Copenhagen Infrastructure Partners (CIP), on behalf of New Market Fund I, Asiapetro, Novasia Energy and Binh Thuan Provincial People's Committee (PPC) have signed a Memorandum of Understanding (MOU) on developing La Gan offshore wind power project with a total capacity of up to 3.5 GW. The signing ceremony took place at Vietnam 2020 High-Level Forum in Hanoi on July 22nd, 2020. 

As the world's leading investor and developer of offshore wind power projects, Copenhagen Infrastructure Partners has mobilized more than US$ 10 billion from the funds investing in renewable energy projects, including the latest CI IV fund expected to become the largest fund for the renewable energy projects in the world. With the New Market I Fund, CIP especially focuses on the new fast growing economies as Vietnam market at present.

With a potential capacity up to 3.5 GW, La Gan off-shore wind power project will bring opportunity for Vietnam to access the most modern and advanced wind power technology, while also supporting Vietnam to transform into a country with the power system with a high integration of renewable energy and low carbon emissions.

According to Mr. Michael Hannibal a CIP’s founder member: Signing the MOU on developing La Gan off-shore wind power project between CIP, Asiapetro, Novasia Energy and Binh Thuan PPC is a very important milestone and shows a valuable support and close cooperation from local authorities and partners. With an estimated total investment up to US$ 10 billion, the project is expected to generate significant sources of income and jobs for both Binh Thuan province and Vietnam. The successful cooperation between CIP, Asiapetro, Novasia Energy and Binh Thuan province in this project may also be a premise to attract other foreign investors to offshore wind projects in Vietnam.
*Source: Nangluongvietnam.vn