Home / Investment / Opportunities
Enterprize Energy eyes to invest US$12 billion in Vietnam’s offshore wind power
Nhat Minh 12:03, 2020/10/02
If the project is approved by the Vietnamese government, the investor’s partners will come to Vietnam to manufacture wind turbine.

UK-based Enterprize Energy is seeking approval from the Vietnamese government to invest US$12 billion in an offshore wind power project off the coast of the central province of Binh Thuan.

 The meeting between Prime Minister Nguyen Xuan Phuc and the UK delegation on September 30. Photo: VGP

Ian Raymond Hatton, chairman of the UK energy group, told Prime Minister Nguyen Xuan Phuc at the meeting on September 30 that the group will invest in wind power, transmission network, and wind turbine manufacturing in the country. They are working closely with Binh Thuan province’s government and local partners to speed up the project.

The group plans to use electricity from the project to electrolyze seawater for producing liquefied hydrogen gas and ammonia. In the first phase, it plans to mobilize investment capital from foreign partners and also invest in transmission lines to connect to the national power grid.

In particular, Mr. Hatton proposed the prime minister add the wind power project to the Vietnam National Power Development Plan (PDP) VIII with a view to starting generating electricity by the end of 2025 and becoming fully operational by 2028.

As this is the largest project of its kind to be carried out in Vietnam, problems in the process of seeking approval and executing may arise, the prime minister said. He asked the investor to closely work with relevant Vietnamese agencies to remove obstacles and accelerate the progress. He also hoped the investors will cooperate with Vietnam in the fields of oil, gas, and wind power equipment manufacturing.

The prime minister asked the group to work with the Ministry of Industry and Trade (MoIT) for the inclusion of this project in the PDP VIII.

Last year, Enterprize Energy received the permission from the government to carry out survey for its 3.4GW wind farm off the coast of Binh Thuan province on an area of 2,000 km2.

RELATED NEWS
TAG: offshore wind power project Enterprize Energy UK investors
Other news
20:33, 2021/33/30
Vietnam - a major driver of global trade growth by 2030
The country benefits from strengthening international integration through multiple free trade agreements.
11:32, 2021/32/27
Significant upgrade of Mekong Delta Transportation infrastructure is slated for 2021-2030
A network of expressways with a combined length of 400 kilometers would be built until 2025, including those of Cantho – Ca Mau, and Soc Trang – Chau Doc – Cantho – Tran De.
16:10, 2021/10/09
Most European business leaders keep investing in Vietnam
Some businesses plan to hire more workers in the next three months.
17:51, 2021/51/04
Vietnam reopens in safe and flexible manner: PM
Vietnam’s consistent investment policies would ensure long-term stability for investors in the future, Prime Minister Pham Minh Chinh has said.
17:31, 2021/31/29
Potential for logistics cooperation between the Netherlands and Vietnam
Many Dutch businesses are looking for investment opportunities in logistics in Vietnam.
18:22, 2021/22/25
It's time to promote underground spaces for Hanoi of the future: experts
The slow pace of transportation area expansion compared to the growing number of vehicles has led to overloaded urban infrastructure, traffic congestion, and air pollution.