The Vietnam – Russia joint-venture Vietsovpetro and the La Gan wind power project development JSC signed a contract on July 15 to conduct a geographical survey for the La Gan offshore wind power project off the coast of the south central province of Binh Thuan.
The online signing ceremony was held with the witness of Danish Ambassador to Vietnam Kim H.Christensen.
Speaking at the event, Christensen expressed his belief that the Vietnamese Government and local authorities will soon grant necessary licences and approvals for the project to be implemented as early as possible, contributing to realising the Vietnamese Government’s vision on energy development in a green and sustainable manner.
Since the signing of a Memorandum of Understanding with the provincial People’s Committee in July 2020, the project has made significant progress.
With an estimated capital of US$10 billion and a designed capacity of 3.5 GW, La Gan is one of the first large-scale offshore wind power projects in Vietnam.
According to the BVG Associates, the project will create over 45,000 full-time equivalent (FTE) jobs, contribute over US$4.4 billion to the economy during the course of the project.
It is also expected to generate electricity for over 7 million households each year, while reducing the emission of 130 million tonnes of CO2 during the project's duration.
In December 2020, the Copenhagen Infrastructure Partners (CIP), Asiapetro and Novasia Energy formed a joint venture to develop La Gan offshore wind farm.