Wind Power Potential in Vietnam Attracts International Businesses

Wind Power Potential in Vietnam Attracts International Businesses

With vast untapped wind energy potential, Danish investors in the energy sector in particular and international investors in general are very interested in the Vietnamese market.

Investment in VietnamAt the seminar on Wind Energy in Vietnam, titled "Investment and Wind Profits" organized by the Embassy of Denmark in Vietnam in Ho Chi Minh City on December 5, many experts said that "The potential of wind power in Vietnam arouses a lot of interest from international businesses."

Mr. Bo Monsted, Commercial Counselor, Embassy of Denmark in Vietnam assessed, “with great potential for untapped wind power, Danish investors in the energy sector in particular and international investors in general are very interested in Vietnam. Investment in renewable energy is also in line with Vietnam's policy on developing alternative energy sources for traditional ones, ensuring energy security in parallel with environmental protection. With experience and tradition in this field, Denmark desire to share new technologies for wind power industry in Vietnam.”

At the same point of view, Mr. Pham Trong Thuc, representative of the Ministry of Industry and Commerce mentioned that "the current resources of the country is facing lots of difficulties in the development of renewable energy in general and wind power in particular. Therefore, the Government strongly encourages international investors to invest in this area, thereby transferring technology to local producers.

Besides, the Government will support more preferential policies in the future for investment and development of renewable energy. The workshop is an opportunity for international businesses to better understand the incentives and potential for investment in wind power in Vietnam.

According to experts, the potential for wind power in Vietnam is very large, concentrated in the provinces from Quang Ngai to Binh Thuan. However, this potential has not yet to be fully exploited, as only four commercially viable projects with a total installed capacity of only 159 MW have been installed.

According to Nguyen Viet Dung, Director of Director of the Vestas Vietnam Company, “the purchase price of wind power in Vietnam is still low, but this is not the biggest concern for investors. A successful wind power project needs many factors and with the potential of high wind reserves like in Vietnam, the investment in wind power projects here is still very attractive.”

However, investors need to ensure the operational efficiency of their projects by using cutting-edge technologies to protect the environment, he added.

/bnews.vn/

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