Doosan Enerbility Vietnam (Doosan Vina) and Marubeni Corporation have signed a Memorandum of Understanding (MoU) to jointly study and explore the feasibility and viability of collaborating on offshore wind power projects in Vietnam. The signing ceremony took place at Doosan Vina’s $300 million, 100-hectare industrial complex located in the central province of Quang Ngai. This facility specializes in building container cranes, desalination equipment, steel structures, steam boilers, heaters, and piping for power plants. As part of its expansion into renewable energy, Doosan Vina plans to produce monopiles and other components essential for offshore wind farms.
Marubeni will also explore opportunities to collaborate with other local Vietnamese manufacturing companies, aiming to contribute significantly to the growth and development of Vietnam’s offshore wind power industry. This partnership aligns with Vietnam’s ambitious targets for renewable energy, particularly offshore wind power, which is expected to play a crucial role in the country’s energy mix and economic development.
Doosan Vina’s general director, Kim Hyo Tae, emphasized the company’s commitment to supporting the Vietnamese government’s goal of achieving net-zero emissions by 2050. Vietnam has set a target of generating 6 GW of offshore wind power by 2030, which would account for 4% of the country’s total electricity generation capacity. Looking further ahead, the government aims to increase this capacity to between 70 GW and 91.5 GW by 2050.
In 2021, Vietnam’s energy mix consisted largely of domestic energy sources, with coal making up 43.5%, biofuels and waste 15.8%, crude oil 15.4%, natural gas 10.1%, and hydro 10.9%, while wind and solar combined contributed only 10.8%, according to the International Energy Agency (IEA). The partnership between Doosan Vina and Marubeni is poised to help shift this balance towards more sustainable energy sources.
Partnership to Boost Vietnam’s Offshore Wind Industry and Economic Growth
Doosan and Marubeni have a history of collaboration on energy projects across the Asia-Pacific region, including the Nghi Son 2 thermal power plant in Vietnam. This new venture into offshore wind power is expected to leverage their combined expertise and resources, positioning them at the forefront of Vietnam’s renewable energy sector.
In late 2022, Marubeni Corporation’s president and CEO, Masumi Kakinoki, reaffirmed the company’s commitment to investing billions of dollars in Vietnam, covering sectors such as infrastructure and energy. This commitment was communicated during a meeting with Vietnam’s Prime Minister, Phạm Minh Chính, highlighting Marubeni’s long-term vision for contributing to Vietnam’s economic and infrastructural development.
The MoU signed between Doosan Vina and Marubeni follows a previous agreement between Doosan Vina and Ørsted in 2022. Ørsted, a Danish multinational energy company with a strong presence in wind power, partnered with Doosan Vina to produce monopiles, reinforcing Doosan Vina’s strategic shift towards renewable energy manufacturing.
This new collaboration is set to enhance the capabilities and competitiveness of Vietnam’s offshore wind industry. By producing essential components locally, the partnership aims to reduce dependency on imports, lower production costs, and stimulate local economic growth. Moreover, it is expected to create numerous job opportunities and foster technological innovation within the country.
Vietnam’s commitment to increasing its offshore wind capacity is part of a broader strategy to diversify its energy sources and reduce its carbon footprint. The collaboration between Doosan Vina and Marubeni is a significant step towards realizing this vision, potentially setting a benchmark for future international partnerships in the renewable energy sector.
The success of this partnership could serve as a model for other countries in the region looking to develop their renewable energy industries. It underscores the importance of international cooperation and the sharing of technology and expertise in addressing global energy challenges and achieving sustainability goals.
The joint exploration by Doosan Vina and Marubeni into the feasibility and viability of offshore wind power projects in Vietnam represents a critical development in the country’s renewable energy landscape. This collaboration is expected to bolster Vietnam’s efforts to meet its renewable energy targets, support economic growth, and contribute to global decarbonization efforts.
