Tokyo-based renewable energy developer Renova and Petrovietnam Technical Services Corporation (PTSC) have signed a memorandum of understanding to collaborate on an offshore wind power project in Vietnam.
The deal will see the two companies work together on scouting, preparation, offshore survey, development, construction, implementation, operation, and maintenance of an offshore wind power project with a view toward commercialisation.
Renova is developing the 700 MW Akita Yurihonjo offshore wind farm in Japan, while PTSC has actively participated in providing services for most of the nearshore wind power projects in the Vietnam’s southwest region and also has a long-term contract for provision of support vessels for the transportation of personnel and operation & maintenance equipment of wind power projects in Binh Dai – Ben Tre and Tra Vinh provinces.
This signing ceremony was arranged in a special ceremony at the Asia Green Growth Partnership Ministerial Meeting’s public-private forum organised by the Japanese government as an action to Asia’s energy transition in line with the Asia Energy Transition Initiative (AETI) announced by Japan in May 2021.
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 estimated Vietnam’s offshore wind potential to be up to 500 GW. Offshore wind giant Ørsted has also partnered up with Vietnamese cross-industry company T&T Group, bringing 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.