Vietnam is developing a regulation framework for offshore wind activity as the country has embarked on a roadmap to reduce coal-fired power generation in an effort to achieve net zero carbon emissions by 2050, Xinhua reported, quoting a Vietnam News Agency report on Thursday.

Vietnam has untapped potential in the offshore wind because of the strong winds and relatively shallow waters near populated areas, according to the World Bank, which estimates the industry could generate up to almost 30 per cent of the country’s electricity output by 2050.

The South-East Asian country sets a production target of 7 gigawatts from offshore wind and 16.12 gigawatts from onshore wind by 2030, as it sees wind power as a breakthrough solution to accelerating the adoption of renewable energy and ensuring national energy security, according to the latest draft of the power development plan.

The offshore wind power industry will be the driving force of the growth of related supporting industries and logistics services, said Nguyen Duc Hien, Deputy Head of the Party’s Central Economic Commission, at a seminar on the offshore wind roadmap for Vietnam.

Global investors are looking for investment opportunities in Vietnam to build wind turbine farms, including Denmark’s Copenhagen Infrastructure Partners which has signed a memorandum of understanding with the central province of Binh Thuan to develop a 3.5-gigawatt offshore wind farm.

As of the end of 2021, Vietnam’s total installed capacity of renewable energy reached 20.7 gigawatts, equivalent to more than 27 per cent of the accumulative installed capacity of the electricity system.

The country aims to raise its installed offshore wind power generation capacity to 64.5 gigawatts by 2045.