Vietnam To See 1 Gigawatt Of Onshore Wind Installed By 2021
The Global Wind Energy Council expects Vietnam will install 1 gigawatt (GW) of new onshore wind capacity by 2021 in a move it believes could solidify the country as a regional wind power leader, while the Vietnamese government is said to be considering increasing its wind energy target to 6 GW by 2030.
Image Credit: TSV Investment
The Global Wind Energy Council (GWEC) is holding its annual two-day Vietnam Wind Power Conference on Tuesday, held for the second time to gather together major international wind energy companies, energy authorities, financial institutions, and regulators, so as to discuss the future of wind energy in Vietnam. To further celebrate the event, GWEC also launched its new South East Asia Task Force which it hopes will act as a key tool to promote wind energy in the South East Asian region. The Task Force will seek to work with governments and stakeholders across the region as well as producing research and policy papers intended to help support the growth of renewable energies in the region.
First among these research and policy papers is the Task Force’s Market Update on South East Asia — Insights on Vietnam, similarly launched Tuesday to coincide with the Conference and the unveiling of the new Task Force.
According to the Task Force, Vietnam already has 228 megawatts (MW) worth of onshore wind installed and 99 MW worth of offshore wind — the only country in the region to have begun offshore wind development.
“South East Asia has all the fundamentals in place to become the next big wind power market,” said 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, cost-efficient and bringing local economic benefits.
“GWEC Market Intelligence’s new report shows that Vietnam is the country with one of the highest potentials in the region for both onshore and offshore wind, with 1 GW expected to be installed by 2021. The country’s 3,000km 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 99 MW 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.”
“Changes in local policies is giving the industry renewed momentum and creating significant opportunities for the wind energy market to grow in Vietnam and the South East Asia region as a whole,” added Liming Qiao, Asia Director of GWEC. “With a favourable Feed-in-Tariff and ambitious renewable energy targets up 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 for the South East Asia markets, and we must overcome roadblocks like project financing and bankable PPAs to continue expansion within 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 realised in the region.”
The larger Vietnam report is exclusively available for GWEC members and as part of GWEC’s new Market Intelligence platform.
At the same time as GWEC was promoting the country’s wind potential, the Vietnamese government has reported used the conference to capitalize on that potential, with various outlets (pointing to the Vietnam News Agency) reporting the country’s government is looking to increase its wind power capacity to 2 GW by 2025 and 6 GW by 2030.
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