Germany's PNE AG is seeking approval from the Vietnamese government to develop a $4.6 billion offshore wind farm in the country, according to local authorities. If granted a license, the 2,000-megawatt wind farm would be located in Binh Dinh province, central Vietnam, as stated by the province's Department of Planning and Investment.
Vietnam is focusing on expanding its renewable energy capacity, with a goal to achieve 6 gigawatts of offshore wind capacity by 2030. However, regulatory challenges pose risks to meeting this target.
PNE CEO Per Hornung Pedersen visited Binh Dinh province on Tuesday to discuss the project's progress with local officials. PNE has been pursuing the development since 2019. The company was also part of a German business delegation that accompanied the country's president on a visit to Vietnam in January.
A senior official from Binh Dinh province, who requested anonymity, said the final decision on the project will be made by Vietnam's central government. PNE has not yet responded to inquiries regarding the proposal.
Vietnam's wind and solar sectors are crucial to the country's energy transition, but delays in regulatory approvals may slow down progress in achieving the nation's renewable energy goals.
