Denmark’s Copenhagen Infrastructure Partners (CIP) and Vietnam National Industry – Energy Group (Petrovietnam) signed a joint development agreement (JDA) for one of Vietnam’s first offshore wind projects.
The agreement was signed in Hanoi, with the participation of the Danish Embassy in Vietnam.
The JDA reflects the alignment between Petrovietnam’s offshore expertise, infrastructure, and skilled workforce, and CIP’s global knowledge, advanced technology, and financing capabilities.
It also establishes a foundation for developing a domestic supply chain, creating jobs, and attracting green foreign direct investment.
“This agreement is a significant step forward in our partnership with Petrovietnam and confirms our Growth Markets Fund II’s long-term commitment in Vietnam. By combining CIP’s global experience and expertise in offshore wind with Petrovietnam’s proven offshore expertise and deep understanding of the local market, we are well positioned to deliver one of Vietnam’s first offshore wind projects and to establish the groundwork for future offshore wind projects in Vietnam,” said Robert Helms , Partner at CIP.
The government of Vietnam has committed to an offshore wind development target of 6 GW by 2030 and between 70 GW to 91.5 GW by 2050, as set in the Power Development Plan (PDP8).
CIP, together with local partners, is developing the 3.5 GW La Gan offshore wind farm in Vietnam.
The project, managed by Copenhagen Offshore Partners (COP), is located off the coast of Binh Thuan, Vietnam. The wind farm is planned to be built in a 600-square-kilometre area, situated 12 kilometres to 40 kilometres from shore.
With an expected capacity of 3.5 GW, La Gan is estimated to power more than seven million households.