Prime Minister receives Mr. Robert Helms, Member of the Board of Directors of Copenhagen Infrastructure Partners Group (Denmark) - Photo: VGP/Nhat Bac
Copenhagen Infrastructure Partners (CIP) is one of the world's leading offshore wind power developers and global fund managers headquartered in Denmark. Currently, the Group has developed and managed 50 GW, equivalent to 28 billion USD in major markets such as the United States, the United Kingdom, Germany... and plans to invest more than 110 billion USD in the renewable energy sector by 2030.
In Vietnam, CIP has established a joint venture company and two representative offices to research and develop offshore wind power projects, including the 3.5 GW La Gan offshore wind power project in Binh Thuan province with a total expected investment capital of 10.5 billion USD.
Prime Minister receives Mr. Ian Hatton, Chairman of Enterprize Energy Group (UK) - Photo: VGP/Nhat Bac
Enterprize Energy (EE) is a British multi-industry corporation operating in the field of marine natural resource exploitation and energy development (including oil and gas, offshore wind power, onshore wind power and thermal power).
In Vietnam, EE has cooperated with Societe Generale (France), Vestas (Denmark), ODE (UK) to develop the Thang Long Wind Complex in Binh Thuan province with 2 component projects: Thang Long Wind (TLW) to connect to the national grid, capacity of 3,400 MW, total investment of 11.9 billion USD; Thang Long Wind 2 (TLW2) to produce and export hydrogen energy from water electrolysis, total capacity of 2,000 MW, total investment of 5 billion USD.
At the meeting, the leaders of the corporations shared their experiences in the field of offshore wind power development and renewable energy; discussed the Group's investment cooperation projects in Vietnam with the desire to contribute to Vietnam's very ambitious goal of achieving net zero emissions by 2050.
Prime Minister Pham Minh Chinh highly appreciated the experience and capacity of the two corporations in the field of renewable energy - Photo: VGP/Nhat Bac
Prime Minister Pham Minh Chinh highly appreciated the experience and capacity of the two corporations in the field of renewable energy, especially offshore wind power and new energy; welcomed the corporation for proposing, together with ministries, branches, localities and agencies of Vietnam to research and implement feasible projects, in line with Vietnam's development orientation in the coming period.
The Prime Minister said that after COP 26, Vietnam has done 12 major things to fulfill its commitments to reduce net emissions. In particular, Vietnam has approved the Power Plan VIII and issued a plan to implement this Plan, in which the private sector, especially foreign investors, with resources, experience and management capacity, are encouraged to participate in investing in power projects in Vietnam. Vietnam has an agreement on selling renewable electricity to Singapore.
The Prime Minister suggested that corporations continue to accompany and cooperate with Vietnam in developing the renewable energy, wind power, and solar power industries, contributing ideas to build and perfect strategies and institutions, and implementing specific projects based on planning, with appropriate priority policies (on taxes, prices, land use, water surface, sea surface, etc.). The Prime Minister said that it is necessary to develop synchronously both power sources, power transmission, distribution, and efficient use of electricity and ensure electricity prices suitable to Vietnam's conditions and circumstances, the affordability of people and businesses, and in harmony with other sectors. If only one side benefits and the other side suffers, the cooperative structure cannot exist, and cooperation will never be sustainable.
Regarding specific projects of corporations, the Prime Minister said that they are basically consistent with the 8th Power Plan, and suggested close coordination with the Ministry of Planning and Investment, the Ministry of Industry and Trade and the Vietnam Oil and Gas Group (Petrovietnam) to research and effectively implement specific investment projects.
The Prime Minister asked corporations to continue to accompany and cooperate with Vietnam in developing the renewable energy industry... - Photo: VGP/Nhat Bac
The Prime Minister said that relevant parties need to listen to each other's opinions, promptly resolve arising difficulties and problems, and ensure harmony and rationality, especially in terms of power transmission and prices, in the spirit of mutual victory, harmonious benefits, and shared risks.
The Prime Minister suggested taking quick action, implementing and completing a number of projects quickly, neatly and decisively, then drawing lessons and expanding the implementation of other projects.
The Government is committed to creating all favorable conditions for foreign investors in general and corporations in particular to invest effectively and long-term in Vietnam.
At the meeting, Petrovietnam General Director Le Manh Hung said that offshore wind power is a focus in the Group's strategic shift. Implementing the Prime Minister's direction, the Group is building a list of offshore wind power projects, reporting to competent authorities; implementing human resource training for this field; cooperating with large corporations in the world and directly investing, participating in the global supply chain of offshore wind power, moving towards autonomy in offshore wind power development.
Vietnamese authorities estimate that about 120-140 billion USD is needed to implement the Power Plan VIII and carry out the energy transition in the next 10 years. Recognizing that this is a big challenge, but an inevitable trend, requiring large resources and a methodical strategy, Vietnam hopes that foreign partners will continue to participate in supporting, consulting on policies, mobilizing investment sources, green finance and directly participating in investing in renewable energy and energy transition projects in Vietnam.
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