Equinor cancels plans for Vietnam offshore wind investments amid regulatory delays

Norway’s state-controlled energy giant, Equinor, has cancelled its plans to invest in Vietnam’s offshore wind sector, marking a setback for the country’s green energy ambitions. Vietnam has attracted international interest due to its strong winds in shallow waters near coastal, densely populated areas. However, delays in regulatory reforms have led some potential investors to reconsider their plans.

“We have decided to discontinue our business development in Vietnam and to close our office in Hanoi,” an Equinor spokesperson told Reuters. This decision marks the first time Equinor has closed an international office dedicated to offshore wind development.

Equinor has been transitioning away from traditional oil and gas activities, having exited more than a dozen countries in recent years to focus on renewable energy and low-carbon technologies.