PTSC and Bà Rịa-Vũng Tàu province forge partnership for offshore renewable energy supply chain

Tuesday, Aug 08, 2023 15:41

At the signing ceremony. — Photo

PetroVietNam Technical Service Corporation (PTSC) and Bà Rịa-Vũng Tàu People’s Committee on Monday signed a memorandum of understanding on the supply chain of production material (steel) for offshore renewable energy projects.

Nguyễn Văn Thọ, Chairman of the provincial People's Committee, underscored the province's steadfast commitment to the burgeoning realm of offshore wind energy, which aligns with the global transition towards sustainable energy sources.

As a prominent player in this field, the provincial leadership anticipates that PTSC will give precedence to local enterprises when selecting participants for the service supply chain in the execution of projects for both domestic and international clients. Notably, Bà Rịa - Vũng Tàu Province houses several significant large-scale steel manufacturing establishments, including those specialising in the production of premium, specialised steel intended for global export.

In May, PTSC signed a major contract with Ørsted Taiwan Ltd to manufacture and supply foundations for their offshore wind farms in Taiwan (China), with estimated steel demand of up to 65,000 tonnes. This landmark deal showcased its capacity to drive production, facilitate exports and lay the groundwork for vital infrastructure within the offshore wind energy domain.

Lê Mạnh Cường, General Director of PTSC, outlined the steel requisites for the upcoming project phases, including 65,000 tonnes valued at approximately US$80 million for the 2023-25 and 137,000 tonnes worth an estimated $165 million for 2024-26. Additionally, PTSC is exploring projects that could potentially necessitate around two million tonnes of steel.

Presently, PTSC is considering the exportation of wind power to Singapore, encompassing an impressive capacity of 2.3GW. The projected steel demand for this endeavour hovers around 350,000 tonnes, translating to an estimated value of $450 million.

To realise this ambitious aspiration, a collaborative chain, in which PTSC plays a pivotal role alongside other provincial businesses, is imperative to transform Bà Rịa-Vũng Tàu into a prominent hub for the execution of renewable energy projects, both regionally and globally. — VNS

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