Australian Wind Power Giant Eyes Vietnam Investment

Australia-headquartered Corio Generation, one of the largest wind power developers in the world, is exploring the development of a renewable energy power plant in Vietnamese waters.

Corio Generation is a portfolio company of Macquarie Asset Management operating on a standalone basis. The firm has one of the world’s largest offshore wind project pipelines with more than 30 GW in development across Europe, Asia-Pacific and the Americas.

In a meeting with Vietnam’s Prime Minister Pham Minh Chinh, during his official visit to  Australia, Corio’s Asia Pacific director Yi-Hua Lu said that the company aims to develop an offshore wind power project.

On March 5 Corio signed a memorandum of understanding with a subsidiary of Vietnam Electricity on collaborating on offshore projects. Under the terms of the MoU, Vietnam wants the wind power developer to transfer its technology to Vietnam as part of the deal.

Vietnam aims to develop 6,000 megawatts of offshore wind power by 2030.