Offshore wind power developer CIP seeks long-term cooperation with Vietnam

Copenhagen Infrastructure Partners (CIP), a major Danish renewable energy developer, is seeking to reach long-term cooperation with Vietnamese businesses in the offshore wind power sector.

Stuart Livesey, a representative of CIP, made the statement in a recent talk with Vietnamese media.

CIP aims to collaborate with Vietnamese companies to help the country build a strong and independent offshore wind power industry, he elaborated.

Regarding the country’s newly-issued Decree No. 58/2025/ND-CP on renewable and new energy, Livesey highlighted the requirement that foreign investors must contribute a minimum 15% of the project's total investment capital.

Specifically, under the decree, foreign investors must have experience in investing and developing at least one offshore wind power project that is operational in Vietnam or in the world.

“Experience” includes direct investment, contributing a minimum 15% of the project's total investment capital, and the ratio of equity to capital contribution being at least 20%.

This requirement might restrict “inexperienced” investors with minimum capital contribution from participating in projects, he said.

The executive hailed Vietnam’s approach of helping state-owned energy giants Petrovietnam (PVN) and Vietnam Electricity (EVN) to deploy first offshore wind power projects in the country.

However, in the long-term, Vietnam should encourage other investors, not only state-owned enterprises such as EVN and PVN, Livesey added.

He pointed out Vietnam’s strengths of manufacturing offshore wind power equipment.

PTSC and PTSC M&C, two subsidiaries of PVN, are building substation platforms and jackets for offshore wind power facilities. South Korea’s CS Wind is manufacturing wind turbines at its factory in Vietnam.

However, Vietnam has yet to utilize made-in-Vietnam products in the sector, he stressed.

Vietnam currently has no offshore wind power projects. The country targets to add 6,000 MW of offshore wind power to its masterplan by 2030 and put the related projects into operation in 2030-2035, Deputy Minister of Industry and Trade Nguyen Hoang Long said. The target is 113,503-139,097 MW of offshore wind power by 2050, he added.