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Vietnam Today

1GW of wind energy expected by 2021

Released at: 20:42, 12/06/2019

1GW of wind energy expected by 2021

Photos: Minh Do

Vietnam set for wind energy expansion, Hanoi conference hears.

by Minh Do

The Global Wind Energy Council (GWEC) is hosting the second annual Vietnam Wind Power Conference on June 11 to 12 in Hanoi, gathering together major international wind power companies, energy authorities, financial institutions, and regulators to discuss the potential for wind energy in Vietnam and the impact of renewables in the region.

The full-day conference on June 12 features a range of plenary and parallel sessions, including regulatory, market, policy, technology, offshore, and other pressing issues relating to the development of a sustainable wind and renewables industry.

GWEC also launched its new South East Asia Task Force, a key tool to promote wind energy in emerging regional markets. The council will act to engage governments and stakeholders in the region and will produce research and policy papers and much more in order to assist in the growth of the renewable energy sector in the region.

The first report published by the task force, “South-East Asia Market Update: Insights on Vietnam”, was released on June 12 at the event and provides insights on how Vietnam can be a wind power leader in the region with over 327MW of onshore and offshore wind capacity already installed.

The report is exclusively available for GWEC members and part of its new Market Intelligence platform. It includes more than 30 tables and figures charting the market outlook for the Southeast Asia region to 2030.

“Southeast Asia has all the fundamentals in place to become the next big wind power market,” said Mr. Ben Backwell, CEO of GWEC. “With a rising population, growing GDP, ever-increasing power demand and concerns over energy security, wind power is helping to meet the region’s growing energy demand in a way that is low carbon and cost efficient and brings local economic benefits. The new report shows that Vietnam has among the highest potential in the region for both onshore and offshore wind, with 1GW expected to be installed by 2021.”

“The country’s 3,000-km coastline has some of the best resources for both onshore and offshore wind, and it is the only country in the region that has developed offshore wind, with 99MW already installed. We are pleased to return to Hanoi for the second year in a row with the support of the government and industry to explore how Vietnam can emerge as a wind power leader and set an example for the region.”

According to Ms. Liming Qiao, Asia Director of GWEC, changes in local policies are giving the industry renewed momentum and creating significant opportunities for the wind energy market to grow in Vietnam and the Southeast Asia region as a whole. With a favorable feed-in-tariff and ambitious renewable energy targets to 2030, it is clear that the government is ready to make the shift to clean energy. However, coal continues to be the dominant source of energy in the region, and roadblocks like project financing and bankable power purchasing agreements (PPAs) must be overcome to continue expansion in the region.

“We are looking forward to working together with all the stakeholders in the region through our new South East Asia Task Force, to develop the right regulatory frameworks and overcome these roadblocks to ensure that the true benefits of wind power can be realized in the region,” she said.

The Vietnam Wind Power Conference 2019 is the official industry event and takes place under a partnership between GIZ, the Embassy of Denmark, and the Embassy of Ireland. The first day, June 11, featured a full-day workshop focused on addressing the burning issues facing the financing of wind power projects and was specifically targeted at international and local financial institutions, development banks, and government officials. Running in parallel with the workshop was a high-level offshore roundtable that brought together government and industry to discuss the role of offshore wind in the emerging wind market.

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