Denmark’s Copenhagen Infrastructure Partners (CIP), through its CI GMF II Cooperatief UA fund, has signed a Joint Development Agreement with Petrovietnam to advance offshore wind projects in Vietnam. The deal, announced on August 22, follows a renewable energy memorandum signed earlier this year and marks one of the country’s first major steps into offshore wind development.
The initial project will be located in Vietnam’s south central region, combining CIP’s global offshore wind expertise with Petrovietnam’s offshore infrastructure and local market knowledge. According to CIP partner Robert Helms, the collaboration is designed not only to deliver one of Vietnam’s first offshore wind projects but also to lay the groundwork for future large-scale developments.
Petrovietnam Chairman Le Manh Hung highlighted the partnership’s strategic importance in Vietnam’s transition to net zero by 2050. He noted that offshore wind development could accelerate the creation of a domestic supply chain, generate new jobs, and attract foreign investment, positioning Vietnam as a regional hub for renewable energy.
Vietnam’s offshore wind potential is considered among the strongest in Asia, thanks to its long coastline and favorable wind conditions. Under its updated Power Development Plan VIII, the country has set ambitious targets of reaching 6,000 MW of offshore wind capacity by 2030, 17,500 MW by 2035, and up to 139,000 MW by 2050. The agreement between CIP and Petrovietnam is expected to play a pivotal role in achieving these targets while strengthening Vietnam’s role in the global clean energy transition.
(Source: Vietnam Investment Review)
