At Asean Energy Wind 2023 (AWE) hosted by Leader Associates on 30th October, Thomas Jakobsen spoke on the topic “Wind Power – How can Vietnam implement in a financially responsible way.”
Vietnam’s geographical location makes it ideal for harnessing wind power. Its long coastline and various inland regions offer significant wind resources. Vietnam is targeting the following production goals: Onshore wind power to be developed to a capacity of 21,880 Megawatts (MW) by 2030. Offshore wind power to be developed to a capacity of 6,000 MW by 2030.
For onshore wind, Thomas highlighted that the most suitable solution is DPPA as it makes all investments private and without risk for Vietnam/EVN. All remaining 18 GW until 2030 can easily be absorbed by private investors and off-takers.
The current advocacy issues for off-shore wind including exclusive Survey Rights that should not be linked to a price; guarantees on grid capacity/availability and Functional PPAs with grid certainty. He explained that these are the demands of Western developers and no guarantee for Vietnam that same developers work here long-term and gave specific examples from around the world of this problem. The solution for off-shore wind is to utilise the existing regional supply chain and gradually localise it.
Indochina Energy Partners believe the implementation of wind power not only reduces greenhouse gas emissions but also promises long-term economic and energy security. With the right strategies, Vietnam can navigate its way to a sustainable, clean, and economically responsible energy future.