Vietnam seen as wind power leader in Asia outside China, India: GWEC official

Thang made the remarks at a press conference organized on Tuesday by GWEC in coordination with Tai Chinh - Dau Tu (Finance – Investment) newspaper.

The briefing provided updates on the Asia-Pacific Wind Energy Summit 2026, to be held in Hanoi from June 9 to 11, focusing on policy frameworks, investment, and supply chain development in the region’s wind power sector.

According to Thang, Vietnam’s revised Power Development Plan VIII sets targets of 26-38 GW of onshore wind capacity and around six GW of offshore wind by 2030.

He noted that Vietnam’s offshore wind potential, estimated at around 600 GW, is among the strongest in the region, with most of it expected to come from fixed-bottom projects due to the country’s relatively shallow continental shelf.

With this advantage and taking a broader view of countries in Asia (excluding China and India), Vietnam could be seen as a regional leader in both onshore and offshore wind power.

This structural edge helps lower development costs compared with markets that rely more on floating turbine technology, such as South Korea and Japan.

Thang said the 26-38 GW onshore target is highly ambitious but achievable if supportive policies are effectively implemented, particularly measures to strengthen domestic supply chains and attract foreign direct investment.

He also highlighted Vietnam’s rapidly rising electricity demand, growing at double-digit rates, as a key factor making wind power an increasingly important part of the national energy mix.

Thang, however, warned that the global offshore wind sector is facing pressure from supply chain constraints, including rising turbine prices and higher service costs.

As a relatively new market, Vietnam is likely to be viewed by investors as higher risk compared with more mature offshore wind markets.

This underscores the need for a clear offshore wind strategy that integrates pricing mechanisms while balancing energy security, industrial development, and broader economic resilience.

Alessandro Antonioli, Vietnam country director at Denmark-based Copenhagen Infrastructure Partners, said Vietnam stands out in the region for its strong wind resources, stable conditions, and long coastline.

He noted that the country’s expanding economy and manufacturing base are driving demand for stable, affordable, and sustainable electricity.

Antonioli also spotlighted Vietnam’s offshore oil and gas industry as a key advantage for offshore wind development, pointing to decades of offshore experience among local firms.

He said Vietnam is well positioned to advance market mechanisms such as direct power purchase agreements, stressing that policy improvements need to go beyond incremental changes, particularly in licensing timelines and electricity pricing frameworks.

He added that the current power purchase agreement model is not yet sufficient for international project financing, saying that without clearer conditions for electricity sales, investors are unlikely to commit additional capital.

Nguyen Tuan, head of the Commercial Division at Petrovietnam Technical Services Corporation (PTSC), said Vietnam should accelerate offshore wind development, strengthen domestic supply chains, and establish appropriate pricing mechanisms to optimize costs and help reduce electricity prices.

He noted that PTSC is developing an offshore wind power export project targeting Singapore as part of a cross-border energy initiative.

The company is also expanding its fabrication yard in Vung Tau Ward, Ho Chi Minh City to assemble large offshore wind structures, while investing in specialized vessels and heavy-lifting equipment for offshore installation work.

It is further promoting the development of regional renewable energy industrial and service hubs in both northern and southern Vietnam, which would support emerging sectors such as green hydrogen and green ammonia.