Page 14 - AsiaElec Week 37 2021

AsiaElec RENEWABLES AsiaElec

Ørsted seals Vietnamese

wind tie-up with T&T

TAIWAN DENMARK-BASED Ørsted and Vietnam’s by 2030. To support this ambitious expansion,
T&T are to launch a strategic partnership on off- we must work closely with partners such as T&T,
shore wind in Vietnam. which has in-depth experience in developing
The two partners signed a strategic partner- major energy projects in Vietnam and which can
ship in Brussels on September 9 to develop a contribute to a deep understanding of the mar-
range of offshore wind projects in Vietnam. ket. Our mission is to create a world that runs
Ørsted and T&T’s projects are located off the solely on green energy and it requires strong
coast of Binh Thuan and Ninh Thuan provinces. support, so it is a great pleasure for an industry
The two companies also agreed to support the leader like T&T to join us in creating a more sus-
development of an effective regulatory frame- tainable future in Vietnam.”
work for offshore wind as part of a vibrant new Vietnam offers considerable potential for off-
industry in Vietnam. shore wind, and the world’s leading OEMs, such
With more than 3,200 km of coastline and as Vestas and Siemens Gamesa, are all develop-
high wind speeds, Vietnam has some of the best ing projects in the country.
conditions for developing offshore wind in Asia. The country has up to 309 GW of onshore
The World Bank estimates that Vietnam’s and offshore wind potential, according to the
potential in offshore wind is as large as 500 GW. World Bank. Vietnam is eager to catch up and
In addition to this enormous potential, the to develop renewables in order to lessen its reli-
rapidly growing demand for electricity in Viet- ance on dwindling domestic gas production,
nam means that in the coming decades there will imported LNG and coal.
be an urgent need for new stable energy sources Renewable capacity in the Asia-Pacific region
on a large scale. is set to rise by 60% to 815 GW by 2025, with
Combined with Vietnam’s great potential in solar power surpassing wind as the main driver
the supply chain, these factors have convinced of growth.
Ørsted and T&T Group that offshore wind will Recent analysis from Rystad Energy found
play a central role in Vietnam’s future energy that green capacity will grow from 517 GW to
mix. 815 GW by 2025, with solar nearly doubling
Do Quang Hien, CEO, and CEO of T&T, from 215 GW to 382 GW.
says: “Ten years ago, we started researching and Matthias Bausenwein, regional director for
preparing for the development of renewable Ørsted in Asia and the Pacific, says: “This dec-
energy so that we could be ready when the time laration of intent is a major step for Ørsted in
came. As a result, T&T has completed several establishing a strong foothold in Vietnam and
major solar energy projects and is well on its way showing our ambition to be a reliable, long-term
to completing five major onshore wind projects partner in the country. Together with T&T, we
by the end of 2021. Energy is a strategic focus look forward to using our multi-GW portfolio
area for the T&T Group, and we look forward to build a thriving local offshore wind industry
to accelerating our plans and adding valuable and to make Vietnam one of the leading offshore
knowledge and international investment to the wind markets in Asia and the Pacific, believing
Vietnamese offshore wind industry, in collabo- that offshore wind is one of the best ways to Viet-
ration with Ørsted, the world’s leading company nam can meet its rapidly rising electricity con-
in offshore wind.” sumption, as it is a reliable and national source
Martin Neubert, commercial director and of energy on a commercial scale, which can be
deputy CEO of Ørsted, says: “As the world’s competitive with coal and gas-fired power plants
leading company in offshore wind, Ørsted’s goal if implemented on a large scale and under the
is to reach an offshore wind capacity of 30 GW right regulatory framework. “™

P14 www. NEWSBASE .com Week 37 15•September•2021