German firm seeks US$4.6-billion investment in offshore wind power in Binh Dinh

Secretary of the provincial Party Committee Ho Quoc Dung briefed the guest on the socioconomic situation of Binh Dinh as well as its potential and advantages, while highlighting the province’s great attention to the project.

He noted that Binh Dinh considers developing the maritime economy as one of the most important drivers for local economic development. With 134km of coastline, it boasts great potential for developing renewable energy, especially offshore wind power.

PNE, with 25-year experience in wind power development, has great interest in investing in the 2,000MW offshore wind power project, which will be implemented in three phases.

Pedersen said the PNE company is a German pioneer in wind power development. It has expanded its operations to 14 countries in four continents. In Asia, the group has chosen Binh Dinh as the first for offshore wind power development. He added that his firm will promptly implement the project right after receiving investment approval.

Lauding Binh Dinh’s good wind speed and infrastructure conditions, he asked for the province’s support, especially in terms of the legal foundation to ensure smooth operations.

Chairman of the provincial People’s Committee Pham Anh Tuan said he hopes the PNE leader will absolutely support this project to implement it soon, and that the two sides can overcome difficulties together.

Once operational, the project will generate about 7.1 billion kWh of electricity to the national grid each year, contributing to national energy security and about VND1.6 trillion (US$63 million) to the province's annual budget revenue, according to the local leader.