Denmark-based Copenhagen Infrastructure Partners (CIP) has signed a memorandum of understanding (MoU) with PetroVietnam to launch renewable energy (RE) and offshore wind projects in Vietnam. The project is expected to be developed at an investment of USD10.5 billion and will power more than 7 million households.
As per the MoU, the two companies will exchange knowledge about energy transition issues including technology, supply chain, logistics, infrastructure, and skills development. This will also include training programmes in new RE technologies such as Power-to-X (green hydrogen, green ammonia, etc.), battery storage and energy islands.