A consortium including Copenhagen Infrastructure Partners (CIP) is planning to build a $10bn (€8.6bn) offshore wind project in Vietnam.

The Danish investment firm’s CI New Markets Fund I fund, together with Asiapetro and Novasia, have signed a memorandum of understanding with Binh Thuan People’s Committee to develop the 3.5GW La Gan offshore wind project off the coast of Binh Thuan.

CIP said the project partners are already fully engaged in the project development in close collaboration with the Binh Thuan region and national government authorities, preparing a final investment decision after inclusion of the project into the power development plan of Vietnam.

The project is estimated to have a capital expenditure of up to $10bn.

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