Corio Generation to develop offshore wind power in Vietnam
VOV.VN - The leadership of Corio Generation that mainly operates in the field of offshore wind power expressed the desire to pilot projects in Vietnam during their meeting with Vietnamese Prime Minister Pham Minh Chinh in Canberra on March 8.
Yi-Hua Lu, head of Corio Generation’s Asia-Pacific region (APAC), briefed the Vietnamese leader on the firm’s profile, saying Corio, a subsidiary of Macquarie, operates in the field of offshore wind power and renewable energy. The firm is managing the world’s largest offshore wind power portfolio, with a capacity of more than 30 GWs in the UK, Norway, and Sweden.
Corio has engaged in research and development of a number of renewable energy projects in Vietnam since 2019. As a member of the Glasgow Financial Alliance for Net Zero (GFANZ), it is currently coordinating with partners to mobilize resources for energy conversion projects in Vietnam.
The firm on March 5, 2024 signed a memorandum of understanding on cooperation in developing offshore wind power projects in Vietnam with Power Generation Corporation 3 under Electricity of Vietnam Group (EVN).
Yi-Hua Lu said the firm plans to expand investment in Vietnam in the field of renewable energy, and it desires to pilot offshore wind power projects in the country.
For his part, PM Pham Minh Chinh, who is paying an official visit to Australia, highly appreciated the effective business and investment activities of Macquarie in general and Corio Generation in particular in recent times.
He asked the firm to coordinate with relevant Vietnamese ministries and agencies to examine and deploy specific projects, so as to bring practical benefits to both sides. Problems that may arise during the implementation process will be handled by a Deputy Prime Minister.
The PM also suggested that Corio diversify its partners in Vietnam, including Electricity of Vietnam Group (EVN) or Vietnam National Petroleum Group (PVN), which have also acquired experience in wind power development.
As Vietnam wants to develop the wind power industry, he asked the firm to focus on technical support and technology transfer, in addition to investment.
Vietnam is committed to creating favourable conditions and protecting legal and legitimate rights and interests of investors to help them operate and do business effectively and sustainably in the country, he said.
