Vietnam Wind Power 2021 event launched

The two-day event takes place on the sidelines of the Vietnam Energy and Technology Forum organised by the State Agency for Technology Innovation.

The event was co-sponsored by the Norwegian Embassy and its Commercial Section - Innovation Norway, in collaboration with the Embassy of Denmark, Embassy of Germany, the German Agency for International Co-operation and the British Embassy.

The event, believed to be the largest event of the wind power industry in the country, provides an opportunity for participants to share, connect and discuss new opportunities for the renewable energy industry in Vietnam.

It also brings together Vietnam’s leading policy makers, wind industry leaders, investors and other key stakeholders locally and internationally.

Four Norwegian companies -- Equinor, Mainstream Renewable Power, DNV and Scatec -- will participate in different panels to share their insights and experiences on different topics, including auctions, project finance and asset management; mergers and acquisitions, investment and capital raising; and certification, standardisation and human capital development and optimisation of electricity production.

Like Vietnam, Norway is a coastal nation with abundant offshore wind resources, and a well-established oil and gas industry. It is also vulnerable to climate change.

Thanks to its maritime and offshore expertise, Norway is in a unique position to contribute to the growing market for offshore wind.

Norwegian companies are ready to work with local partners by sharing expertise and technology to help Vietnam in its energy transition process, to fulfil its climate commitments under the Paris Agreement and COP26, and contribute to Vietnam’s sustainable economic growth, said Director of Innovation Norway Hanoi, Commercial Counsellor Arne-Kjetil Lian.

Norwegian Ambassador to Vietnam Grete Lochen said the conference would contribute to accelerating much-needed energy transformation to ensure sustainable economic growth.

A multi­ stakeholder approach is key and will give input to policymakers of predictable and more effective policy solutions, she said.

Offshore wind power in Vietnam was expected to reach 10GW by 2030.

The Global Wind Energy Council calculated that the first 4-5GW of offshore wind power in Vietnam will require an investment of between 10 billion USD and 12 billion, however as it is an inexhaustible resource that reduces the need to spend money to import fuels such as coal power and gas. After all, it could help reduce the cost of fuel by 650-800 million USD./.