Vietnam-based T&T Group and Denmark-based Ørsted, an offshore wind power developer, have signed a memorandum of understanding (MoU) to boost strategic cooperation in offshore wind power in Vietnam. Under the MoU, the two companies will collaborate to increase new investments in renewable energy (RE) such as offshore wind power projects in Binh Thuan and Ninh Thuan provinces of Vietnam.
The two firms will combine their expertise and capacities to increase project efficiency in the country. The partners will construct three projects in the provinces of Binh Thuan and Ninh Thuan, with a total projected installed capacity of approximately 10 GW. The three RE project will have a total expected investment of around USD30 billion over the next 20 years.