Investment in renewable energy is in line with Vietnam’s policy on developing alternative energy sources to ensure energy security and protect the environment, Monsted said at a workshop in Ho Chi Minh City on December 5.

With its experience and expertise in the field, Denmark wants to share new technologies with Vietnam, he affirmed.

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Pham Trong Thuc, a representative of the Vietnamese Ministry of Industry and Trade, said the Government of Vietnam has encouraged capable international enterprises to invest in wind power, thus transferring their technologies to local producers, adding that numerous incentives will be offered to them.

The workshop is an opportunity to introduce the country’s wind power potentials and incentives for investors in the field, Thuc said.

Vietnam’s wind power potentials have not been fully tapped, particularly in the central region. There are only four operating projects, with a combined capacity of over 159 MW.

The price of wind power in Vietnam remains low, but this is not the biggest concern for investors, said Nguyen Viet Dung, Director of the Vestas Vietnam Company.

Dung said wind resources are crucial to the success of a wind power project, adding that with high wind reserves, wind power projects in Vietnam are really attractive to investors.

He also emphasized competition in the sector, saying that investors have to use advanced technologies to ensure their projects are effective.

Source: VNA