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The Ministry of Agriculture and Environment issued a decision authorising a site survey assessment for a 500MW offshore wind project in greater Ho Chi Minh City. The licence is one of the first to be granted to a foreign developer under new regulations.

The venture will strengthen Vietnam’s energy security and support its economic growth targets, while also promoting the shared national security interests of the US and Vietnam, aligned with the US-Vietnam comprehensive strategic partnership.

"Pacifico welcomes the opportunity to work closely with Vietnamese authorities and industry stakeholders to create an enabling regulatory framework that will ensure the successful development of Vietnam’s offshore wind resources," the company said.

It is one of the few US energy companies to have developed commercial-scale energy ventures in Vietnam, with a 40MW solar farm in Lam Dong and a 30MW wind farm in Vinh Long.

Pacifico is a leading US energy infrastructure developer, owner, and operator in the Asia-Pacific region, with over 1.5GW of projects in operation and $5 billion of capital deployed in Japan, South Korea, and Vietnam, and billions more in the pipeline, including a 3.2GW offshore wind venture in South Korea.