Corio Generation has appointed Vietnamese construction company Fecon to build the proposed 500MW Vung Tau offshore wind farm.
The pair signed a joint development agreement on 22 June at a ceremony in Hanoi.
The agreement “demonstrates Corio’s commitment towards renewable energy development in Vietnam”, said the company, which is a standalone portfolio business of Macquarie’s Green Investment Group.
Vung Tao could be among the first large-scale offshore wind projects to be built in Vietnam, once licences and approvals are obtained.
Once constructed, the fixed-bottom project could produce around 1250 gigawatt-hours of electricity and avoid more than 600,000 tonnes of carbon emissions a year, according to an analysis by Green Investment Group.
Corio Generation chief executive Jonathan Cole said: “With its vast wind resources, Vietnam can be a South-east Asian powerhouse in offshore wind, providing clean, affordable electricity, as well as supporting jobs and economic opportunities for local communities.
“The team in Hanoi has been examining opportunities across the country for many years. We are looking at a number of potential projects and partnerships, demonstrating Corio’s commitment towards offshore wind in Vietnam.
“Our strategy is to work and collaborate with the most reputable and capable local companies. We are therefore excited to be signing this joint development agreement for the Vung Tau project with Fecon, a leading infrastructure and energy group with a strong track record including in wind and solar energy.”
Fecon chairman Pham Viet Khoa said: “We believe this project will be delivered to a high standard, meeting Vietnam’s urgent power needs for developing the economy.
“We look forward to Corio contributing to accelerate the development of the country’s offshore wind sector.
“In Vietnam, Corio has a team of experienced local staff who understand the investment landscape of the renewable energy sector.”