Japanese renewable power producer Renova Inc (TYO:9519) has joined forces with Ho Chi Minh City-based Petrovietnam Technical Services Corporation (PTSC), which provides services for the oil-and-gas industry, to work on offshore wind development in Vietnam.
This week, the two companies signed a memorandum of understanding (MoU), outlining collaboration terms for one offshore wind project.
The parties will "establish a cooperative relationship on scouting, preparation, offshore survey, development, construction, implementation, operation and maintenance of the offshore wind power project in Vietnam with a view towards commercialization,” Renova and PTSC said in a joint statement.
The partnership will benefit from PTSC’s experience in building offshore facilities in Vietnam, and Renova’s expertise in development of renewable energy projects, including engineering and financing, the companies added.
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