The initiative named "La Gen" is estimated to value approximately US$ 10 billion.
In fact, the project is considered one of the first large scale offshore wind projects in Vietnam, which could raise region's profile in renewable energy around global.
The signing of the MOU on development of the La Gan offshore wind project between CIP, Asiapetro, Novasia and Binh Thuan province is an important milestone and it would not be possible without the strong and valuable support and cooperation from the local authorities and partners.With this project, we commit to cooperate with our local partners to make this project a showcase for successful technology-transfer and utilization of local competences.
...said CIP Partner Michael Hannibal.
With an expected capacity of 3.5 GW, the La Gan offshore wind project will provide Vietnam with access to the most advanced and modern wind-power technology and support Vietnam’s transition to a power system with a high ratio of renewable energy integration and low carbon emission.
Following their agreement, partners are fully engaged in the project development, as they are already working closely with the Binh Thuan region and national government authorities, preparing a final investment decision after inclusion of the project into the Power Development Plan of Vietnam.