Corio Generation will help prepare long-term strategies for offshore wind project development in Vietnam.
The company signed a memorandum of understanding with Power Generation Joint Stock Corporation 3 (EVNGENCO3), a subsidiary of Vietnam Electricity, the country’s largest state-owned power company.
This partnership underscores Corio’s commitment to supporting Vietnam’s net zero emissions goal, which includes a 6GW target of offshore wind supply to the domestic market by 2030 and between 70GW-91.5GW by 2050.
The MoU exchange ceremony was held on 5 March in the presence of Vietnam’s Prime Minister Pham Minh Chinh, during the Australia-Vietnam Business Forum, part of the 2024 ASEAN-Australia Special Summit in Melbourne.
“EVNGENCO3 plays a significant role in supplying electricity to the national power system. We are excited to be signing this agreement with EVNGENCO3 to power Vietnam’s fast-growing economy through developing clean and sustainable offshore wind energy,” said head of APAC Region for Corio Generation Yi-Hua Lu.
“This MOU showcases our long-term commitment to Vietnam’s green energy transition. We look forward to working with EVNGENCO3 and continuing to engage with our stakeholders and further developing our portfolio in the country.”
Vice-president of EVNGENCO3 Vo Minh Thang added: “In Vietnam, offshore wind is determined as an inevitable path towards supporting the country’s energy transition and sustainable development. We are honoured to be collaborating with Corio, one of the world’s leading offshore wind investors and developers.
“The MOU demonstrates EVNGENCO3’s strong commitment to investing in and developing offshore wind projects, in line with Vietnam’s green energy transition.
“We believe that this cooperation will greatly contribute to the development of Vietnam’s power system and our ability and experience in O&M service for the entire lifetime of offshore wind projects.”