Prime Minister Pham Minh Chinh has asked senior executives of the UK’s Enterprize Energy Group (UK) and Denmark’s Copenhagen Infrastructure Partners Group to support Vietnam’s ambitious net zero emissions target.
The Sunday meeting in the United Arab Emirates with Ian Hatton, chairman of the Enterprize Energy Group, and Robert Helms, board member of Copenhagen Infrastructure Partners (CIP) resulted in an exchange of experiences in the fields of offshore wind power development and renewable energy.
The prime minister said he greatly appreciated the experience and capabilities of both firms in renewable energy, particularly offshore wind power.
He warmly welcomed their proposal to explore and implement practical projects in line with Vietnam’s development orientation.
Chinh said that following the COP26 conference, Vietnam has focused on 12 main activities in fulfilling its net emission pledges.
He mentioned in particular the adoption of the National Power Development Plan VIII as well as a plan to implement it, which invites the participation of the private sector, particularly experienced and capable international investors.
The prime minister also mentioned an agreement reached with Singapore on exporting green energy to the island nation.
He said corporate projects were generally aligned with the national plan and requested that the two energy giants collaborate closely with the Ministry of Planning and Investment and the Ministry of Industry and Trade as well as state-run PetroVietnam to study and effectively implement investment projects.
Copenhagen Infrastructure Partners is a top offshore wind developer and global fund manager. The group manages 50 GW projects worth $28 billion in important markets like the U.S., UK, and Germany. It also has plans to invest over $110 billion in the renewable energy sector by 2030.
In Vietnam, CIP has established a joint venture company and two representative offices to research and develop offshore wind power projects, including the 3.5 GW La Gan project in Binh Thuan province, with a total investment estimated at $10.5 billion.
At a consultation workshop on Just Energy Transition Partnership (JETP) organized by the Ministry of Natural Resources and Environment in October, Stuart Livesey, Vietnam country director for Copenhagen Offshore Partners (COP), highlighted two challenges facing offshore wind power in Vietnam – rules on site surveys and the power grid.
Besides, the direct power purchase agreement (DPPA) mechanism should be finalized soon to attract more investments, he added.
Enterprize Energy (EE) is a British multi-industry corporation operating in the field of marine natural resource exploitation and energy development, including oil and gas, offshore wind power, onshore wind power, and thermal power.
In Vietnam, EE has cooperated with Societe Generale from France, Vestas from Denmark and ODE from the UK to develop the Thang Long Wind Complex in Binh Thuan province with two component projects – the 3,400 MW, $11.9 billion Thang Long Wind (TLW) project; and the 2000 MW, $5 billion Thang Long Wind 2 (TLW2) project that will produce and export hydrogen energy generated from water electrolysis.
Lan Do
