German company PNE will build a 2 GW wind farm in Vietnam, Ecotown reports.
The wind farm will be built off the South-Central coast of Vietnam. $4.8 billion will be invested in the project.
The wind farm will be installed near Phù Cát and Phù Mỹ districts of Bình Định province. The project will be implemented in three stages. With a capacity of 700 MW, the first stage will cost $1.6 billion and is expected to be launched in 2024.
According to the National Steering Committee for Electricity Development, Vietnam is set to achieve 6 GW of wind power by 2025 and 10 GW by 2030. According to a study by the World Bank and the Danish Energy Agency (contribution to the Vietnam offshore wind power roadmap, September 2020), Vietnam has an offshore wind power potential of 160 GW at a distance of 5 km to 100 km offshore. The parties recommend developing a project with a capacity of 10 GW, which can be commissioned by 2030 (1 GW in 2020-2022, 3-5 GW in 2023-2025).
As reported, South Korea planned to ramp up renewable energy sources' capacity from 6.5% to 21% by 2030.