The German company PNE plans to invest US$4.8bn to develop a 2 GW offshore wind project in the Phu Cat and Phu My districts of the Binh Dinh province, the South Central Coast region of Vietnam. The project will be implemented in three phases. The first 700 MW phase would cost US$1.6bn and is expected to enter construction in 2024.
According to the National Steering Committee for Electricity Development, Vietnam should reach 6 GW of wind power by 2025 and 10 GW in 2030. According to a study promoted by the World Bank and Danish Energy Agency (Input to Roadmap for Offshore Wind Power Development in Vietnam, September 2020), Vietnam has an offshore wind potential of 160 GW within the distance to shore from 5 km to 100 km. The parties recommend a 10 GW development which could be operational by 2030 (1 GW in 2020-2022, 3-5 GW in 2023-2025).
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