The Global Wind Energy Council believes Vietnam will have a combined 1 GW of on and offshore wind three years from now
The Global Wind Energy Council believes Vietnam will have a combined 1 GW of on and offshore wind three years from now.
At the Vietnam Wind Power Conference on 11 June 2019, GWEC launched its new South East Asia Task Force, a tool to promote wind energy in emerging markets. The first report published by the task force, Market Update on South East Asia – Insights on Vietnam, provides insights on how Vietnam can be a wind power leader in the region with more than 327 MW of onshore and offshore wind capacity already installed.
GWEC chief executive Ben Backwell said, “Southeast Asia has all the fundamentals in place to become the next big wind power market. 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 3,000-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 99 MW already installed.”
GWEC Asia director Liming Qiao said, “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 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 southeast Asia markets, and we must overcome roadblocks like project financing and bankable PPAs to continue expansion within the region.”