UK businesses eye offshore wind farm projects in Vietnam
VOV.VN - A group of 14 British firms specializing in renewable energy technology and services arrived in Vietnam this week to sound out cooperation opportunities, including in offshore wind power development.
The British firms explored opportunities for cooperation and investment in renewable energy, such as offshore wind power, power transmission and storage.
Vietnam is considered a primary destination for the British businesses to expand their operations in the Asia-Pacific region, as the renewable energy industry is in its infancy and there is great potential to develop this industry in the country.
Denzel Eades, a representative of the British Business Group in Vietnam, said there is much room to develop the offshore wind power market in Vietnam thanks to its favourable geographical position and incentive policies.
British businesses with a wealth of extensive expertise look forward to contributing to this vibrant market, said Eades.
During their stay, the British businesses the Green Economy Forum 2023 hosted by the European Chamber of Commerce in Vietnam (EuroCham) and the ASEAN Wind Energy Conference and Exhibition 2023.
The UK is the world’s second largest offshore wind market. Under the British Energy Security Strategy (BESS) unveiled in April 2022, the UK targets offshore wind capacity of up to 50 gigawatts by 2030.
Meanwhile, Vietnam has a long coastline of more than 3,400 km. The World Bank estimates that the potential wind power capacity in Vietnam is about 475 gigawatts.
