Denmark's CIP Signs Offshore Wind Agreement with Vietnam

Copenhagen Infrastructure Partners (CIP) has signed a joint development agreement with PetroVietnam to co-develop one of Vietnam's first offshore wind projects, supported by CIP's Growth Market Fund II and developed alongside Copenhagen Offshore Partners. This collaboration combines CIP’s global offshore wind expertise with PetroVietnam’s local offshore experience and infrastructure, aiming to enhance Vietnam’s energy security and establish a robust local supply chain. The project aligns with Vietnam’s ambitious renewable energy goals outlined in its Power Development Plan VIII, which targets 6,000 MW of offshore wind capacity by 2030 and up to 139,000 MW by 2050. PetroVietnam leadership emphasized the partnership’s role in accelerating Vietnam’s transition to net zero by 2050, creating jobs, attracting green investment, and positioning the country as a regional clean energy hub. The agreement was marked by strong support from Danish officials and is seen as a crucial step from strategic planning to concrete development in Vietnam’s offshore wind sector. This initiative reflects Vietnam’s significant potential given its long coastline and favorable wind conditions, and CIP’s position as a leading global renewable energy investor.