T&T Group and Ørsted to invest 30 billion USD in offshore wind power development in Vietnam

HANOI, VIETNAM – Media OutReach – 10 September 2021 – On September 9, 2021, T&T Group, a multi-industry group of
Vietnam and Ørsted, a leading group in offshore wind power signed a Memorandum
of Understanding (MoU) on strategic cooperation in offshore wind power in
Vietnam, promises to bring a large supply of renewable energy
through new investment on offshore wind power projects in Binh Thuan and Ninh
Thuan provinces of Vietnam.

Mrs. Nguyen Thi Thanh Binh, Deputy General Director of T&T Group and Mr. Martin Neubert, COO & Deputy Group CEO of Ørsted, signed the Memorandum of Understanding (MoU) on strategic collaboration on offshore wind in Vietnam.

Accordingly, the two groups will use and promote the experience, strengths and capabilities to bring high efficiency for the
projects. Both sides cooperate in developing three projects in Binh Thuan and
Ninh Thuan provinces with a total estimated installed capacity of nearly 10 GW
and total expected investment of about
30 billion U.S. dollars in 20 years.

Do Quang Hien, Chairman of T&T Group, said: “T&T
Group has planned a strategy to develop renewable energy and gas to power
projects by 2030 with a vision to 2045, in line with the national strategy and
planning of energy. This cooperation will help T&T Group accelerate the
implementation of this strategy, bring valuable international experience and financial
resources in the implementation of projects in Vietnam.”

Matthias Bausenwein, President
of Ørsted Asia-Pacific, said: “Ørsted
aims to reach 30 GW of offshore wind power by 2030. To support this ambitious goal, we need to work closely
with a partner like T&T Group, who bring a deep understanding of the market
and have an impressive track record in developing large scale
energy projects in Vietnam.”

On the same day, T&T Group and Smart Universal
Logistics N.V, a leading Belgian company in sustainable energy and
environmental infrastructure development, also signed a MoU on cooperation in developing desalination plants
using wind power to produce fresh water for agriculture and aquaculture in
Vietnam.

T&T Group is one of the leading private economic groups in Vietnam, operating in seven core areas,
including energy sector. In the next 10 years, the power supply
capacity of T&T Group (LNG and renewable energy) is expected to reach about
10,000 – 11,000 MWp, accounting for about 8 per cent of total installed
capacity of power in Vietnam’s electricity system.

#T&TGroup