Copenhagen Infrastructure Partners (CIP), a Danish investment firm, and Petrovietnam have signed a Joint Development Agreement Implementation Deed for the Nam Trung Bo 1 offshore wind project in Vietnam. The project has an estimated cost of more than $4bn. According to CIP, the agreement is part of its partnership with Petrovietnam to develop the project.

Signing during a state visit to Denmark

CIP said the deed was presented during an official memorandum of understanding (MoU) ceremony at the Denmark-Vietnam Business Forum, attended by Vietnam's General Secretary Tô Lâm and Denmark's King Frederik X. Robert Helms, a CIP partner, presented the agreement alongside Petrovietnam representatives during Tô Lâm's state visit to Denmark. He also took part in discussions on Vietnam's energy transition at the forum, hosted by Danish Industry (DI). In offshore wind, other projects are moving forward elsewhere: Northland completed the installation of all 73 Hai Long turbines in Taiwan, while DEME won the contract to install 69 turbines at the Zeevonk offshore wind farm in the Netherlands.

Earlier in the visit, CIP representative Torsten Lodberg Smed attended a CEO roundtable and a state banquet hosted by King Frederik X. The roundtable brought together Danish companies with long-term ambitions in Vietnam. They discussed investment, growth and the conditions needed to accelerate economic cooperation.

CIP's stated ambitions

Participants included Tô Lâm, senior Vietnamese ministers and officials, King Frederik X, Danish Foreign Minister Lars Løkke Rasmussen and DI chief executive Lars Sandahl Sørensen. CIP said Vietnam offers significant potential for large-scale energy infrastructure investment. The group highlighted its long-term commitment to the market.

The company said it aims to support Vietnam's energy transition, energy security and industrial development through its partnership with Petrovietnam. Nam Trung Bo 1 has an estimated cost of more than $4bn. CIP did not disclose a capacity or a timeline for the project in this information.