Copenhagen Infrastructure Partners has signed a Joint Development Agreement with Petrovietnam to develop one of Vietnam’s first offshore wind projects, marking a major milestone in the country’s clean energy transition.
Copenhagen Infrastructure Partners (CIP), through its Growth Market Fund II, and Vietnam National Industry – Energy Group (Petrovietnam) have signed a Joint Development Agreement (JDA) to collaborate on the development of an offshore wind project in Vietnam’s south-central region. The JDA was signed at a ceremony in Hanoi on Friday, August 22.
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. The project is expected to unlock long-term economic value, contribute significantly to Vietnam’s energy security and lay the foundation for the development of a robust local supply chain.
CIP is developing the project together with Copenhagen Offshore Partners, CIP’s exclusive offshore wind development partner.
The JDA 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 organisations have coordinated closely and shared knowledge and technical expertise while exploring opportunities for potential joint projects.
Robert Helms, Partner at Copenhagen Infrastructure Partners, said: '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.'
Dr. Le Manh Hung, Vice President and Deputy CEO of Petrovietnam, commented: '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.'
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield energy investments. The funds managed by CIP focus on investments in offshore and onshore wind, storage, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, advanced bioenergy, and Power-to-X.
CIP manages 13 funds and has to date raised approximately EUR 32 billion for investments in energy and associated infrastructure from approximately 180 international institutional investors. CIP has projects in more 30 countries and more than 2300 employees across platforms. For more information, visit www.cip.com
Source: CIP via GlobeNewswire
