Central Vietnam province Ha Tinh picks Vingroup for 2 wind power projects worth $1.48 bln

The Ha Tinh People’s Committee has selected VinEnergo, an energy arm of Vingroup, as the investor for two offshore wind power projects in Ky Anh, with a combined investment of more than VND39 trillion dong ($1.48 billion).

The first project, with an investment of over VND17 trillion ($644.7 million), is designed to supply about 1,053 GWh a year with a capacity factor of 30.1%.

It will cover 5.5 hectares of onshore land, over 825 hectares of sea surface, and 113 hectares of temporary construction space. The 400MW plant will install 47 turbines with capacities ranging from 5 to 8.5 MW.

The second project, the 498 MW Eco Wind Ky Anh plant, requires over VND22 trillion ($834.3 million) in investment capital. It is expected to generate around 1,322 GWh annually with a 30.3% capacity factor.

The project will install 59 turbines and build a 66/500 kV, 2x300 MVA substation along with a double-circuit 500-kV transmission line connecting to the Ha Tinh-Vung Ang grid.

Ha Tinh authorities conducted an investor selection process inviting both domestic and foreign bidders.

Under the approval, VinEnergo is required to complete all procedures Q3/2026, start construction in Q4/2026, and begin commercial operations from Q4/2028. The company has committed to fully funding the projects in cash.

Provincial leaders stated that the selection was based on open and transparent evaluation of investor capacity. The projects align with the province’s plan to expand renewable energy in support of industrial growth at the Vung Ang Economic Zone - home to the largest steel, thermal power, and seaport center in the central region, and to meet targets set out in the country's Power Development Plan VIII.

The implementation of the projects is expected to be the foundation of a wind power chain that VinEnergo can continue to expand in the north-central region, where wind amplitude is assessed to be favorable for large capacity development.

VinEnergo, established in 2025, is part of the Vingroup ecosystem and has been expanding in renewable energy, energy storage, carbon credits and new energy technologies such as green hydrogen and ammonia.

The company is developing large-scale energy projects, including an LNG-to-power project - one of the largest thermal power projects under Power Plan VIII. VinEnergo’s charter capital has risen to more than VND28 trillion ($1.06 billion).