German renewable energy developer PNE has announced that it would be investing $4.6bn in an offshore wind project in Vietnam’s Binh Dinh province. The project has a capacity of 2GW, divided into three phases with each phase resulting in an investment of over $1.5bn. The Binh Dinh province has large offshore wind potential due to its 134 km coastline. When the offshore wind farm is put into operation, it will generate about 7.1bn kWh of electricity each year for the Vietnamese national grid system, contributing to the country’s energy security. The project not only ensures electricity supply for local and regional economic development but also contributes an estimated annual budget revenue of about $63m to the province. Vietnam is developing several offshore wind farms and has some in operation. It has already set an offshore wind target of 6GW by 2030 and between 70GW and 91.5GW by 2050. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsGermany Offshore Wind Vietnam