Vietnam in contention to be top wind power market

As Asia-Pacific accelerates its energy transition, offshore wind could be taking on a wider role. Alessandro Antonioli, country representative of Copenhagen Infrastructure Partners in Vietnam, talked with VIR’s Nha Phuong about Vietnam's position in the regional market and the conditions needed to unlock its potential.

- Nha Phuong

Where does Vietnam stand today on the regional offshore wind (OSW) map, and what competitive advantages could position the country as a leading market in the years ahead?

Vietnam continues to stand out as one of the most promising long-term OSW markets in Asia-Pacific. The country combines strong natural resources, growing power demand, and significant industrial potential, which together could position it as a leading market in the coming decades.

Vietnam benefits from excellent OSW conditions, including strong and stable wind speeds, a long coastline, and relatively shallow waters suitable for large-scale fixed-bottom projects, which are more cost-efficient than floating solutions.

Another strength is robust domestic demand. Vietnam’s economy is growing rapidly, driving the need for reliable, affordable, and sustainable electricity. At the same time, global manufacturing supply chains are increasingly shifting to Vietnam, with many international companies seeking access to green energy to meet their decarbonisation commitments.

Importantly, Vietnam also has an experienced offshore industrial base, which is often underestimated. Companies such as PTSC have developed strong capabilities through decades of offshore oil and gas activity. This gives Vietnam a clear advantage over markets that must build offshore expertise from scratch.

Investors have become far more selective in recent years. What differentiates countries that successfully attract long-term investment from those that struggle to move projects from ambition to execution?