Market to Watch: Vietnam Offshore Wind
Offshore wind is distinguished from conventional renewable energy sources in many ways, and will be an important driver of the global energy transition in the coming decades. The vast majority of installations to date are concentrated in the European region but countries in East Asia and North America are demonstrating greater interest and ambition in significantly ramping up their deployment of offshore wind in the near future. However, key challenges in government policy need to be urgently resolved in order to develop a supportive system for offshore wind. Recognizing and clearing these obstacles will allow Vietnam to capture the enthusiasm and investment from industry, create local and sustainable economic value, lower its carbon emissions and assume a leading role in the energy transition in South East Asia.