Vietnam contains one of the highest potential for wind power in the region, as it is endowed with high wind speeds particularly in the offshore or near-shore areas. Fitch Solutions, a subsidiary of Fitch Group, expects growing opportunities in Vietnam’s wind power sector, mainly thanks to stronger regulatory support announced in recent weeks and rising investor interest. The Vietnamese government has proposed several policies in recent months to boost the development of the wind power sector, in particular offshore wind, which bodes well for the industry, Fitch Solutions said in its latest report. It noted that Vietnam contains one of the highest potential for wind power in the region, as it is endowed with high wind speeds particularly in the offshore or near-shore areas, with the Ministry of Industry and Trade (MoIT) estimating this potential to be at approximately 475GW. Vietnam – Total Installed Wind Power Capacity, MW. In March 2020, Prime Minister Nguyen Xuan Phuc issued a resolution for a five-year plan to 2025 to develop renewable energy sources ‘off the coast’, with specific mechanisms and policies to attract both foreign and local developers to invest in the sector. In particular, Binh Thuan, Bac Lieu and Ca Mau were… Read full this story
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