EVN eyes floating solar projects in central Vietnam

EVNGENCO1, a subsidiary of Vietnam’s state-owned utility Vietnam Electricity (EVN), is looking to invest VND4.4 trillion ($167 million) in three floating solar power projects in the central province of Lam Dong, expanding its push into renewable energy as Vietnam accelerates efforts to diversify electricity supply and cut carbon emissions.

The projects, proposed during a working session with provincial authorities on Wednesday, would have a combined capacity of nearly 270 MW and be developed on the reservoirs of existing hydropower plants operated by the firm.

The proposed developments include a 96MW floating solar plant worth VND1.6 trillion ($60.7 million) on the Dai Ninh reservoir in Ninh Gia commune; a 100MW first-phase project on the Ham Thuan reservoir in La Da commune (VND1.65 trillion or $62.6 million); and a 70MW second-phase expansion (VND1.15 trillion or $43.63 million) on the Da Mi reservoir in Dong Kho commune.

EVNGENCO1 said the projects are designed to utilize existing hydropower reservoir surfaces, allowing renewable generation capacity to be added without requiring large new land allocations. The strategy also aligns with Vietnam’s broader transition toward cleaner energy sources under government’s net-zero targets.

Lam Dong has emerged as one of Vietnam’s important renewable energy hubs thanks to its large hydropower infrastructure and favorable natural conditions. EVNGENCO1 and its subsidiaries currently manage several major hydropower facilities in the province, including Dai Ninh, Dong Nai 3, Dong Nai 4, Da Nhim and Ham Thuan–Da Mi, with total installed capacity of about 1,615 MW.

The company already operates one of Vietnam’s landmark floating solar projects through Da Nhim-Ham Thuan-Da Mi Hydropower JSC. Its 47.5 MWp Da Mi floating solar plant entered commercial operation in 2019 and was the country’s first floating solar project.

The facility produces roughly 70 million kWh annually and has been viewed as a pilot model for integrating solar generation with hydropower infrastructure.

Beyond floating solar, EVNGENCO1 said it is also studying additional green energy projects in Lam Dong, including pumped-storage hydropower, wind power, biomass, and waste-to-energy plants. The company aims to strengthen renewable integration into Vietnam’s national grid while improving supply stability as electricity demand continues to rise alongside industrial expansion.

Additionally, EVNGENCO1 plans to mobilize around VND60 trillion ($2.28 billion) for new power generation projects during the 2026-2030 period.

On July 1, 2025, the new Lam Dong province was formed following the merger of the former Lam Dong, Binh Thuan and Dak Nong provinces. It is now home to Lien Khuong airport. The province borders Dak Lak, Dong Nai, Khanh Hoa, Ho Chi Minh City, Cambodia, and the East Sea.