The leaders of Binh Dinh province held a working meeting on October 22 with PNE to promote the offshore wind (OSW) farm project in the locality.

PNE CEO Per Hornung Pedersen said the group has developed OSW projects in 14 countries across four continents. Vietnam is the group's first destination in Asia, with Binh Dinh the first province, where it is investing.

"The OSW farm project in Binh Dinh is a priority and a key project for the group. The province meets all the infrastructure requirements, especially wind speed, for implementation," Pedersen said.

With a coastline of 134km, Binh Dinh is considered a favourable location for OSW development. However, the project faces hurdles due to a lack of a legal framework and special mechanisms.

At the meeting, PNE expressed its determination to pursue the project. The plan is to install the capacity in three phases, each worth more than $1.5 billion.

Once put into operation, the project will provide about 7.1 billion kWh of electricity to the national grid each year, contributing to ensuring national energy security and electricity supply for local and regional economic development.

PNE has been working on the Hon Trau OSW farm project since 2019. The group is prepared to implement the project as soon as it receives the investment policy.