore wind power to meet domestic electricity demand will reach about 6,000MW; the scale can be increased if technology develops rapidly, and electricity and transmission costs are reasonable, then the orientation by 2050 will reach 70,000 – 91,500 MW.
Mechanism for Offshore Wind Power Needs to Be Issued Soon
Discussing the way forward for offshore wind power, Dr. Du Van Toan, Institute of Environmental Science, Sea and Islands, Ministry of Natural Resources and Environment, said that offshore wind power in Vietnam has great potential, especially in the South Central region. Therefore, the registration of sea area for survey and investment implementation is “hot.”
According to Dr. Du Van Toan, there are four obstacles to offshore wind power projects as identified by the Ministry of Industry and Trade: It is unclear which authority has the competence to assign the sea area and to permit or approve organizations to use the sea area to carry out measurement, monitoring, investigation, exploration, and survey activities to serve the establishment of offshore wind power projects.
The National Sea Spatial Planning has not been approved, so there is no basis for implementing Electricity Planning VIII. Obstacles in terms of competent authority to approve investment policies. Conditions for foreign investors to access the market in the field of offshore wind power. Mr. Toan suggested that the story of planning needs the Law on Electricity (amended) to soon review the issue of licensing with measurement standards.
From this reality, Dr. Du Van Toan proposed a mechanism to serve the pilot project and suggested that the National Assembly issue a Resolution on the pilot development of offshore wind power, with a scale of 1,000 MW – 2,000 MW, along with the time and prices for implementation.
Commenting on the draft Law on Electricity, the Vietnam Oil and Gas Association proposed that there should be a mechanism to entrust the Government/Prime Minister to specify the contents of investment policies; divide the stages of offshore wind power development according to the capacity and development level of energy enterprises; and criteria for selecting investors in the field of wind power…
In addition, the Government needs to regulate the investigation, survey, exploration, and measurement work at sea and assign the sea area to invest in offshore wind power projects; standards/criteria, norms, and prices related to investment in construction for the field of offshore wind power investment (including infrastructure system serving investment); promulgate a framework of policies on prices and mechanisms for offshore wind power prices; and mechanisms to encourage and encourage offshore wind power projects and mechanisms for direct electricity sales/exports abroad from offshore wind power sources.
Luong Bang
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