Ørsted and T&T Group announced the signing of a memorandum of understanding (MOU) to launch a strategic collaboration on offshore wind in Vietnam. The signing took place in connection with the Vietnamese high-level visit to Brussels, led by the President of Vietnam’s National Assembly, His Excellency Vuong Dinh Hue. The collaboration between Ørsted and T&T brings together a multi-GW pipeline of greenfield offshore wind projects located off the coasts of the Binh Thuan and Ninh Thuan provinces, Vietnam’s most suitable areas for offshore wind development. Both partners will apply their groups’ joint capabilities to mature this offshore wind pipeline and work to support the development of an effective regulatory framework for offshore wind and a vibrant new industry in Vietnam. With more than 3,200 km of coastline and high consistent wind speeds, Vietnam has some of the best conditions for developing offshore wind in Asia. The World Bank Group estimates Vietnam’s offshore wind potential to be up to 500 GW. In addition to this world-class potential, Vietnam’s rapidly growing demand for power means there is an urgent need for new large-scale reliable power sources in the coming decades. These factors, in combination with Vietnam’s strong supply chain potential, have convinced Ørsted and T&T Group that offshore wind has a central role to play in Vietnam’s future power mix.