The seminar attracted the participation of many experts
Speaking at the seminar, Mr. Clive Turton, President of Vestas in Asia and the Pacific, said that Vietnam possessing a long coast, large land area, abundant wind source, has the largest potential for wind power development in ASEAN region. The wind power capacity can be up to 30 GW if it is properly invested. Vietnam has made great efforts in developing wind energy.
Despite the abundant potential, according to many experts, wind energy in Vietnam has not been invested and exploited adequately due to:
- Limited capabilities of investors in developing feasible investment projects accessible to international commercial loans.
- Low feed – in tariff causing great difficulties for investors.
- The requirement of securing reliability when being integrated into the national power grid.
In order to promote investment and development of renewable energy sources, the Prime Minister has promulgated incentive policies and mechanisms such as: reduction of FIT in the standard power purchase agreement for developing biomass, solid waste, solar and wind energy sources. Particularly, the FIT applicable to wind power has been also considered and modified by the Prime Minister accordingly.
At the same time, a series of power development master plans inclusive of renewable energy sources and local wind power development master plans have been approved and announced publicly by Provincial People's Committees and the Ministry of Industry and Trade.
In the roadmap for renewable energy development, the Ministry of Industry and Trade will continue to accomplish the legal framework and propose appropriate policies and mechanisms to motivate the development of renewable energy sources in the new period; strengthening management restructuring and improving the implementation capacity of all levels; studying smart grid technologies, energy storage solutions and predictability, in order to optimize the introduction of renewable energy sources towards a stable, safe and sustainable development.
As one of the world's leading countries in terms of technologies and experiences in wind power development, Denmark will keep supporting Vietnam by transferring technology, improving know-how, providing financial resource through business to business cooperation and research and development collaborations.
Ms. Charlotte Laursen, the Ambassador of Denmark to Vietnam, said that Vietnam and Denmark have cooperated in the field of energy. Denmark will maintain to support Vietnam in achieving its greener future, strengthening the Vietnam -Denmark relationship in the energy sector.
At the seminar, participants discussed strategies to mitigate risks and increase profits; financial solutions for wind power business, etc.