PTSC Calls for Building Complete Offshore Wind Energy Ecosystem: Can Vietnam Create a New Billion-Dollar Industry?
In a significant development for Vietnam's energy transition, PetroVietnam Technical Services Corporation (PTSC) has put forward a vision for the country to develop a comprehensive offshore wind energy ecosystem. The question being posed is whether Vietnam will merely sell electricity from offshore wind farms or become a regional hub for manufacturing, ports, logistics, and technical services that could retain billions of dollars in value domestically.
At the Asia-Pacific Wind Energy Summit 2026, PTSC presented a forward-looking approach to offshore wind development. According to Mr. Le Chien Thang, PTSC's Vice General Director, offshore wind energy cannot develop as isolated projects but must be constructed as a complete industrial ecosystem.
A Vision Beyond Power Generation
PTSC's vision extends beyond simply producing clean electricity to mastering the entire value chain. This includes:
- Fabrication of steel structures and turbine foundations
- Logistics and transportation services
- Specialized port infrastructure
- Offshore installation capabilities
- Long-term operation and maintenance services
"If we focus only on building power plants without developing supporting industries, Vietnam will miss out on most of the added value of the entire chain," stated Mr. Thang.
Why Offshore Wind Energy is Considered a "New Gold Mine"
Offshore wind energy is increasingly viewed globally as a crucial pillar for achieving Net Zero targets and ensuring long-term energy security. The economic potential of Vietnam's offshore wind value chain is substantial:
| Component | Economic Value Created |
|---|---|
| Marine Surveying | High-tech employment |
| Fabrication of foundations | Steel and mechanical industries |
| Specialized port facilities | Logistics and transportation |
| Turbine installation | Technical marine services |
| Power transmission | Energy infrastructure |
| Operation and maintenance | Long-term revenue streams |
| Equipment export | Foreign currency and technology |
PTSC's Strategic Preparations
Over the past five years, PTSC has made significant investments in positioning itself as a key player in Vietnam's offshore wind sector:
- Establishment of offshore wind structure fabrication facilities
- Development of specialized logistics systems
- Enhancement of offshore construction capabilities
- Creation of large-scale industrial centers for wind equipment production
The company has identified two strategic roles:
| Strategic Role | Objective |
|---|---|
| Investor | Direct participation in offshore wind projects |
| Service Provider | Participation across the entire supply chain |
This represents a significant strategic shift for PTSC, transitioning from a traditional oil and gas service company to an integrated energy enterprise.
Current Challenges in Vietnam's Offshore Wind Development
Despite Vietnam's significant offshore wind potential, several obstacles remain:
- Lack of coordination among market participants
- Insufficient port infrastructure
- Incomplete domestic supply chains
These challenges explain why the development of offshore wind energy in Vietnam has been slower than expected, despite the country's extensive coastline and favorable wind conditions.
Lessons from Norway
Ms. Hilde Solbakken, Ambassador of Norway to Vietnam and Laos, shared her country's experience in developing a wind energy sector. Norway followed a systematic approach, developing onshore wind power before expanding to offshore, while always emphasizing the integration of the entire value chain.
| Component | Requirement |
|---|---|
| Wind Power | Integrated development |
| Power Transmission | Effective connections |
| Supply Chain | High domestic content |
| Logistics | Specialized infrastructure |
| Policy | Long-term stability |
Norway's experience offers a valuable model for Vietnam as it develops its offshore wind industry.
Current Status in Vietnam
According to the Ministry of Industry and Trade:
- 12 companies have been assigned offshore sea areas for wind development surveys
- The next 1-2 years will focus on completing mechanisms and policies
- Receiving support from Norway, Denmark, and the Global Wind Energy Council (GWEC)
- Offshore wind energy has been identified as a strategic national industry
Future Outlook
The successful development of a complete industrial ecosystem for offshore wind energy could create tens of thousands of high-tech jobs, promote manufacturing, marine logistics, and energy technical service exports. This would establish Vietnam as a new multi-billion dollar industry, similar to what the oil and gas sector has delivered over several decades.
The critical question now is not whether Vietnam has the potential, but whether it can develop infrastructure, mechanisms, and supply chains quickly enough to capitalize on the impending global boom in offshore wind investment.
As Vietnam stands at this crossroads, the decisions made today will shape the country's energy landscape and economic future for decades to come.