The memorandum of understanding was signed on March 7 at the Vietnam Oil and Gas Group, marking the cooperative relationship between the leading State-owned economic group in the energy sector of Vietnam and the group investing in and developing renewable energy, including wind power and offshore wind power.
The two companies will leverage each other's strengths to contribute to Vietnam's net emission reduction target through the development of renewable energy projects with a focus on offshore wind power.
According to the memorandum of understanding, Petrovietnam and CIP will share knowledge and information on energy transition from oil and gas to renewable energy, with specific topics such as technology, supply chain, logistics, infrastructure, and technical expertise.
CIP Group will support training programs on new types of renewable energy such as technology to convert electricity into other fuel sources such as ammonia, green hydrogen, and backup power sources. The two sides will also study cooperation opportunities in developing offshore wind power projects in Vietnam.
Speaking at the signing ceremony, Danish Ambassador Nicolai Prytz affirmed that Vietnam and Denmark have had effective cooperation in the energy sector.
The Embassy will continue to act as a bridge and encourage potential Danish companies to invest in Vietnam, especially in the field of green transition. Danish investors are also ready to invest heavily in Vietnam’s offshore wind projects to provide electricity and reduce CO2 emissions.
At the signing ceremony, Mr. Phan Tu Giang - Deputy General Director of Petrovietnam said that developing clean energy and renewable energy will contribute to protecting the environment, minimizing adverse impacts on climate change, and ensuring sustainability in economic development.
Vietnam has made a strong commitment to reducing environmental pollution, committing to net zero emissions by 2050. This is both an opportunity and a challenge for stakeholders in the energy sector, including Petrovietnam.
“We are proud of the projects that CIP has pioneered in the United States, Taiwan, Korea and other countries,” said Robert Helms, member of the Board of Directors of CIP Group.
From the first 800MW Vineyard Wind 1 offshore wind project in the United States, two offshore wind projects under construction in Taiwan with a total capacity of 900MW expected to be operational in 2024, to the VindØ project - the world's first energy island located off the coast of Denmark.
In Vietnam, we wish to cooperate with Petrovietnam to research and develop offshore wind power projects, creating the premise to complete the infrastructure system and supply chain to serve similar projects in the future."
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