Ørsted and Vietnamese cross-industry company T&T Group have launched a strategic collaboration on offshore wind in Vietnam.
The collaboration between Ørsted and T&T brings together a multi-GW pipeline of greenfield offshore wind projects located off the coasts of the Binh Thuan and Ninh Thuan provinces, said to be Vietnam’s most suitable areas for offshore wind development.
The partners will work to mature this offshore wind pipeline and to support the development of an effective regulatory framework for offshore wind and new industry in Vietnam.
Martin Neubert, chief commercial officer and deputy-CEO at Ørsted, said: “As the global offshore wind leader, Ørsted targets 30 GW of offshore wind by 2030. To support this ambitious build-out, we need to work closely with partners such as T&T, who has an impressive track record of developing large energy projects in Vietnam, and who brings a deep understanding of the market.”
With more than 3,200 km of coastline and high consistent wind speeds, Vietnam has some of the best conditions for developing offshore wind in Asia. The World Bank Group estimates Vietnam’s offshore wind potential to be up to 500 GW.