Vietnam, Australia Cooperate on Setting Up Offshore Wind Power Projects

Vietnamese Deputy Prime Minister Tran Hong Ha met with Australian Ambassador to Vietnam Andrew Goledzinowski and Corio Generation leaders from Australia's Macquarie Group in Hanoi on March 28.

Phuong Nguyen

March 30, 2024 | 02:20

Vietnamese Deputy Prime Minister Tran Hong Ha hailed the proactiveness of Corio Generation and Power Generation Joint Stock Corporation 3 (EVNGENCO 3) in the implementation of an offshore wind farm project in Vietnam.

Deputy Prime Minister Tran Hong Ha (right) hosts a reception for Australian Ambassador to Vietnam Andrew Goledzinowski on March 28 (Photo: VNA)

Describing it as a key project that contributes to expanding the comprehensive strategic partnership between Vietnam and Australia, and helps Vietnam realize the Just Energy Transition Partnership (JETP), the Deputy PM suggested Corio Generation focus on technology support and transfer and diversify partners in the country during the process of investment in Vietnam.

For his part, Goledzinowski said a pillar of cooperation in bilateral relations is green energy transition - an area that has been strengthened between Australia and Vietnam in recent times.

Some Australian businesses are very interested in building offshore wind farms because Vietnam has great potential to develop this type of power, he continued.

Meanwhile, leaders of Corio Generation company suggested that conducive mechanisms and policies should be issued to create favorable conditions for investors in the field of renewable energy.

Corio has joined in the research and development of some renewable energy projects in Vietnam since 2019. As a member of the Glasgow Financial Alliance for Net Zero (GFANZ), the company is coordinating with other partners to mobilize resources for energy transition projects in Vietnam.

Regarding the Power Development Plan VIII (PDP8), which was approved on 15th May 2023, Vietnam plans to increase the capacity of offshore wind from zero at present to 6GW by 2030 and a vision of 70 - 91.5 GW by 2050 to contribute to net zero targets established at COP26.

Viet Nam also has a very strong industrial base in terms of oil and gas, so construction. Therefore, offshore wind represents a particularly unique opportunity where not only can the energy source generate clean renewable power, but also there's an opportunity for the Vietnamese supply chain to provide some of the components and therefore to provide high-skilled jobs in the local economy as well.