Vietnam always creates conditions for investors to develop wind power

On March 13, Minister of Agriculture and Environment Do Duc Duy welcomed and worked with Mr. Nate Franklin, Chairman of Pacifico Energy Group, U.S. The two sides discussed the potential for cooperation in renewable energy projects to meet Vietnam's increasing energy demand and contribute to the goal of sustainable development and environmental protection.

Talking to Minister Do Duc Duy, Mr. Nate Franklin provided information that Pacifico Energy has started to build renewable energy projects in Vietnam since 2017 and is the first U.S. corporation to deploy renewable energy projects here. After many years of successful operation, the company wishes to continue expanding investment in wind power in Vietnam, especially in Binh Thuan, the area with the strongest and most stable wind potential in Asia.

According to the company's representative, Vietnam has an outstanding advantage in the potential of wind power development thanks to strong wind speed and a long coastline. International investors, including U.S. businesses, are particularly interested in this field with the goal of not only meeting the domestic energy needs but also contributing to minimizing the impact of climate change.

At the meeting, Pacifico Energy Group pledged to support Vietnam in developing offshore wind projects. The Chairman of the Group emphasized that they are ready to conduct surveys and invest in these projects, with resources and experience from previous renewable energy projects.

Responding to the proposal of Pacifico Energy, Minister Do Duc Duy said that the amended Electricity Law and relevant Decrees were adopted to create a clear and transparent legal corridor for investors.

The Ministry of Agriculture and Environment is committed to creating favorable conditions and resolving administrative procedures quickly while ensuring close cooperation between relevant Ministries and branches to implement projects effectively.

In addition, Minister Do Duc Duy also noted with investors that assigning sea areas to investors will comply with the existing legal regulations. Investors must submit complete documents in accordance with the Electricity Law; Decree 58/2025/ND-CP stipulating the contents related to surveying and implementing offshore wind power projects; the Decree amending Decree 11/2021/ND-CP stipulating the contents of the sea area assignment to conduct offshore wind power surveys; legal documents related to the sea area allocation, etc. Besides, the Minister also noted that businesses need to comply with laws related to economic activities at sea as well as defense security.

For the sea area that Pacifico Energy proposed a survey, the Ministry also received 18 proposals from other investors. Therefore, Minister Do Duc Duy said that when there is competition between investors in the same location, the choice will be done fairly and transparently, based on the capacity of the project implementation.

With careful preparation of policies in developing renewable energy, especially offshore wind power, Vietnam is affirming its position as an attractive destination for international investors. At the same time, with the Vietnam-U.S. comprehensive strategic partnership, the Minister expects the cooperation between Vietnam and the U.S. in this field will not only help Vietnam meet domestic energy needs but also contribute positively to the goal of global sustainable development.