CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Copenhagen Infrastructure Partners (CIP) has signed a joint development agreement with Petrovietnam to collaborate on the development of an offshore wind project in Vietnam’s south-central region.

The project - in early development phase and subject to relevant regulatory approvals - is expected to be among Vietnam’s first offshore wind initiatives and represents a significant step in the country’s efforts to diversify its energy mix and accelerate its green transition toward a sustainable energy future.

CIP is developing the project together with Copenhagen Offshore Partners, CIP’s exclusive offshore wind development partner.

The joint development agreement builds on the memorandum of understanding signed in March 2024 by both parties and combines CIP’s global offshore wind expertise with Petrovietnam’s deep local market knowledge and offshore operational capabilities.

Since 2024, working teams from both organizations have coordinated closely and shared knowledge and technical expertise while exploring opportunities for potential joint projects.

“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 Copenhagen Infrastructure Partners.

“Petrovietnam and CIP have built a meaningful partnership working closely and effectively to reach this important step. The Joint Development Agreement demonstrates our mutual trust, commitment and shared vision in supporting Vietnam’s energy transition. Together we not only aim to develop successful offshore wind projects, but also to build a clean energy value chain in Vietnam,” added Le Manh Hung, Vice President and Deputy CEO of Petrovietnam.