Offshore wind power capacity to reach 36 GW by 2045
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Vietnam’s offshore wind power capacity will increase 36 GW by 2045, according to the latest draft of the Power Development Master Plan VIII.
It will increase to 4 GW by 2030, 10 GW by 2035, 23 GW by 2040. Offshore wind power will account for some 2.6 percent of the total electricity generation capacity in 2030 and 10.8 percent in 2045. Offshore wind power farms will be located mainly in the north and the south of the country.
In the previous draft of the plan, the Ministry of Industry and Trade had set a target of lifting offshore wind power capacity to 2-3 GW, or 1.5-2 percent of the total, by 2030.
At a meeting held to discuss the latest draft Friday, Mathias Hollander, senior manager of the Global Wind Energy Council (GWEC), said Vietnam can have an offshore wind power capacity of 5-10 GW by 2030. The country’s offshore wind power generation has an efficiency of over 50 percent, similar to that of hydroelectricity, he noted.
According to GWEC calculations, Vietnam will have to invest $10-12 billion for the first 4-5 GW of offshore power wind capacity, but the wind is an infinite source, so the country will not have to keep feeding wind power farms as it does with coal or gas-fired plants.
Meanwhile, the unit cost for 1,000 kWh of electricity generated by an offshore wind power farm is around $83, down from $255 in 2010. It is expected to further drop to $58 by 2025.
With a coastline of 3,260 km, low sea levels, and high wind speeds (7-10 meters per second at a height of 100 meters), Vietnam is an emerging offshore wind power magnet in Southeast Asia, experts say.
Questions & Answers
Q.What is the targeted offshore wind power capacity for Vietnam by 2030, according to the latest plan?
What is the targeted offshore wind power capacity for Vietnam by 2030, according to the latest plan?
The latest draft of the Power Development Master Plan VIII targets 4 GW of offshore wind power capacity by 2030. This represents about 2.6 percent of the country's total electricity generation capacity at that time.
Q.How much investment is required for Vietnam's initial offshore wind power capacity?
How much investment is required for Vietnam's initial offshore wind power capacity?
According to calculations by the Global Wind Energy Council, Vietnam will need to invest $10-12 billion for the first 4-5 GW of offshore power wind capacity. This initial outlay is significant.
Q.What are the key geographical advantages Vietnam has for developing offshore wind power?
What are the key geographical advantages Vietnam has for developing offshore wind power?
Vietnam has a long coastline of 3,260 km, low sea levels, and consistently high wind speeds, ranging from 7-10 meters per second at a height of 100 meters. These factors make it an attractive location.
Q.How has the unit cost of offshore wind power changed over recent years?
How has the unit cost of offshore wind power changed over recent years?
The unit cost for 1,000 kWh of electricity from an offshore wind farm was around $255 in 2010. This has significantly dropped to approximately $83 and is expected to fall further to $58 by 2025.
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