Vietnam Plans to Double Wind Power With $13bn Facility

Vietnam is hoping to double its wind power capacity with a $13 billion offshore facility developed by a US energy company.

AES Corporation plans to build a 4,000 megawatt (MW) wind farm off Vietnam’s central province of Binh Thuan, the Ministry of Industry and Trade said.

The country has about 4,000 MW of wind capacity and wants to install 11,700 MW by 2030 and 66,000 MW by 2045, according to state media.

AES submitted a letter of intent to develop the project to a Vietnamese energy delegation during an annual Vietnam-US energy security dialogue in Washington earlier this week, the ministry said.

Hydrogen, power storage and nuclear energy were also discussed at the dialogue, the statement added.

Vietnam, a regional manufacturing hub, is seeking to boost renewable energy development and reduce its reliance on coal for power generation. The government last year pledged alongside other major coal users to become carbon-neutral by 2050.

The ministry this week asked the government to remove future coal-fired power projects with a combined capacity of 14,120 MW from a draft national master power development plan.

Vietnam is the largest power generator in Southeast Asia, with total installed generation capacity of 76,620 MW at the end of 2021, according to state-run utility EVN. Wind and solar accounted for about 27%.

AES did not immediately respond to a request for comment.

Reuters, with additional editing by George Russell

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.