CIP and Petrovietnam Sign Implementation Deed for Nam Trung Bo 1 Offshore Wind Project

Copenhagen Infrastructure Partners (CIP) and Petrovietnam have put pen to paper on a Joint Development Agreement Implementation Deed covering the Nam Trung Bo 1 offshore wind project in Vietnam, an undertaking with an estimated cost of more than USD 4 billion, according to the Danish investment firm.

The deed sits within CIP's wider partnership with Petrovietnam to develop the scheme. CIP said the document was presented at an official MoU ceremony staged as part of the Denmark-Vietnam Business Forum.

A Deal Presented at the Business Forum

The ceremony coincided with a state visit to Denmark by Vietnam's General Secretary Tô Lâm. The business forum, hosted by Danish Industry (DI), drew both Tô Lâm and Denmark's King Frederik X. CIP partner Robert Helms appeared alongside Petrovietnam representatives to present the agreement. Helms also contributed to discussions on Vietnam's energy transition during the forum.

CIP's Role Elsewhere in the State Visit

The signing was not CIP's only point of contact with the visit. Earlier in the programme, CIP representative Torsten Lodberg Smed took part in a high-level CEO roundtable and attended an official state banquet hosted by King Frederik X.

The roundtable convened Danish companies with long-term ambitions in Vietnam to discuss investment, growth and the conditions required to speed up economic cooperation. Those present included Tô Lâm, senior Vietnamese ministers and officials, King Frederik X, Danish Foreign Minister Lars Løkke Rasmussen and DI chief executive Lars Sandahl Sørensen.

What CIP Says It Wants From the Vietnamese Market

CIP described Vietnam as a market with significant potential for large-scale investment in energy infrastructure and pointed to its long-term commitment there. Through the tie-up with Petrovietnam, the company said it aims to support Vietnam's energy transition, energy security and industrial development.