Ha Tinh Approves Over 7.8 Trillion VND in Wind Power Projects

Ha Tinh Province in central Vietnam has approved four wind power projects worth over 7.8 trillion VND (approximately $300 million). This initiative aligns with Vietnam's "Sustainable Marine Economic Development Strategy until 2030, with a vision to 2045," which aims to build a green, modern, and innovation-driven marine economy based on science and technology. One of the approved projects involves an investment of over 6.32 trillion VND (about $240 million) by BCG Energy through BCG – Khai Long 1 Wind Power JSC, with a designed capacity of 100 MW. This project is expected to generate approximately 123,780.8 MWh of electricity annually and will be transmitted to the national grid. Vietnam has been accelerating investment in renewable energy, with offshore wind power identified as a strategic sector capable of creating new growth momentum. The country boasts a long coastline and abundant fishing grounds, making marine economic development a key pillar. However, growing fishing pressure and destructive practices have posed significant management challenges, with community-led self-management initiatives now offering effective solutions. The approval of these offshore wind power projects underscores Vietnam's commitment to energy transition and its pursuit of balancing economic growth with environmental protection. This move is part of the nation's long-term development plans under its one-party system, aiming to attract international investment. Diversifying domestic energy sources is also crucial for energy security, particularly in relation to China. Vietnam's economy has experienced robust growth driven by exports in recent years, with strong performance in sectors like wood products and agro-fishery exports. Large-scale investments in renewable energy are expected to bolster the international competitiveness of its manufacturing sector and support a transition towards a more sustainable industrial structure. Information Source: VietnamPlus English