Vietnam is working towards the targets set in the revised Power Development Plan VIII of 6,000 MW of installed capacity by 2030 and 17,000 MW by 2035.

Norway’s experience offers lessons for Vietnam

With a long coastline, abundant offshore wind resources and a well-developed oil and gas industry, Norway is one of four member countries of the European Free Trade Association (EFTA) with extensive expertise in developing the entire offshore wind value chain, from wind farms and power transmission systems to supply chains and support services.

At the Asia-Pacific Wind Energy Summit 2026 in June, Jon Dugstad, offshore wind director at NORWEP, an organisation representing more than 350 Norwegian energy companies with expertise spanning the entire offshore wind value chain, also noted that Vietnam has developed a substantial offshore industrial base through its oil and gas industry.

According to Dugstad, Vietnamese companies, particularly Petrovietnam Technical Services Corporation (PTSC), a subsidiary of Petrovietnam, have in recent years gradually deepened their participation in the international offshore wind supply chain through the fabrication of foundations and offshore substations, as well as the provision of specialised technical services.

Meanwhile, some Norwegian companies are supplying technologies for offshore substations, an area in which PTSC and its Danish partner Semco are developing projects in Vietnam. Norwegian businesses can also support projects involving subsea cable systems, offshore structures and other specialised engineering solutions.

The goal of Norwegian companies is not only to seek business cooperation opportunities, but also to accompany Vietnam in developing a safe, efficient and sustainable offshore wind industry, Dugstad stressed.

Vietnam calls on Norway to invest in renewable energy

Norwegian Ambassador to Vietnam Stein Iversen said that, alongside maritime affairs and aquaculture, renewable energy is also attracting considerable interest from Norwegian businesses. A delegation of six Norwegian companies had recently visited Vietnam to explore opportunities in the sector.

At a meeting with Astrid Bergmål, State Secretary at Norway’s Ministry of Foreign Affairs on October 18, Deputy Minister of Industry and Trade Luong Hoang Thai called on Norway to encourage its investment fund Norfund and Norwegian businesses to increase investment in renewable energy, offshore wind power, energy storage batteries and smart grids. He also urged the early concretisation of Norway’s commitment provide up to 250 million USD in investment via Norfund, through projects under the Just Energy Transition Partnership (JETP).

At the corporate level, Petrovietnam is stepping up cooperation with countries experienced in developing offshore wind supply chains, including Norway.

Norway is currently among the countries with extensive experience in offshore wind development, underpinned by its long-established offshore oil and gas industry, integrated offshore industrial supply chains, and strong research and high-quality workforce training capabilities.

These strengths offer numerous opportunities for cooperation with Petrovietnam in areas such as project development models, risk-sharing mechanisms, marine surveys, geological and geotechnical assessments, offshore engineering, construction and installation, port infrastructure, logistics and human resource training.

With its long coastline, abundant wind resources and commitment to achieving net-zero emissions by 2050, Vietnam is considered one of the most promising offshore wind markets in the Asia-Pacific region.

According to the World Bank, Vietnam has an estimated 600 GW of technical offshore wind potential, one of the highest levels in the Asia-Pacific region. Meanwhile, research by the Institute of Meteorology, Hydrology, Environment and Marine Sciences under the Ministry of Agriculture and Environment puts the country’s exploitable offshore wind potential at around 900 GW.

Globally, Vietnam ranks among the five to six countries with the most favourable wind conditions, the 10 countries with the greatest offshore wind potential, and the top 20 countries in terms of overall wind power development potential.

Therefore, stronger international cooperation and the sharing of experience will play an important role in supporting the future development of Vietnam’s offshore wind industry./.