EnergyOMNI's Perspectives I Danish CIP Signs Offshore Wind Joint Development Agreement with Vietnam's PVN

EnergyOMNI's Perspectives I Danish CIP Signs Offshore Wind Joint Development Agreement with Vietnam's PVN
Edited by EnergyOMNI
Danish developer Copenhagen Infrastructure Partners (CIP) announced in August that it had signed a Joint Development Agreement (JDA) with Vietnam's state-owned Petrovietnam (PVN) to develop offshore wind projects in Vietnam.
CIP had previously signed a Memorandum of Understanding (MOU) with PVN in 2024. This collaboration combines PVN's expertise in offshore engineering, infrastructure, and local market knowledge with CIP's global offshore wind development experience, technology, and financing capabilities. CIP noted that through this offshore wind partnership, it aims to enhance Vietnam's energy security while laying the foundation for a local supply chain, job creation, and attracting foreign green investment.
Robert Helms, a partner at CIP, stated, "This agreement is not only an important step in our collaboration with PVN but also reaffirms CIP Growth Markets Fund II's long-term commitment to Vietnam." He added that CIP is capable of executing Vietnam's first offshore wind projects.
Vietnam announced a revised eighth edition of its National Power Development Plan (PDP8) in 2025, targeting 6–17 GW of offshore wind capacity by 2030. Currently, Vietnam only has nearshore wind projects totaling 875 MW (within 6 nautical miles offshore), with no actual offshore wind development. Since 2024, the Vietnamese government has been planning offshore wind pilot projects, with a focus on state-owned companies such as PVN taking the lead.
CIP has repeatedly emphasized that collaboration between state-owned enterprises and experienced international developers is the fastest way to acquire advanced technologies, construction methods, and operational experience. This approach can significantly reduce the risks and costs of pilot projects, ensuring they are completed on time and within budget. Partnering with internationally rated developers also facilitates access to global supply chains, financing, and knowledge transfer to domestic stakeholders. CIP cites its collaboration with Taiwan's state-owned China Steel Corporation (CSC) on a 300 MW Zhong Neng offshore wind project as a successful example.
Neither CIP nor PVN has disclosed the locations, detailed collaboration terms, or execution timelines under the JDA. However, in 2024, Vietnam's Deputy Minister of Industry and Trade, Nguyen Hoang Long, indicated that the pilot project is likely to be located in the southern province of Ba Ría-Vung Tau. PVN's subsidiary, PetroVietnam Technical Services Corporation (PTSC), is currently planning an up to 1.2 GW offshore wind project and has already obtained an exploration license, making it one of the few projects in Vietnam to reach this milestone. Nguyen Hoang Long also previously told the media that construction of the first offshore wind farm is "likely" to start by the end of this year.
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