Vietnam’s Vingroup, UAE's NMDC to collaborate in offshore wind power
Vietnam’s leading conglomerate Vingroup and the UAE-based NMDC Group will collaborate in offshore wind power, the latter said in a recent filing sent to the Abu Dhabi Securities Exchange (ADX).
The two sides signed a memorandum of understanding (MoU) for the move on October 28, NMDC said. The signing was part of the Vietnam-UAE Business Forum, on the sidelines of Vietnamese Prime Minister Pham Minh Chinh’s official visit to the UAE.
Executives of Vingroup and NMDC sign an MoU in Dubai, the UAE, October 28, 2024. Photo courtesy of Vingroup.
NMDC Group, a global leader in marine and coastal development, will explore collaboration in some areas, focusing on large environmental sustainability projects.
In addition to offshore wind power, they will cooperate in reclamation for coastal land and urban expansion, sustainable coastal protection for high-end real estate, and industrial land reclamation.
NMDC Group will deploy its advanced marine engineering solutions to ensure a positive and sustainable environmental impact and long-term coastal resilience, the firm added.
Besides, at the event, Vingroup signed three MoUs with other UAE partners.
Vietnam currently has no offshore wind projects under construction or operational, while it aims to develop 6 GW of offshore wind by 2030 under a national plan adopted in May 2023.
The Global Wind Energy Council (GWEC) said in August that Vietnam has not initiated any true offshore wind projects and has only developed intertidal wind projects situated in close proximity to the shore; thus the target of installing 6 GW of offshore wind capacity by 2030 presents considerable challenges.
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