Corio’s offshore project spree continues with Vietnamese JV

Project follows announcements of large offshore projects in Australia and Brazil

A signing ceremony for the offshore project will take place in Hanoi today (pic credit: Manan Vatsyayana/AFP via Getty Images)
A signing ceremony for the offshore project will take place in Hanoi today (pic credit: Manan Vatsyayana/AFP via Getty Images)

Corio Generation is to sign a joint development agreement with Vietnamese construction and infrastructure group Fecon for a proposed 500MW offshore windfarm.

The company claimed the proposed 500 MW Vung Tau offshore windfarm, 23-35km from the coast, could be among the first large-scale offshore wind projects to be built in Vietnam, once licences and approvals are obtained.

A signing ceremony for the windfarm, to be located in Ba Ria, in Vung Tau province, will take place in the capital, Hanoi, today.

Corio is a global offshore wind firm owned by Macquarie’s Green Investment Group, operating on a standalone basis.

Once complete, Corio said the fixed-bottom project could produce 1,250 GWh of clean electricity a year, according to an analysis by the Green Investment Group.

Jonathan Cole, CEO of Corio said: “With its vast wind resources, Vietnam can be a South-east Asian powerhouse in offshore wind, providing clean, affordable electricity, as well as supporting jobs and economic opportunities for local communities.”

The project comes on the back of a series of announcements by Corio.

Earlier this month, the company unveiled plans for new 2.5GW offshore wind farm off the coast of Victoria, more than doubling its offshore pipeline in Australia.

Days later, the company announced it was planning five wind projects in Brazilian waters with a combined capacity of more than 5GW – its first in the Americas.

And in May, Corio said it had won US$1 billion of financial backing from Canadian investor Ontario Teachers’ Pension Plan to develop an offshore wind pipeline of 14 projects, totalling 9GW worldwide

Cole hinted that more projects could be announced in Vietnam soon.

He added: “The team in Hanoi has been examining opportunities across the country for many years. We are looking at a number of potential projects and partnerships, demonstrating Corio’s commitment towards offshore wind in Vietnam.”

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