Russians hold talks with Vietnamese Prime Minister over gigascale offshore wind
Zarubezhneft and partner Petrovietnam carrying out wind measurements ahead of planned project
Russian oil & gas firm Zarubezhneft is seeking to accelerate wind power projects in Vietnam as part of an ongoing cooperation agreement over energy in the Asian nation.
Zarubezhneft and state-run Petrovietnam have worked together on oil and gas projects for over 40-years, but the Russian company also sees Vietnam as a key market for pursuing international ambitions and "competencies" in the field of renewable energy.
Zarubezhneft’s website states that the company is already involved in the development of wind energy in Vietnam by means of a joint venture called Vietsovpetro.
Zarubezhneft states that it is currently developing the Vinh Phong offshore wind farm project in Binh Thuan province with a capacity of 1GW.
The wind farm, which will be located 20km from the coast, has been the focus of wind measurement studies.
Zarubezhneft’s corporate strategy outline ambitions of building a portfolio of alternative energy projects with an installed capacity of more than 300MW by 2025 and at least 1GW by 2030.
Oil and gas nevertheless provided the main talking point during the Kudryashov visit to Hanoi, with both sides talking up joint investments in their respective countries based on "harmonious benefits and shared risks".
A 2019 World Bank study highlighted Vietnam as offering one of the greatest potentials for offshore wind in Southeast Asia, but an underdeveloped policy framework has been blamed for the lack of offshore projects so far.
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