China's giant Huadian Group eyes enlarging renewable energy portfolio in Vietnam
Huadian Group, a wholly state-owned company of China, is keen to further invest in Vietnam’s renewable energy sector.
Peng Gangping, chairman of the group's board of directors, made the statement at a meeting with Vietnam's Prime Minister Pham Minh Chinh on Wednesday in Hanoi.
"Huadian aims to expand its presence in Vietnam's renewable energy landscape by launching more projects in biomass power, wind power, and energy storage in the provinces of Dak Lak, Tra Vinh, Quang Tri, and Lam Dong," he said.
Peng Gangping added that the corporation also plans to collaborate with Vietnamese research institutes and universities to facilitate technology transfer and workforce training.
PM Pham Minh Chinh (right) receives Peng Gangping, chairman of China's Huadian Group, in Hanoi, May 14, 2025. Photo courtesy of the government's news portal.
The Huadian chairman proposed the Vietnamese government expedite the finalization of investment policies for green energy projects, including wind, solar, biomass, hydrogen energy; energy storage; and pumped storage hydropower.
He emphasized the need for preferential policies that support the modernization of traditional energy systems, enhancing energy efficiency, reducing emissions, and upgrading existing coal-fired power plants.
Peng Gangping proposed the Vietnamese cabinet leader provide support in resolving challenges faced by current projects, speeding up the approval process, and facilitating projects' commercial operation.
He also asked for favorable conditions regarding site selection, land use, and implementation of new projects.
PM Chinh said he encourages Huadian to leverage its strengths and apply its expertise in ways tailored to Vietnam’s needs, contributing to Vietnam's energy security.
He welcomed the group’s continued investment in green energy projects, including wind, solar, biomass and hydrogen energy; energy storage; and pumped storage hydropower; as well as broader involvement in production and R&D.
The prime minister emphasized the importance of partnerships built on “shared benefits and shared risks”.
Huadian has invested approximately $2.8 billion in energy projects across Vietnam, with an installed capacity of 1.5 GW, according to Peng Gangping.
Its investment portfolio includes the Duyen Hai 2 thermal power plant in the southern province of Tra Vinh and four wind power projects in the Central Highlands province of Dak Lak.
The company is currently involved in four core areas: high-end equipment and technical systems, power plant investment and construction, clean energy, and environmental protection within the power sector.
It has total assets of over $100 billion and employs about 93,000 people globally.
- Related News
- Read More
Vietnam’s macroeconomic indicators 'broadly positive': Dragon Capital
Vietnam's macroeconomic indicators remained broadly positive, with both trade and FDI attraction performing well in the first four months of the year, write Dragon Capital analysts.
Economy - Thu, May 15, 2025 | 5:47 pm GMT+7
'How many new jobs created’ should be new KPI for local governments: VCCI leader
With a shift in thinking about the role of the private sector, local governments may soon prioritize creation of new jobs and businesses over traditional growth metrics, according to Dau Anh Tuan, deputy secretary-general of the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Thu, May 15, 2025 | 5:23 pm GMT+7
Herbalife’s Vietnam earnings hit $75.4 mln in Q1, exceed China tally
Herbalife, a global multi-level marketing corporation selling dietary supplements, recorded $75.4 million in net sales in Vietnam in the first quarter of 2025, according to the firm’s report.
Companies - Thu, May 15, 2025 | 5:01 pm GMT+7
Japan’s Nitto Denko to quadruple northern Vietnam plant's production capacity
Nitto Vietnam, a subsidiary of Japan’s multi-sector corporation Nitto Denko, has decided to raise the investment in its Hung Yen province-based plant by $28 million to $160 million.
Investing - Thu, May 15, 2025 | 3:58 pm GMT+7
UAE Embassy, VAFIE to jointly strengthen Vietnam-UAE business connections
The Embassy of the United Arab Emirates (UAE) in Hanoi and the Vietnam's Association of Foreign Invested Enterprises (VAFIE) on Wednesday agreed to jointly deploy specific measures to lift trade and investment ties between the two countries.
Companies - Thu, May 15, 2025 | 2:37 pm GMT+7
Turbulent times of Vietnam's food giant Kido
Profits of Kido Group, a leading food company in Vietnam, have been lower than its leaders' expectations in the past few years, with its real estate investment and divestment from Kido Foods not being smooth sailing.
Companies - Thu, May 15, 2025 | 2:27 pm GMT+7
Impact of US tariffs on Vietnam’s textile, clothing and footwear sector
The adjustments in the U.S. tariffs are poised to reshape Vietnam’s textile, clothing and footwear industry, prompting businesses to reassess their strategies and operations, write Assoc. Prof. Rajkishore Nayak and Corinna Joyce from the Fashion Enterprise program at RMIT University Vietnam.
Consulting - Thu, May 15, 2025 | 8:17 am GMT+7
Malaysia-EU FTA expected to promote ASEAN-EU ties
The EU is placing high expectations on the Free Trade Agreement (FTA) with Malaysia as a central pillar in its strategy to strengthen relations with the Association of Southeast Asian Nations (ASEAN) amid escalating global uncertainties.
Southeast Asia - Wed, May 14, 2025 | 10:17 pm GMT+7
Malaysia works hard to expand semiconductor ecosystem
Malaysia needs to broaden its manufacturing ecosystem beyond assembly lines and semiconductors to fully capitalize on foreign investments, towards becoming a more complete manufacturing hub.
Southeast Asia - Wed, May 14, 2025 | 10:14 pm GMT+7
Vietnam's Phu Quoc airport to undergo major upgrade ahead of APEC 2027
Phu Quoc International Airport in the southern province of Kien Giang will be expanded and upgraded to support local economic development, while ensuring transport infrastructure for hosting the 2027 APEC Economic Leaders' Week.
Travel - Wed, May 14, 2025 | 9:57 pm GMT+7
Banks cut staff, transaction branches amid accelerating digital transformation
A series of banks have announced plans to cut staff and transaction offices, setting off a wave of job losses in the banking industry that has been considered one of the hottest professions in recent years.
Companies - Wed, May 14, 2025 | 9:51 pm GMT+7
Malaysia’s maritime sector struggling due to new US tariff policy: expert
Malaysia’s maritime sector, particularly seaport transportation, faces mounting pressure from the U.S.’s tariff policy.
Southeast Asia - Wed, May 14, 2025 | 9:40 pm GMT+7
VinSpeed registers $60.24 bln investment for Vietnam's high-speed transnational railway
VinSpeed High-Speed Rail Investment and Development JSC, a subsidiary of private conglomerate Vingroup, on Wednesday announced its registration to invest in Vietnam’s North-South high-speed railway project.
Companies - Wed, May 14, 2025 | 9:24 pm GMT+7
Resolution 68: A new dawn for Vietnam’s private sector
Resolution 68, issued last week by the Politburo, Vietnam's highest decision-making body, is a landmark directive poised to redefine the landscape for private enterprises in the country. It outlines a clear vision for a rapidly developing, sustainable, and globally competitive private sector, write VinaCapital analysts.
Consulting - Wed, May 14, 2025 | 8:53 pm GMT+7
Vietnam’s dividend-paying stocks create buzz among investors
Cash dividend-paying stocks in Vietnam continue to capture attention from investors, particularly newcomers, to the stock market.
Finance - Wed, May 14, 2025 | 4:33 pm GMT+7
Bao Viet-led insurance consortium signs $2 bln deal with high-tech firm on healthcare projects
A consortium of insurers led by Bao Viet Insurance on Tuesday signed a framework agreement to provide comprehensive insurance services to Nhat Hai New Technology JSC (OIC New) for its healthcare projects during 2026-2036.
Finance - Wed, May 14, 2025 | 4:29 pm GMT+7
