Australia's Corio seeks larger offshore wind energy opportunities in Vietnam

Corio Generation, an offshore wind energy branch of Australia’s Macquarie's Green Investment Group, wants to make larger inroads into Vietnam via cooperation with state-run Petrovietnam.

Corio Generation CEO Jonathan Cole met with Petrovietnam chairman Hoang Quoc Vuong late last week in Hanoi, discussing cooperation opportunities to serve communities and businesses in a sustainable and reliable way.

Vuong informed Cole about the experiences of the Vietnamese oil and gas giant and its subsidiaries like Petrovietnam Technical Services Corp. and Vietsovpetro in developing offshore wind projects.

This June, Corio executives met with authorities of Hai Phong City to propose a 1,000 megawatt offshore wind farm in the northern city with a total investment of up to $2-3 billion.

Just one day before the business meeting in Hai Phong, Corio signed a joint development agreement with FECON, a leading Vietnamese construction and infrastructure corporation, for a proposed 500 MW offshore wind farm in Ba Ria-Vung Tau province in the south.

If approved, the planned wind farm - located 23-35 km from the coast - could be among the first large-scale offshore wind projects to be built in Vietnam, which is seeking to reduce carbon emissions in its energy transition towards a net-zero goal by 2050.

Corio has one of the world’s largest offshore wind development portfolios, at over 20 GW. The firm has considerable experience in developing offshore wind, with projects in development in Europe, the Americas and Asia-Pacific, including Taiwan, South Korea, Japan, and Australia.