Binh Dinh proposes German firm’s $4.6 bln project for national power plan
Binh Dinh province has proposed the government add a $4.6-billion offshore wind power project of German wind farm developer PNE AG to the draft national power development plan VIII (PDP VIII).
The wind farm of Phuong Mai 3 power plant in Binh Dinh province, central Vietnam. Photo courtesy of Vietnam Clean Energy Association.
In a proposal, the coastal province urged central authorities to support the project, saying it has been attracting major investments to meet the target gross regional domestic product (GRDP) growth of 8.5-9% annually in 2021-2030.
The province also asked for guidelines to solve entanglements related to the sea areas for wind power survey.
PNE AG and Binh Dinh authorities signed a memorandum of understanding for the 2-gigawatt offshore wind power project at an investment promotion conference last November.
The German company proposed developing a 2 GW offshore project with 154-166 wind turbines of both floating and bottom-fixed types. Development will involve three phases, with 700 megawatts in 2025, another 700 MW in 2026, and the last 600 MW in 2027.
Earlier in October 2020, Binh Dinh province approved in principe for PNE AG to survey and install wind meters in the seas of Phu Cat and Phu My districts, for a 12-month research and survey.
Per the draft PDP VIII for the period 2021-2030, with vision until 2045, offshore wind power in Vietnam is set to reach a capacity of 7 GW in 2030 and 87 GW in 2050, accounting for 4.8% and 17.3% of the total generated electricity in 2030 and 2050, respectively.
PNE AG says it is active in Germany, Hungary, France, Turkey, the U.S., Latin America, Africa, and the Middle East.
- Related News
- Read More
VAFIE, Hung Yen province authority accompany taxpayers
The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and Hung Yen province's tax authority on Tuesday held a workshop on corporate tax policy updates and key notes on 2025 corporate income tax filings.
Companies - Wed, November 26, 2025 | 8:15 pm GMT+7
Thailand’s Super Energy earns $81 mln in Jan-Sep revenue from Vietnam
Super Energy Corporation, a Thai renewable-energy developer, recorded about THB2.62 billion ($81.28 million) in revenue from its Vietnam operations in the first nine months of 2025, according to its Q3 earnings report.
Companies - Wed, November 26, 2025 | 4:51 pm GMT+7
Turning point of Vietnam's fund management industry: exec
Vietnam’s asset management industry is entering a pivotal phase as the country seeks to diversify capital flows and strengthen long-term funding, said Lu Hui Hung, CEO of Phu Hung Fund Management, citing the Ministry of Finance's recently issued Decision 3168.
Finance - Wed, November 26, 2025 | 4:42 pm GMT+7
Gelex Infrastructure okayed to launch IPO of 100 mln shares
Gelex Infrastructure JSC has received approval from the State Securities Commission of Vietnam to proceed with an initial public offering of 100 million shares, the company said.
Companies - Wed, November 26, 2025 | 3:52 pm GMT+7
Seven young PV Gas employees selected for Petrovietnam’s 'Outstanding Youth 2025' program
Seven young employees of PetroVietnam Gas (PV Gas) have been selected for Petrovietnam’s “Outstanding Youth 2025” program, an initiative aimed at identifying and developing high-potential talent across the state energy group.
Companies - Wed, November 26, 2025 | 3:01 pm GMT+7
Deep C Industrial Zones in northern Vietnam draws three new projects worth over $242 mln
Deep C Industrial Zones in Quang Ninh province has secured three new investment projects with combined registered capital of about VND6.38 trillion ($242 million), reinforcing its position as an attractive destination for manufacturing and logistics.
Industries - Wed, November 26, 2025 | 1:58 pm GMT+7
Billionaire Pham Nhat Vuong's son takes helm at VinMetal as Vingroup pledges support for loss-making steel producer Pomina
Vingroup, Vietnam's biggest listed company by market cap, said its steel subsidiary VinMetal will provide Pomina Steel with a zero-interest working capital loan for up to two years, helping the troubled steelmaker stabilize operations and restore cash flow.
Companies - Wed, November 26, 2025 | 12:38 pm GMT+7
HAGL chairman says he sold 'everything possible' to save the company
Hoang Anh Gia Lai (HAGL) has successfully restructured with its debt reduced from VND36 trillion ($1.37 billion) to over VND6 trillion ($227.5 million), now focusing on developing raw material areas to gain scale advantages.
Companies - Wed, November 26, 2025 | 8:18 am GMT+7
Vingroup subsidiary VinMetal may acquire loss-making steel producer Pomina: broker
Ho Chi Minh City Securities (HSC) analysts said a potential acquisition of steel manufacturer Pomina could be a strategic move that allows VinMetal to gain a faster foothold in the steel industry by using Pomina’s existing construction steel capacity.
Companies - Tue, November 25, 2025 | 8:05 pm GMT+7
Vingroup plans $38 mln bond issuance to restructure debt
Vingroup (HoSE: VIC), Vietnam’s largest listed company by market cap, plans to issue VND1 trillion ($37.91 million) in bonds via private placement as it seeks to restructure debt.
Companies - Tue, November 25, 2025 | 3:52 pm GMT+7
Vietnam gov't proposes minimum $379 mln charter capital for offshore wind developers
The Vietnamese government has proposed that offshore wind power developers have a minimum charter capital of VND10 trillion ($379 million) each, according to a draft resolution designed to ease bottlenecks in the country’s 2026-2030 energy development plan.
Energy - Tue, November 25, 2025 | 3:41 pm GMT+7
Petrovietnam arm to venture into CO2 transportation, seabed minerals, geothermal
PVEP, the upstream arm of state giant Petrovietnam, plans to expand into new fields such as CO2 transportation and disposal (carbon capture, utilization, and storage), coal gas and underground mineral research, seabed minerals, and geothermal.
Industries - Tue, November 25, 2025 | 3:08 pm GMT+7
MB successfully closes landmark $500 mln inaugural green term loan facility agreement
Military Commercial Joint Stock Bank (MB) on Monday announced the successful closing of its three-year $500 million inaugural Green Term Loan Facility Agreement, marking a significant milestone in the bank’s sustainable financing journey.
Banking - Tue, November 25, 2025 | 2:17 pm GMT+7
Impact of rising exchange rates in Vietnam
Mirae Asset Securities analysts offer an insight into the impact of rising exchange rates on companies in Vietnam in a report dated November 21.
Economy - Tue, November 25, 2025 | 1:35 pm GMT+7
Vietnam's industrial park developers post strong earnings as tenant demand rebounds
Vietnam’s industrial real estate sector is showing stronger earnings and improving demand, with foreign tenants resuming lease negotiations after U.S. tariff policies became clearer, according to a brokerage report.
Industrial real estate - Tue, November 25, 2025 | 11:07 am GMT+7
Vietnamese export stocks under the radar despite strong earnings
Investor caution over tariff risks and the slowdown of major economies has prevented Vietnamese export stocks from making a strong price recovery.
Finance - Tue, November 25, 2025 | 8:44 am GMT+7
