Vietnamese firm Pacific Group plans to invest $200 million in an industrial cluster in the Mekong Delta province of Ben Tre for the production of renewable energy equipment.
Pacific Group CEO Le Ngoc Anh Minh made the proposal at a Thursday meeting with Ben Tre Vice Chairman Nguyen Minh Canh.
The 50-hectare industrial cluster, named An Hoa Tay, is set to manufacture electrical components and wind power equipment for a Japanese company. The industrial cluster will also feature rooftop solar power and wastewater treatment systems to optimize the use of renewable energy and water resources.
The Ben Thanh branch of private lender VPBank has committed to providing credit of VND478.56 billion ($20.4 million) for the project, the executive added.
In reply, Canh asked the provincial Department of Industry and Trade to assist Pacific Group in completing project documents before taking next steps.
One day earlier, Vietnamese corporation Trungnam Group had a meeting with Vice Chairman Canh for a green hydrogen complex project in the province.
The first phase of the 106.45-hectare project will be a 400 MW green hydrogen factory, with a designed capacity of 45,000 tons a year, including 13,500 tons for commercial purposes.
The plant, to be located in Thanh Phu district, will electrolyze water with alkaline technolgoy, powered by wind and solar power generated on the project site and by other renewables projects.
In the second phase, the investor will build power sources for the project, while in the third phase it will construct a port to export products. The project will employ 500 people during operation and 5,000 during construction, according to the firm.
Boasting strong potential in renewable energy, Ben Tre plans to raise its renewable energy capacity to 1,500 MW with an annual output of 4.5 billion kWh by 2025, according to the provincial Department of Industry and Trade. Ben Tre’s energy sales reached 2.14 billion kWh in 2022, of which solar and wind power accounted for 14.6%.