CIP signs MoU with Petrovietnam

Danish renewables investor Copenhagen Infrastructure Partners (CIP) has signed a memorandum of understanding (MoU) with Vietnam’s state-owned oil company Petrovietnam.

Under the terms of the agreement, CIP and Petrovietnam will collaborate on renewables and offshore wind development in the country, which still relies on fossil fuels to meet most of its growing energy demand.

The agreement covers the exchange of technology, supply chains, logistics, infrastructure, skills and more. CIP added that both companies will now “explore opportunities to collaborate on developing specific offshore wind projects in Vietnam”.

CIP is already in the early stages of developing the 3.5GW La Gan offshore wind farm off Binh Thuan on Vietnam’s south-east coast. It co-owns the project alongside Vietnamese oil company Petroasia and renewables developer Novasia.

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