Germany PNE’s 2 GW project in Vietnam redefined as 'nearshore' wind power
German renewable energy developer Pure New Energy's (PNE) $4.6 billion Hon Trau wind power project in Vietnam’s south-central province of Binh Dinh is classified as a nearshore wind power project.
Ho Quoc Dung, chief of Binh Dinh's Party Committee, made the statement at a Wednesday meeting with PNE. Binh Dinh province is committed to helping PNE in solving issues and deploying the project, he added.
As the project is now a nearshore wind power project, its feasibility is “very likely” to be endorsed as the Ministry of Industry and Trade will soon allocate wind power quota to Binh Dinh, Dung highlighted.
Ho Quoc Dung (right, second), chief of Binh Din's Party Committee, and PNE CEO Heiko Wuttke (left, second) at a meeting in Binh Dinh province, central Vietnam on March 5, 2025. Photo courtesy of Binh Dinh news portal.
For his part, Binh Dinh Chairman Pham Anh Tuan clarified that Hon Trau project was originally classified as an offshore wind power project. But the updated legal framework per the Electricity Law 2024 classified it as a nearshore one. This change will speed up the project implementation, he noted.
Binh Dinh had already suggested the trade ministry and the Prime Minister add Hon Trau project’s first phase of 750 MW to the amended Power development plan VIII (PDP VIII). The amendments are subject to approval this month, Tuan affirmed.
In reply, PNE CEO Heiko Wuttke said he expects the wind power quota, to be allocated to Binh Dinh and featuring both nearshore and land-based power, will include a portion for PNE project. PNE strives to cooperate with Binh Dinh authorities to deploy the project “as soon as possible,” he emphasized.
PNE started studying the $4.6 billion Hon Trau offshore wind power project in Vietnam in 2019. In November 2022, the company and the central coastal province of Binh Dinh signed a memorandum of understanding to deploy the project.
According to PNE, the project will be executed on Hon Trau island, 10 kilometers off the coast of De Gi estuary. The project is designed to have a capacity of 2,000 MW and be implemented in three phases. Some 50 turbines are slated to be installed in each phase.
- Related News
- Read More
Vietnam PM asks US firms to sustain support for 'reasonable, detailed tariff pact'
Prime Minister Pham Minh Chinh has called on U.S. businesses to continue supporting the Vietnamese government in dialogues with U.S. agencies to soon reach "a reasonable, detailed tariff agreement for individual products and product groups".
Economy - Sat, July 12, 2025 | 11:32 am GMT+7
Mergers of Vietnamese provinces unlock new property development opportunities
The merging of Vietnamese localities is expected to create a strong "boost" for the real estate market as expanded planning space, synchronized infrastructure, and new land reserves are key factors driving the market's transformation.
Real Estate - Sat, July 12, 2025 | 11:00 am GMT+7
Measures proposed for Thailand to minimize US tariff impacts
Financial and banking experts in Thailand have warned that the U.S.'s proposed 36% tariff on Thai goods is likely to severely undermine Thailand's export competitiveness.
Southeast Asia - Sat, July 12, 2025 | 9:06 am GMT+7
Chinese construction major PCG eyes $383 mln underwater tunnel project in northern Vietnam
Pacific Construction Group (PCG), one of China’s leading construction firms, has expressed interest in developing a VND10 trillion ($383 million) underwater road tunnel in Quang Ninh, a coastal province in northern Vietnam.
Infrastructure - Sat, July 12, 2025 | 8:04 am GMT+7
Vingroup stocks pull VN-Index up for sixth consecutive session
VN-Index, which represents the Ho Chi Minh Stock Exchange, on Friday increased for the sixth consecutive session thanks to large-cap stocks, with foreign investors continuing to strongly net buy.
Finance - Fri, July 11, 2025 | 7:20 pm GMT+7
Coca-Cola inaugurates largest-scale Vietnam factory in Tay Ninh province
Coca-Cola Beverages Vietnam on Friday inaugurated a $136 million factory in Tay Ninh province, the largest-scale among its four facilities in Vietnam.
Industries - Fri, July 11, 2025 | 5:27 pm GMT+7
Vietnam halts use of German ODA loans for HCMC metro line
The Government has approved a proposal by Ho Chi Minh City to stop borrowing official development assistance (ODA) loans from Germany’s KfW development bank for Metro Line No. 2 and instead use domestic funds to avoid further delays.
Economy - Fri, July 11, 2025 | 3:25 pm GMT+7
Seventeen housing projects foreigners allowed to buy in HCMC
Ho Chi Minh City has announced a list of 17 residential projects located in areas where foreign organizations and individuals are allowed to own houses.
Real Estate - Fri, July 11, 2025 | 3:17 pm GMT+7
Auto enterprises to enjoy preferential import tariff policies
The Government has issued a decree amending and supplementing Decree No. 26/2023/ND-CP on the export and preferential import tariff schedules, as well as the lists of goods subject to absolute tax, mixed tax, and out-of-quota import duties.
Companies - Fri, July 11, 2025 | 2:13 pm GMT+7
Korean chaebol Samsung’s revenue makes up 13% of Vietnam’s GDP in 2024
Samsung’s revenue and export in Vietnam accounted for approximately 13.12% of the country’s GDP and 13.4% of its total export turnover in 2024, respectively, according to the National Statistics Office.
Companies - Fri, July 11, 2025 | 2:09 pm GMT+7
JPMorgan upgrades Vietnam stocks to overweight following US tariff deal
JPMorgan Chase has upgraded Vietnam stocks to overweight after the country became the first Southeast Asian nation to reach a preliminary tariff deal with the U.S.
Economy - Fri, July 11, 2025 | 11:38 am GMT+7
Vietnam government bond issuance surges nearly 70% in June
The Hanoi Stock Exchange (HNX) held 16 government bond auctions in June, raising nearly VND30.5 trillion ($1.2 billion), up 68.8% from May.
Finance - Fri, July 11, 2025 | 9:30 am GMT+7
Xuan Truong Company asked to make feasibility study for airport proposal in northern Vietnam
The Ministry of Construction has asked Ninh Binh authorities to prepare a feasibility study on the potential development of an international airport in the province, the ministry said in a report submitted to the Government regarding a proposal from private construction company Xuan Truong.
Companies - Fri, July 11, 2025 | 9:18 am GMT+7
Vietnam-US tariff agreement: A strategic turning point toward deeper integration
The tariff agreement between Vietnam and the U.S. marks not only a trade or diplomatic breakthrough but also reflects a long-term strategic vision, bold foreign policy, and Vietnam’s commitment to deep global integration, writes Nguyen Tuan Viet, an export promotion expert and CEO of Vietgo.
Opinion - Fri, July 11, 2025 | 9:00 am GMT+7
Apple supplier Luxshare enjoys 0% corporate income tax in central Vietnam province
China’s Luxshare-ICT, a key supplier to Apple, reported that its subsidiaries in Vietnam’s central province of Nghe An enjoyed a 0% corporate income tax last year.
Companies - Fri, July 11, 2025 | 8:00 am GMT+7
Intel’s 20 years in Vietnam: $1.5 bln invested, 4 bln chips produced
U.S. chip maker Intel has invested over $1.5 billion in its nearly 20 years in Vietnam and exported more than 4 billion products, contributing over $100 billion to Vietnam’s export revenue.
Industries - Thu, July 10, 2025 | 10:05 pm GMT+7
