Vietnam plans to install 4 GW of wind power by 2025

Today, Vietnam has become the fastest-growing wind energy market in the Asia-Pacific region, with plans to commission 4 GW wind farms by 2025, Ecotown reports.

Onshore and offshore wind farms with a total capacity of 500 MW are operating in Vietnam. It is assumed that by the end of 2021, 1.65 GW of wind power projects will be implemented.

“Vietnam's wind energy sector will face a slowdown in investment flows due to uncertainty about the investment base,” said experts from the global wind energy council GWEC. “Further delays in the expansion of green tariff schemes for wind energy will hamper supply chain development and cost reductions in the wind emerging market, which could ultimately undermine the country's goal of affordable, reliable and clean electricity.”

The Vietnamese wind market is clearly benefiting from foreign capital flows: 4 GW, due in 2025, could create up to 65,000 jobs and attract about $ 4 billion in investment.

The GWEC said that to realize this potential, the Vietnamese authorities must act now. In turn, the republic's government is now considering the possibility of expanding and introducing a new scheme of "green" tariffs for wind energy FiT.

Earlier, it was reported that the UK plans to invest about $ 206 million in offshore wind energy development.

Tags: renewable energy, wind energy, legislation, Asia, feed-in tariff, investments

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