Vietnam wind power prospects bring in Danish investors

By Duc Minh October 23, 2022 | 08:02 pm PT

Wind turbines are seen at Quang Tru Province on October 4, 2021. Photo by VnExpress/Hoang Tao

More than half of the 35 Danish business executives accompanying Crown Prince Frederik during his official visit to Vietnam on November 1-2 are in the wind power industry.

They include officials from Orsted Vietnam Llc, a subsidiary of the largest offshore wind power company in the world, and Vesta Mind Systems and Force Technology.

There will also be representatives of three investment funds: the Danish government’s IFU, Copenhagen Infrastructure Partners and EKF.

Denmark is one of five biggest foreign investors in Vietnam with US$1.32 billion.

Analysts point out that Vietnam’s commitment to reducing net emissions to zero is attracting more Danish companies.

Vietnam is among the top 10 countries globally in solar power production, and renewables now account for over 11% of its electricity output.

Vietnam-Denmark’s total trade was at over $554 million in the first nine months, as Vietnam’s exports jumped by 51.8% year-on-year to $384.7 million.