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Vietnam’s wind sector shows a stark contrast: onshore thrives, offshore is still stalled. (Photo: iStock)
Vietnam’s offshore wind potential remains largely untapped, and the sector is progressing at a relatively slow pace. Nevertheless, multinational companies from the U.S., Europe, and China continue to express strong confidence in its long-term prospects.
Bruno Jaspaert, Chairman of the European Chamber of Commerce in Vietnam, noted that 2027 will be a pivotal year if the Vietnamese government is to stay on track with its offshore wind capacity targets.
Pacifico Energy starts with onshore wind in Vietnam push
Several energy giants have announced plans to develop offshore wind projects in Vietnam this year. Among them is U.S.-based Pacifico Energy. During a visit to Vietnam in March, the company’s founder and chairman Nate Franklin reaffirmed its commitment to large-scale offshore wind investment in a meeting with Prime Minister Pham Minh Chinh.
Franklin emphasized that the group is investing billions of U.S. dollars into offshore wind, a move expected to not only enhance Vietnam’s energy security but also attract high-quality foreign investment in sectors such as semiconductors, data centers, and artificial intelligence—paving the way for more sustainable economic growth.
Currently, Pacifico Energy is preparing to begin commercial operations for a 30 MW onshore wind project in Ben Tre Province, backed by an investment of USD 48 million.
Despite last year’s market exits by Danish firm Ørsted and Norway’s Equinor, some European players remain committed. German developer PNE is continuing work on its Hon Trau project in Binh Dinh Province, which carries a total investment value of USD 4.6 billion. The first phase, with a planned capacity of 750 MW, could begin operations as early as 2030.
Meanwhile, Copenhagen Infrastructure Partners (CIP) of Denmark is collaborating with a local state-owned enterprise to develop the La Gan offshore wind project in Binh Thuan Province. With a proposed capacity of 3.5 GW, the project could be a cornerstone in establishing a domestic offshore wind supply chain.
China’s Power Construction Corporation has adopted a strategic alliance approach. In May, it signed a cooperation agreement with Vietnam’s Trungnam Group to build a factory in Ninh Thuan Province for producing wind turbine towers and steel structures.
Pacifico Energy is preparing to begin commercial operations for a 30 MW onshore wind project in Ben Tre Province. (Photo: Pacifico Energy)
Policy and infrastructure shortcomings raise investor concerns
Compared to solar and other renewables, Vietnam’s policy stance on offshore wind has been inconsistent. While the sector is now officially part of the national power development plan (PDP8) and has garnered foreign support, Jaspaert acknowledged that most projects remain on paper with little tangible progress.
He further explained that offshore wind projects typically require 6–7 years to complete. The legal procedures and financing stage alone can take up to 4 years, followed by roughly 3 years of construction. If the government aims to reach its 6,000 MW offshore wind capacity target by 2030, initial projects must break ground no later than 2027.
Stuart Livesey, Vietnam country director for CIP, added that unlike solar and onshore wind, offshore wind and energy storage lack clear policy direction. Weak infrastructure, particularly in grid transmission and port development, continues to be a barrier for investors. Still, Livesey emphasized that offshore wind investment is a long-term endeavor that requires patience and consistent effort to realize its full potential.
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Vietnam approved the revised version of its National Power Development Plan (PDP8) in April this year, reinstating offshore wind power in its energy roadmap. (Chart: RECCESSARY)
GIZ backs offshore wind–led green manufacturing
As offshore wind becomes a strategic focus, the Vietnamese government is also aiming to develop renewable energy manufacturing and service hubs to enhance the value of its traditional industrial supply chains.
According to a study by the German Agency for International Cooperation (GIZ), Vietnam should first capitalize on existing oil and gas infrastructure near major ports. The report suggests clustering equipment manufacturers and tier-1 suppliers in key regions such as Haiphong, Quang Ninh, Ba Ria–Vung Tau, and Binh Thuan. This initial concentration is expected to stimulate the growth of tier-2 and tier-3 suppliers.
Santiago Alonso Rodriguez, Head of German Development Cooperation at the German Embassy in Hanoi, emphasized that building hubs should go beyond basic power infrastructure. Instead, Vietnam should aim to create a fully integrated offshore wind ecosystem. This involves aligning industry, education, logistics, and policy to generate long-term national value.
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