Copenhagen Infrastructure Partners and PetroVietnam Partner in Vietnam

March 8, 2024, by Adnan Memija

Denmark’s Copenhagen Infrastructure Partners (CIP) through its Growth Market Funds, has signed a Memorandum of Understanding (MoU) with Vietnam’s oil, gas, and renewable energy group, PetroVietnam to launch a collaboration on renewable energy and offshore wind.

PetroVietnam CIP — *Source: Copenhagen Infrastructure Partners/LinkedIn*

Under the MoU, the two companies will exchange knowledge and best practices on energy transition issues including technology, supply chain, logistics, infrastructure, and skills development.

This will include support of training programmes in new renewable energy technologies such as Power-to-X (green hydrogen, green ammonia, etc.), battery storage, energy islands, and beyond.

“We look very much forward to the collaboration with PetroVietnam and consider the MoU another important milestone for our presence in Vietnam. CIP is a pioneer in offshore wind, and we look forward to sharing our knowledge, know-how and technological innovations to deliver Vietnam’s first offshore wind projects in a close collaboration of the parties and drive forward the green transition in the country,” said Robert Helms, partner at Copenhagen Infrastructure Partners.

CIP’s offshore wind portfolio currently consists of nearly 60 GW of projects in development, construction, and operations phases spread across North America, Europe, Asia, and Australia.

In Vietnam, the company, together with Asiapetro and Novasia, is developing the La Gan offshore wind farm. With an expected capacity of 3.5 GW, the project aims to be one of the first large-scale offshore wind farms in Vietnam.

The project has a total estimated investment value of USD 10.5 billion and is expected to power more than 7 million households.

In November 2022, CIP inked three MoUs with Vietnamese companies, Xuân Cầu Holdings, PTSC M&C and Semco Maritime, and Pacific Corporation JSC, to accelerate the development of offshore wind projects and the supply chain in the country.