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Corio partners Vietnam Electricity on offshore wind

RICHARD HEAP

March 11, 2024

Corio Generation has teamed up with a subsidiary of utility Vietnam Electricity to develop offshore wind projects in the southeast Asian country.

Corio is a portfolio company of Macquarie Asset Management and has signed a memorandum of understanding with Vietnam Electricity subsidiary Power Generation Joint Stock Corporation 3 (EVNGENCO3). Corio said the deal showed its commitment to Vietnam, which is aiming to support the installation of 6GW of offshore wind in its waters by 2030 and up to 91.5GW by 2050.

Yi-Hua Lu, head of the Asia-Pacific region for Corio, said: “This MOU showcases our long-term commitment to Vietnam’s green energy transition. We look forward to working with EVNGENCO3 and continuing to engage with our stakeholders and further developing our portfolio in the country.”

Vo Minh Thang, vice president of EVNGENCO3, said: “In Vietnam, offshore wind is determined as an inevitable path towards supporting the country’s energy transition and sustainable development. We are honoured to be collaborating with Corio, one of the world’s leading offshore wind investors and developers.”

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