Accelerating offshore wind project implementation

On February 11, at the headquarters of the Ministry of Industry and Trade of Vietnam, Deputy Minister Nguyen Hoang Long chaired a meeting with CIP of Denmark to review implementation of the South Central Region Offshore Wind Project 1 and outline next steps for cooperation. Representatives of the ministry’s Electricity Authority and the Vietnam National Industry - Energy Group (PVN) also attended.

The CIP delegation was led by Ole Kjems Sorensen, Senior Member of the CIP Board and Chief Executive Officer of Growth Markets Fund II (GMF II). The delegation also included Robert Helms, CIP Board Member and signatory representative of the Joint Development Agreement (JDA), along with other members and interpreters.

At the meeting, CIP representatives extended New Year greetings to Deputy Minister Nguyen Hoang Long and presented updated progress on cooperation with the PVN in developing offshore wind projects in Vietnam’s South Central coastal region.

According to information presented at the session, the South Central Region Offshore Wind Projects 1.1 and 1.2 have a combined capacity of approximately 1000MW. They are included in the list of offshore wind projects under the adjusted Power Development Plan VIII and designated as nationally significant, strategic energy projects under Decision No. 2634/QD-TTg dated December 2, 2025, issued by the Prime Minister.

On August 8, 2025, the PVN and CI GMF II Coöperatief U.A. an entity managed by CIP signed a Joint Development Agreement for the offshore wind project. Subsequently, on January 14, 2026, the PVN received Decision No. 138/QD-BNNMT from the Ministry of Agriculture and Environment assigning the designated marine area for project implementation.

The PVN and CIP are currently undertaking preparatory activities, including field surveys and development of a pre-feasibility study report, in accordance with prevailing legal regulations and National Assembly Resolution No. 253/2025/QH15 on mechanisms and policies for national energy development during the 2026 - 2030 period.

The CIP representatives also reaffirmed the group’s long-term commitment to supporting Vietnam’s energy transition and expressed their hope for continued guidance and facilitation from the Ministry of Industry and Trade regarding investment activities in the country.

Advancing regulatory frameworks for offshore wind development

In his remarks, Deputy Minister Nguyen Hoang Long welcomed the CIP delegation to Vietnam at the beginning of 2026 and commended the Danish company’s sustained engagement in the development of Vietnam’s energy sector, as well as its contributions to bilateral cooperation between the two countries.

He emphasized that since November 2023, Vietnam and Denmark have elevated their ties to a Green Strategic Partnership. Within this framework, the Government of Denmark has supported Vietnam through the Vietnam - Denmark Energy Partnership Program (DEPP), contributing to the formulation of a low-carbon development pathway for the energy sector aligned with Vietnam’s Nationally Determined Contributions (NDC) and strengthening national greenhouse gas reduction targets.

The Ministry of Industry and Trade acknowledged the progress achieved by the PVN and CIP in signing and implementing the Joint Development Agreement, as well as the PVN’s allocation of the offshore project area. The ministry expressed support for the development of the South Central Region Offshore Wind Project 1 and called on the CIP to closely adhere to Vietnam’s existing legal framework, regulations and planning to ensure efficient, timely and compliant implementation.

At the same time, ministry leadership noted several structural challenges. Offshore wind remains an emerging sector in Vietnam, and the current legal framework has yet to fully address and guide all aspects of project preparation and development. In addition, grid connection and power evacuation arrangements have not been clearly defined, potentially affecting technical design, financial planning and overall implementation schedules.

Infrastructure supporting offshore wind development, including ports and specialized service complexes also remains insufficient. Upgrading or constructing new infrastructure is therefore an urgent requirement to achieve offshore wind development objectives under Power Development Plan VIII.

At the meeting, the PVN proposed that the Ministry of Industry and Trade expedite the issuance of regulatory guidelines for offshore wind development; consider applying elements of the oil and gas management model to offshore wind project governance; adopt flexible approaches to implementation challenges; and direct relevant agencies to promptly determine grid connection and power evacuation solutions, including connection points, grid scale, allocation of investment responsibilities and synchronized implementation timelines.

Founded in 2012, Copenhagen Infrastructure Partners is the world’s largest dedicated renewable energy investor and among the leading global developers of offshore wind projects. The company manages 12 renewable energy investment funds with total committed capital of approximately USD 30 billion. Its global project portfolio has a total capacity of about 120GW, nearly half of which  around 60GW consists of offshore wind developments.