14:38 | 31/03/2021 Events
The La Gan Wind Power Development Corporation has opened a new office in Phan Thiet City, marking a significant milestone for the La Gan offshore wind farm project. The office is located at Hung Long Ward, Phan Thiet City, Binh Thuan Province.
The official opening of the office took place on 30th March 2021. The opening ceremony was attended by the project team and supporters including representatives from local government, the Danish Embassy and La Gan’s suppliers. Located in the center area of Phan Thiet, the new office will serve as a base for engaging with stakeholders in Binh Thuan.
Maya Malik, General Director of the La Gan Wind Power Development Corp said, “We want to work with local communities and build one of the first offshore wind farms in Vietnam in responsible way. The opening of our Binh Thuan office is a significant step and signals our commitment to work closely with local communities and government.”
The 3.5 GW La Gan offshore wind farm project is planned to be one of the first large-scale offshore wind farms in Vietnam. It has the potential to raise Vietnam’s profile in renewable energy on both a regional and global scale.
According to a study by BVG Associates, the fully built La Gan project is projected to generate over 45,000 full-time equivalent (FTE) jobs, where 1 FTE is 1 job for 1 year. The project is expected to contribute over $4.4 billion USD to the Vietnamese economy.
About 250 TWh of energy will be generated over the project lifetime. The fully constructed wind farm could power about seven million households. In addition, 130 million tonnes of CO2 emissions will be avoided over the project’s lifetime.
In July 2020, Copenhagen Infrastructure Partners (CIP), on behalf of its fund CI New Markets Fund I and together with Asiapetro and Novasia Energy, signed a MoU with Binh Thuan People’s Committee to develop the 3.5GW La Gan project off the coast of Binh Thuan. The signing took place during the Vietnam Energy Summit 2020 High-level Forum and was witnessed by high-ranking national and sector leaders and an industry consortium.
In December, CIP, Asiapetro, and Novasia Energy established a joint company, the La Gan Wind Power Development Corporation, to develop the wind farm.
CIP is a leading global investor in offshore wind and has raised over $14 billion across several renewable energy-focused funds, including the most recent CI IV – the world’s largest dedicated greenfield renewable energy fund to date. With the CI New Markets Fund I, CIP is managing a fund specifically targeted at fast-growing major new economies and with a current strong focus on Vietnam.
Asiapetro is a Vietnamese energy company that historically focused on the development of large-scale energy projects including oil, gas, solar and wind.
Novasia is a Vietnamese company that focuses on the development of renewable energy – particularly wind resources. Novasia features a team of Vietnamese and European professionals with substantial experience in the renewable energy industry.
In February 2021, the La Gan Wind Power Development Corporation signed four Memorandum of Understandings (MOUs) on foundation supply and harbour services. The MOUs were signed with Vietnam-based contractors: CS Wind Corporation, PTSC Mechanical and Construction (PTSC M&C), Southern Petroleum Construction J.S.C (Alpha ECC) and Vietsovpetro.
By implementing the highest international standards, using the most advanced wind-power technology, our goal is to secure Vietnam's long-term energy needs and support the development of local industry in a sustainable way.