According to data from Irena, an inter-governmental renewable energy organisation, Vietnam's production from solar and wind increased 237 percent and 60 percent, respectively in 2020, raising the share of these sources to a quarter — almost a decade ahead of schedule, it wrote.
With an average speed of more than 10 metres a second, Vietnam's territorial waters rank in the top 10 percent of the windiest places on the planet.
The seas off the provinces of Binh Thuan and Soc Trang where developers plan to build multibillion-dollar offshore wind farms are also relatively shallow, with depths of 20 metres to 50 metres.
The author quoted Thu Vu, an energy finance analyst at the Ohio-based Institute for Energy Economics and Financial Analysis as saying that Vietnam's renewable energy adoption is impressive. The higher cost of offshore units relative to onshore or nearshore wind, the expert noted.
Ian Hatton, Chair of Enterprize Energy, a UK-renewable energy company, said in order to reduce cost, Vietnam must improve its infrastructure, build substations, and lay cables along the seabed for offshore production, or finding alternative solutions. Enterprize is experimenting with converting wind energy and seawater to hydrogen.
He also noted an example of the dilemma facing low- and middle-income nations such as Vietnam. Accordingly, if they produce enough energy to meet demand without improving transmission infrastructure, additional capacity could be squandered.
But William Gaillard, Vice President of wind turbine manufacturer Vestas, believed that Vietnam has "shown a path for others to follow, adding that the combination of an attractive feed-in-tariff with ambitious installation targets and a transparent permitting process has been a critical factor in unlocking this market./.VNA