Australia’s Corio Generation plans offshore wind energy projects in Vietnam
Corio Generation, an offshore wind energy branch of Australia’s Macquarie's Green Investment Group, plans to make infrastructure investments in Vietnam, said its Asia-Pacific (APAC) head Yi-Hua Lu.
The executive revealed the plans in a Friday meeting with Vietnamese Prime Minister Pham Minh Chinh during the latter’s Australia visit. He also mentioned challenges in project implementation and made proposals on deploying offshore wind power projects.
Prime Minister Pham Minh Chinh (right) and Yi-Hua Lu, head of APAC at Corio Generation, meet in Australia, March 8, 2024. Photo courtesy of the government's news portal.
Prime Minister Chinh asked Corio Generation to build detailed project proposals and submit them to relevant Vietnamese authorities. He also asked Deputy Prime Minister Tran Hong Ha to directly process Corio Generation’s proposals.
Urging Corio Generation to cooperate with relevant Vietnamese partners, Chinh said a key factor was that wind power prices should benefit all sides.
He also suggested that the Australian firm expand its partner list in Vietnam, including state-owned Petrovietnam and Vietnam Electricity (EVN).
Chinh said Vietnam was not only looking for Corio Generation to make investments but also carry out technology transfers.
The Vietnamese government, ministries, and relevant authorities are committed to facilitating investors and ensuring their legitimate rights and benefits towards win-win outcomes and sharing of burdens, Chinh affirmed.
Under the National Power Development Plan VIII (PDP VIII) approved last May, Vietnam aims to generate at least 6,000 MW of offshore wind power by 2030, depending on technology developments, electricity prices and transmission costs.
However, no project has been approved or assigned to an investor so far despite strong interest shown by several foreign firms.
Corio Generation is studying the development of three offshore wind power projects in Vietnam with a total capacity of 4.5 GW. These are located in the central province of Binh Thuan, the northern city of Hai Phong, and the southern province of Ba Ria-Vung Tau.
On Tuesday, at the Australia-Vietnam business forum in Melbourne, EVNGENCO 3, a subsidiary of EVN, and Corio Generation signed a memorandum of understanding on offshore wind power development in Vietnam.
- Related News
- Read More
Vietnam's top dairy producer Vinamilk posts Q1 profit of nearly $93 mln
Vinamilk (HoSE: VNM) reported a net profit of nearly VND2.46 trillion ($93.26 million) in the first quarter of 2026, up 55% from the same period last year, as the dairy producer met about a quarter of its full-year target after three months.
Companies - Sat, May 2, 2026 | 3:26 pm GMT+7
Vietnamese PM hosts welcome ceremony for Japanese counterpart
Prime Minister Le Minh Hung on Saturday morning hosted an official welcome ceremony for Japanese Prime Minister Takaichi Sanae, who is on a three-day official visit to Vietnam.
Politics - Sat, May 2, 2026 | 12:37 pm GMT+7
PV Oil completes 81% of full-year profit target in Q1
PV Oil, a subsidiary of state-owned Petrovietnam, reported a sharp surge in first-quarter earnings, achieving 81% of its full-year profit target within the first three months of 2026, driven largely by favorable inventory dynamics.
Companies - Sat, May 2, 2026 | 8:17 am GMT+7
Major players eye Vietnam’s wastewater treatment market
Vietnam’s wastewater treatment sector is entering a transition phase as a growing number of large corporations signal plans to enter or expand investments, driven by rising environmental infrastructure demand and expectations of clearer wastewater pricing mechanisms.
Companies - Sat, May 2, 2026 | 8:00 am GMT+7
Work on $92 mln eco-urban resort project starts in northern Vietnam tourist hotspot
A consortium of Hong Phong ID Co. Ltd. and Ecopark Hai Duong JSC has broken ground on a VND2.42 trillion ($91.97 million) eco-urban tourism project in Vietnam's northern border province of Lao Cai.
Real Estate - Fri, May 1, 2026 | 9:08 pm GMT+7
Royal Shore Beachclub announces grand opening in Hoi An
Royal Capital Group on Thursday announced the grand opening of its newest beachfront destination, set along the pristine coastline of Hoi An.
Travel - Fri, May 1, 2026 | 6:48 pm GMT+7
Novaland posts Q1 profit of $33 mln, shares hit three-year high
Novaland (HoSE: NVL) reported a strong turnaround in the first quarter of 2026, swinging to a net profit of VND860 billion ($32.63 million) from a loss a year earlier, as revenue doubled on increased property handovers.
Companies - Fri, May 1, 2026 | 3:09 pm GMT+7
Vinaconex, Vietjet have new CEOs
Vietnamese construction heavyweight Vinaconex on Wednesday appointed deputy CEO Pham Thai Duong as CEO and legal representative, replacing Nguyen Xuan Dong.
Companies - Fri, May 1, 2026 | 2:41 pm GMT+7
Japanese retailer Aeon Mall to build another shopping center in northern Vietnam
Japan’s Aeon Mall is set to invest nearly $150 million in a shopping mall project in the northern province of Bac Ninh, marking a further push into Vietnam’s fast-growing industrial localities.
Industries - Fri, May 1, 2026 | 10:59 am GMT+7
Hyosung Vina raises $7.6 mln in unsecured bond sale
Hyosung Vina Chemicals, the Vietnam arm of South Korean chaebol Hyosung, has completed a VND200 billion ($7.59 million) domestic bond issuance, according to disclosures on the Hanoi Stock Exchange.
Companies - Fri, May 1, 2026 | 10:16 am GMT+7
Vietnam central bank to add new metrics to oversee banking activity
The State Bank of Vietnam is proposing a set of new prudential metrics to strengthen oversight of banking operations, replacing the traditional loan-to-deposit ratio (LDR) with a broader framework aligned with Basel III standards.
Banking - Fri, May 1, 2026 | 8:00 am GMT+7
From national reunification to aspiration for an integrated development space
In 1975, Vietnam united the country through determination and a shared aspiration for independence. Today, in a very different context, the country faces a new challenge: unifying its market through institutional reform, writes Dr. Nguyen Sy Dung, former deputy head of the Office of the National Assembly - the country's legislature.
Economy - Thu, April 30, 2026 | 10:27 pm GMT+7
Vietjet seeks deeper engagement in Vietnam's aviation infrastructure development
Vietjet, Vietnam’s first private airline, has proposed earlier and broader participation in Vietnam’s airport planning and infrastructure development, as the budget carrier looks to expand its role beyond flight operations into ground services and logistics.
Companies - Thu, April 30, 2026 | 9:42 pm GMT+7
Vietnamese giants kick off 4 mega projects in HCMC
The Ho Chi Minh City People’s Committee on Wednesday held a groundbreaking ceremony for four large-scale projects invested by Vietnamese conglomerates including Vingroup, Sun Group and Truong Hai Group (Thaco).
Economy - Thu, April 30, 2026 | 8:01 pm GMT+7
Vingroup starts work on $2.2 bln int'l university township in southern Vietnam
Vietnam’s conglomerate Vingroup (HoSE: VIC) on Wednesday broke ground on a VND59 trillion ($2.24 billion) international university township in Ho Chi Minh City.
Real Estate - Thu, April 30, 2026 | 12:38 pm GMT+7
Chinese firm Livzon secures control of Vietnam’s pharma giant Imexpharm in $228 mln deal
Lian SGP Holding Pte. Ltd., a Singapore-based entity wholly owned by China’s Livzon Pharmaceutical Group Inc., has acquired a controlling stake in Vietnam’s pharma giant Imexpharm (HoSE: IMP) following a public tender offer.
Companies - Thu, April 30, 2026 | 12:22 pm GMT+7
