$220M offshore wind farm in Vietnam launched as demand for electrical energy is increasing

, $220M offshore wind farm in Vietnam launched as demand for electrical energy is increasing

Vietnam’s leading renewables firm Trung Nam Group has launched its first offshore wind farm amid the Southeast Asian country’s drive for clean energy, Reuters citing a statement from the company on Monday.

According to Reuters, the 5 trillion dong ($220.17 million) farm in the southern province of Tra Vinh has 25 turbines with installed capacity of 100 megawatts, the company said in a statement.

Trung Nam said that, the company would raise the total capacity of its renewable power plants to 3.8 gigawatts (GW) and LNG-to-power plants to 1.5 GW by 2025.

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Vietnam, the Southeast Asian country with more than 98 million people has made exceptional economic progress in recent years. The country has made a significant shift to a market economy and transformed the nation to becoming one of the most dynamic emerging countries in the Southeast Asia region. Along with growing industrialization and economic modernization the demand for electrical energy is increasing.

The Vietnamese government has taken part in discussions with various private sector groups and energy organizations as part of a step-by-step approach for the country’s latest Power Development Plan.

The country is finalizing a master power development plan with a focus on renewables to meet its target to achieve carbon emission neutrality by 2050.

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The country has said it aimed to double its installed wind and solar power generation capacity to 31-38 GW by 2030, Reuters reported.

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