Singapore-backed giant to break ground on $216 mln wind farm project in central Vietnam

Nexif Ratch Energy SE Asia Pte. Ltd has committed to begin construction of its wind power project in Gia Lai in November this year, significantly earlier than the previously approved schedule of Q1/2027, as the central province pushes ahead with renewable energy development under the country's adjusted Power Development Plan VIII.

The over VND5.7 trillion ($216.5 million) Van Canh Binh Dinh Wind Power Plant project, located in Canh Lien commune, will have an installed capacity of 143 MW. It is expected to generate approximately 391.8 million kWh of electricity annually.

Nexif Ratch Energy, headquartered in Singapore, was established in December 2022 as a joint venture between Singapore-based Nexif Energy, which holds a 51% stake, and Thailand's RATCH Group, which owns the remaining 49%.

The company develops, acquires, builds and operates renewable energy projects across the Asia-Pacific region, with regional offices in Vietnam and the Philippines in addition to its Singapore headquarters.

Cyril Thibaut Ioan Dissescou, CEO of Nexif Ratch Energy SE Asia, previously told The Investor that the Van Canh Binh Dinh project is one of the company's strategic investments in Vietnam and said the firm was committed to ensuring its successful implementation.

In Vietnam, Nexif Ratch Energy currently operates the 30-MW Minh Luong hydropower plant in Lao Cai province and the 49-MW Song Giang hydropower complex in Khanh Hoa province. It is also constructing the 80-MW Nexif Energy Ben Tre wind power project.

The company has additionally signed an MoU with authorities in Khanh Hoa province to study the development of the 102-MW Nexif Energy Khanh Hoa 1 wind farm.

Nearly 3,000 MW of power projects set for construction

The Nexif Ratch project is part of a broader wave of energy investments accelerating across Gia Lai.

According to commitments made by investors to provincial authorities, renewable energy projects scheduled to break ground in 2026 will have a combined capacity of approximately 2,971.6 MW, including wind, solar and hydropower developments.

October is expected to be the busiest month, with 29 projects slated to begin construction, including 17 wind farms, seven solar projects and five hydropower plants. Four additional projects are scheduled for September and five for November.

Among the largest projects is the 750-MW Hon Trau Wind Power Plant Phase 1, developed by VinEnergo Energy JSC, which is scheduled to start construction in December 2026. The developer has committed to bringing forward the start date by around six months from the previously approved timeline of Q3/2027.

The solar power segment includes 10 projects with a combined capacity of 751.8 MW.

Notable among them is the 400-MW KN Ia Ly-Gia Lai solar power plant, which is scheduled to begin construction in November 2026. Although the project remains behind the original target of Q2/2026, investors have pledged to accelerate implementation.

Several other solar projects, including Phu Thien (32 MW), Chu Ngoc-EVNLICOGI 16 Phase 2 (20 MW), Ia Blu 3 (40 MW), Ia Blu 4 (40 MW), Nhon Hoa 1 (49 MW) and Nhon Hoa 2 (90 MW), have also committed to earlier construction schedules.

Wind power remains the dominant segment, accounting for around 2,150 MW of planned capacity across 24 projects.

Several projects have pledged to start construction months ahead of approved timelines.

The 50-MW Ia Boong-Chu Prong Wind Power Plant, for example, was initially approved for groundbreaking in Q2/2027 but is now expected to start construction in November 2026. The 143-MW Vinh Thuan Wind Power Plant has similarly moved its planned start date forward from Q1/2027 to October 2026.

In addition to renewable energy projects, five hydropower developments with a combined capacity of nearly 70 MW are scheduled to begin construction in October 2026. These include the Se San 4A Expansion (29 MW), Dak Ayuonh (12 MW), Lo Pang (6.5 MW), Krong Ja Taun (5.5 MW), and Ayun 2 (16.8 MW) projects.

Gia Lai is widely regarded as one of Vietnam's most promising provinces for renewable energy development.

Following the government's approval of the adjusted Power Development Plan VIII, local authorities have accelerated investment approval procedures and sought to facilitate project implementation.

However, provincial officials said several projects that had already received investment approval have experienced delays, with investors failing to proactively coordinate with relevant agencies to resolve administrative and regulatory obstacles.

To address the issue, Gia Lai authorities have urged investors to expedite outstanding procedures and ensure all conditions for construction are met in line with their committed timelines.

Binh Dinh and Gia Lai provinces were merged last July to form the new Gia Lai which borders Dak Lak, Quang Ngai, Cambodia, and the East Sea.