The world's leading offshore wind power Group officially come to Vietnam

Under the witness of Vietnam National Assembly Chairman Vuong Dinh Hue, T&T and Orsted Group officially signed MoU on the strategic cooperation in the offshore wind power in Vietnam.

This strategic cooperation promises a large renewable energy (RE)supply through the new investment offshore wind power projects in Binh Thuan and Ninh Thuan provinces, with a total installed capacity of nearly 10 GW and a total investment of about 30 billion USD (with an expectation to be invested in 20 years).

With more than 3,200 km of coastline and stable high wind speed, Vietnam has good conditions for offshore wind power development. According to the assessment of the World Bank, Vietnam has an offshore wind power potential of about 500 GW and electricity demand with a rapid and reliable growth rate. These factors have convinced T&T and Orsted Group that the offshore wind power projects should play an important role in the electricity mix in the future of Vietnam

Mr. Do Quang Hien, Chairman and General Director of T&T Group shared: “From 10 years ago, we started to study and prepare the conditions for d have embarked on research and prepared the conditions for taking the opportunity on renewable energy development. Today, besides the large solar and wind power projects that should be completed soon, T&T Group has still planed the strategies for developing RE, LNG power centers, LNG ports and storehouses suitable with the National Energy Development Planning to 2030 and 2045.

In 2020 T&Tgroup put into operation 4 solar power projects with a total capacity of 245 MWp, in 2021, T&T expects to put into operation 5 wind power projects with a total capacity of 530 MW. It is planned, in the coming 10 years, T&T expects to develop RE and LNG power projects with a total capacity of 10,000-11,000 MW equal to 8% of the total capacity of the whole national power system at that time.

According to Mr. Matthias Bausenwein, President of Ørsted Asia Pacific: “As a global leading offshore wind power Group, Orsted aims to achieve 30 GW of offshore wind by 2030. To achieve the ambition plan, Orsted needs close cooperation with the partners such as T&T Group - an enterprise with impressive achievements in developing large energy projects in Vietnam and helps Orsted deeply understand the market in Vietnam”

Mr. Sebastian Hald Buhl, Country Director of Ørsted Vietnam, said: “This MoU is an important step forward for Orsted to establish a firm position in Vietnam and demonstrate our aspiration to become a long-term and reliable partner in Vietnam. We are very grad with T&T to make Vietnam become an offshore wind power market in Asia-Pacific Region.

The main headquarter of Orsted Group is in Denmark and the Danish Government owns a controlling stake inf this group.

Orsted has 6,000 employees and developed 28 offshore wind power projects with a total capacity of 7.6 GW and is developing 2.3 GW. The target of Orsted is to develop 30 GW of offshore wind power projects in the world by 2030.

Regarding T&T Group, in 2020 this group put into operation 4 solar power projects with a total capacity of 245 MWp, in 2021, T&T expects to put into operation 5 wind power projects with a total capacity of 530 MW. It is planned, in the coming 10 years, T&T expects to develop RE and LNG power projects with a total capacity of 10,000-11,000 MW equal to 8% of the total capacity of the whole national power system at that time.