Macquarie’s Corio Generation is partnering with Vietnamese construction company Fecon to develop and operate a 500-megawatt offshore wind farm in Ba Ria, Vung Tau province in southern Vietnam.
The Vung Tau project could be among the first large-scale offshore wind farms to be built in Vietnam. Located about 30 kilometres from the coast, it could produce 1,250 gigawatt-hours of clean electricity and avoid more than 600,000 tonnes of carbon emissions a year.
Corio is a portfolio company of Macquarie’s Green Investment Group. Created in April this year to operate on a standalone basis, Corio has one of the world's largest offshore wind development portfolios, at over 20GW.
“With its vast wind resources, Vietnam can be a Southeast Asian powerhouse in offshore wind, providing clean, affordable electricity, as well as supporting jobs and economic opportunities for local communities," says Corio chief executive Jonathan Cole. “The team in Hanoi has been examining opportunities across the country for many years. We are looking at a number of potential projects and partnerships, demonstrating Corio’s commitment towards offshore wind in Vietnam."
Corio has also announced plans for five offshore wind farms in Brazil totalling more than 5GW.
The fixed-bottom projects, which are at early-stage development, are the 1.2GW Costa Nordeste, 495MW Vitoria, 1.2GW Guarita, 1.2GW Cassino, and 1.17GW Rio Grande.