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    PNE AG and Binh Dinh cooperate to develop $4.6 billion wind farm


    November 27, 2022 - Vietnam Investment Review (VIR)

     

      Binh Dinh People's Committee and PNE AG - a multinational wind power group - signed an agreement to develop a $4.6 billion offshore wind farm on November 21.

      At the ceremony on November 21 (Source:Zing.vn)

      The signing ceremony was organised within the framework of an investment promotion event between Binh Dinh and Germany.

      PNE AG hopes to turn Vietnam into a competitive wind power supplier in the southeastern region and beyond.

      It is a remarkable milestone after more than two years since the investor expressed its desire to survey and set up an offshore electric wind farm in the province.

      In September 2020, leaders of the company met with the leadership of Binh Dinh People's Committee to share this plan. However, at the time, the investor just proposed an investment of $1.3-1.5 billion and a total area of 2,200-2,500 hectares.

      Following this, in October 2020, the province approved in principle for PNE AG to survey a sea area in Phu Cat and Phu My districts. At the time, the German company proposed building a 2GW project in three phases, with 700MW by 2025, then another 700MW by 2026, and the last 600MW in 2027.

      Over the past two years, the province has sped up the survey for the project and assigned local authorities to collaborate with the company in identifying the survey area.

      PNE operates in 13 countries on four continents and is expected to invest around $4.8 billion in this project. Its plan is to build over 50 wind turbines, with the potential of reaching as many as 165, achieving a total capacity of up to 2,000MW.

      Offshore wind future in balance for Vietnam

      The long-awaited Power Development Plan VIII is set to target the development of about 7GW of offshore wind power in Vietnam. However, both investors and localities are waiting for a clearer roadmap.

      Offshore wind bonanza within reach for the country

      Vietnam's offshore wind potential comes with its own set of hurdles and restrictions. David Harrison, partner at Mayer Brown's Vietnam Office, talked with VIR's Nguyen Thu about wind energy's role in Vietnam's energy transition.

      Moves made to tighten up offshore approval rulings

      The Ministry of Natural Resources and Environment has proposed to the prime minister a temporary freeze on valuations and approvals to study offshore wind projects until existing regulations and technical issues have been removed.

      Bespoke answers vital for offshore wind gains

      Offshore wind is one of the fastest-growing energy sectors in the world, and is set to be a transformative force for the global energy transition. Bui Vinh Thang, country manager in Vietnam at the Global Wind Energy Council (GWEC), told VIR's Nguyen Thu how future policy for steady and sustainable growth can be ensured, providing sufficient time for the industry to take off and mature in Vietnam.

      By Ha Vy

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