Mr. Tran Dinh Nhan – President and CEO of Vietnam Electricity worked with the CIP delegation
At the meeting, Mr. Robert Helms, Associate Partner and Offshore Wind Power Director of the New Market Fund (CIP) expressed his pleasure at the first official meeting between the two Groups. CIP offered and discussed with EVN's President and CEO cooperation possibilities in the development of a number of large-scale offshore wind power projects, and the development of transmission grids, etc.
EVN's President and CEO stated that EVN is interested in developing offshore wind power projects, especially in the North due to the possible power shortage in this region. The trend of wind power development has been indicated in the draft PDP VIII which is being submitted to the Government by the Ministry of Industry and Trade for approval. The offshore wind power installed capacity is expected to be about 7,000MW by 2030, and 16,000MW by 2035. However, the development of a large-scale offshore wind power project is not easily achieved, due to challenges related to technical, security and financial requirements, requiring experience in survey, engineering, construction, operation, etc.
Also according to EVN's President and CEO, EVN can cooperate with CIP and potential partners/businesses in the way that EVN owns the project and partners can be involved as a financial arrangers, equipment, service supplier or contractor, etc., thereby promoting the strengths of each party and contributing to the development of the energy market in Vietnam.
CIP is renewable energy, especially offshore wind power, developer and fund manager. CIP has to date successfully raised 08 funds with USD 19 billion under management and has developed an extensive offshore wind portfolio consisting of over 38 GW of projects in the U.S., U.K., Germany, Australia, Japan, South Korea, Taiwan, etc. CIP is currently developing the 3.5 GW La Gàn Offshore Wind Project in Bình Thuận Province, Vietnam. CIP is also involved in the research and development of new renewable technologies, namely Power-to-X (including green hydrogen/ammonia), energy storage, energy islands, and power transmission, etc.