Vietnam plans to double wind power by 2030

25/12/2024, 11:04

Consumption rebound will drive VNM’s growth in 2025

Vietnam has the best wind resources in Southeast Asia, featuring yearly average wind speed of 9-10 meters per second.

Vietnam has set a plan to develop roughly 12,000 megawatts (MW) of wind power by 2030, doubling the capacity of 600 MW in 2020.

The plan has been included in the draft National Power Development Plan VIII (Draft PDP8) for 2021-2030 compiled by the Ministry of Industry and Trade (MoIT).

A wind project was developed in Binh Thuan Province. Photos: Trungnam Group

Under the Draft PDP8, wind power will be substantially developed from the capacity of about 600 MW in 2020 to over 11-12 GW in 2025 and over 18-19 GW in 2030. The ratio of wind power capacity will account for 12% of the total installed capacity in 2025 and 13% in 2030.

The wind and solar sources are expected to reach over 42% in 2045.

Potential resources

Vietnam is considered to have the best wind resources in Southeast Asia, especially in the nearshore/offshore and onshore coastal regions in the south of Vietnam. In these areas yearly average wind speeds of 9 to 10 meters per second are measured.

Noteworthy is that Vietnam is vulnerable to extreme weather events like storms and typhoons, especially in July, August, September, and October.

Besides excellent wind resources, the cost of producing electricity from wind has decreased continuously over the last decade. After the feed-in tariff (FIT) for onshore wind power was raised to 8.5 US cents/kWh in 2018, the sector is finally taking off.

The inventory of existing onshore wind power projects in Vietnam shows that the sector is on track to meet the government targets for 2020 and 2025.

According to the Global Wind Energy Council (GWEC), Vietnam’s wind market is at an inflection point. Today, wind makes up roughly 1% of Vietnam’s electricity production, the opportunity ahead is to accelerate into a phase of rapid wind power growth to meet the country’s increasing electricity demand, ensure energy security, and deliver socio-economic benefits in pursuit of a renewables-led pathway.

“We are only just scratching the surface of the country’s wind power potential,” said GWEC.

Vietnam’s largest wind farm underway

Ea Nam Wind Farm, Vietnam's largest wind power project located in Dak Lak Province.

Ea Nam Wind Farm, the largest onshore wind power project in Vietnam, is racing against time to be operational by the end of this year.

Located in the Central Highland province of Dak Lak, the 400-MW wind farm is expected to generate 1.1 billion kWh/year.

With an investment of VND16.5 trillion (US$717 million) by Trungnam Group, a private conglomerate that specializes in energy, infrastructure, and real estate, the wind power project uses Germany-based Enercon’s turbines.

“By introducing our latest technology, we are increasing the feasibility of the projects under the current [feed-in tariff program] and are also well prepared for the projects beyond 2021 when a new regulation is expected to apply,” Steffen Brauns, Enercon’s regional sales manager for Asia-Pacific.