The Korea Trade Insurance Corporation (K-SURE) will provide USD110 million to fund the construction of an offshore wind tower factory in Vietnam. The project will be developed by South Korea-based CS Wind.
The factory, located in Vung Tau, will produce 10-metre-large diameter offshore wind towers. By 2030, the site will produce around USD3.01 billion worth of wind towers to be supplied to Siemens Gamesa Renewable Energy S.A. (SGRE).