Implementing the Vietnam offshore wind power project

In Vung Tau city has been held the signing ceremony on comprehensive cooperation between the Singapore Enterprize Energy & RE Global Solution and the associate of PetroVietnam Construction Joint Stock Corporation (PVC) and Vietsovpetro (VSP) to develop an offshore wind power project in Vietnam. The project is located in 30 km from Binh Thuan sea coast and has a capacity of 1200 MW, total investment level of US$ 3.5 billion. The investment of the project will be diverged in two phases as 600 MW in 2018 – 2021 and 600 MW in 2021 – 2023.

The associate PVC – VSP has achieved the agreements with the investors on comprehensive cooperation to manufacture the offshore wind turbines (OWT) with the towers and the offshore tranformer stations (OSS), as well as transport an install all the equipment and building companens of the project.

The sides have agreed to cooperate in all the fields relating to the project such as development, finance, construction, property, operation and mantainance in a series of periods suitable with the plan of using financial resources for manufacturring (in 2019 – 2020), corresponding to the ofshore installing (beginning in 2021).

The signing of this agreement has marked a significant milestone in the cooperation between the parties for the offshore wind project not only in Binh Thuan province but also in regional and international countries.