Vietnam Offshore Wind Project Secures Joint Development Agreement with PetroVietnam

August 27, 2025 – Copenhagen, Denmark and Hanoi, Vietnam 

At a ceremony in Hanoi on Friday, August 22, Copenhagen Infrastructure Partners (CIP), through its Growth Market Fund II, and Vietnam National Industry – Energy (PetroVietnam – PVN) have signed a Joint Development Agreement (JDA) to collaborate on the development of a first offshore wind project in Vietnam’s south-central region. Copenhagen Offshore Partners (COP), a global leader in offshore wind development through construction and operations, is leading project development activities for the project. COP is the exclusive offshore wind development partner to CIP. 

The project is in the early development phase and is subject to relevant regulatory approvals, which are expected to be streamlined to some extent under the state-owned enterprise First Project approach. This collaboration is expected to deliver one of the country’s first offshore wind initiatives and represents a significant step in Vietnam’s efforts to diversify its energy mix and accelerate its green transition toward a sustainable energy future. Further, the project is expected to unlock long-term economic value, contribute significantly to Vietnam’s energy security and lay the foundation for the development of a robust local supply chain. Vietnam already has a highly capable and advanced local supply chain, which can continue to evolve organically to support the country’s new energy sector. 

The JDA builds on the Memorandum of Understanding signed in March 2024 by both parties and combines COP and CIP’s global offshore wind expertise and strong track record of working in APAC, with PVN’s deep local market knowledge, technical skills, and offshore operational capabilities. Since 2024, working teams across the organisations have engaged in close coordination, sharing knowledge and technical expertise while exploring opportunities for potential joint projects.  

Jesper Krarup Holst, COP Partner and Head of APAC stated, “I am extremely proud of the work that PetroVietnam and our COP and CIP teams have undertaken in maturing this collaboration, supporting the development of regulatory frameworks, and sharing knowledge between the parties.” 

Stuart Livesey, COP Vietnam CEO shared, “The skills held by both parties combine to make a perfect combination to provide the opportunity to deliver Vietnam’s First offshore wind project, which will set the standards for the future of this sector. COP and CIP have worked with PetroVietnam’s subsidiary companies with our Taiwanese projects, and have been impressed with the quality of their work and focus on matching and exceeding international standards. Together COP, CIP and PetroVietnam will be a key part of Vietnam’s green transition delivering this first project and potential future collaborations.” 

 

About Copenhagen Offshore Partners 

Copenhagen Offshore Partners (COP) is a world leader in offshore wind project origination, development, construction, and operations. COP is unlocking the full potential of offshore wind to power the world through the development of a 50+ GW project portfolio from Asia Pacific to Europe and the Americas. An industry pioneer, COP is safely and sustainably delivering projects in new and established markets, such as the recently constructed and advanced stage projects Changfang & Xidao and Zhong Neng in Taiwan, Vineyard Wind 1 in the United States, and Jeonnam 1 in Korea. COP also implements new solutions as a first mover or fast follower to open new opportunities through flexible offtake offerings, partnerships, and supply chain solutions. COP is a proudly independent company owned by its management. Learn more at www.cop.dk