Trungnam Group eyes green energy development in Ninh Thuan province

By Minh Hue
Wed, May 1, 2024 | 11:37 am GMT+7

Private Vietnamese conglomerate Trungnam Group plans to develop a green energy complex with an expected green hydrogen capacity of 824,400 tons per year in the south-central province of Ninh Thuan.

Trungnam Group’s green energy complex model in Ninh Thuan province, south-central Vietnam. Photo courtesy of the group.

Trungnam Group’s green energy complex model in Ninh Thuan province, south-central Vietnam. Photo courtesy of the group.

At a conference on green energy, green hydrogen and carbon neutral industrial parks organized by the provincial People's Committee, Nguyen Tam Tien, general director of the group, said Ninh Thuan is the only locality in Vietnam that meets the requirements for green hydrogen production.

Ninh Thuan has good solar radiation and wind power, he said, adding that the province is home to three pumped storage hydropower plants with a combined capacity of 1,200 megawatts, including Bac Ai, Phuoc Hoa, and Ninh Son.

Trungnam has researched solar and wind power development in combination with hydrogen production in the province. In addition, it also plans to invest in Ca Na Port, dedicated to hydrogen production,” he said.

However, Tien noted that the green energy complex model is facing many challenges, especially relating to the scale of the product. To help Vietnamese businesses to produce hydrogen, joint efforts are needed from government agencies, financial support units, and other enterprises to develop strategies for the model, he suggested.

According to the group, its green energy complex in Ninh Thuan will cover 4,247 hectares, including three component projects: the Ca Na green hydrogen plant, a renewable energy complex, and a liquid cargo export port complex.

The renewable energy complex will comprise an 8,000 MW offshore wind power plant, a 1,200 MW pumped storage hydropower plant, a 2,150 MW solar power plant, and a 300 MWh battery storage system.

The project's green hydrogen capacity is expected to reach 275,000 tons per year by 2030 and 824,400 tons by 2050.

Regarding solutions to develop green energy, green hydrogen and green industrial parks, the Trungnam leader mentioned policies on competitive energy trading floors, development policies from the government and local authorities, human resources training, and community support.

In early March 2024, Huadian Group, a Chinese state-owned enterprise, said it plans to cooperate with Vietnamese partner Minh Quang JSC on a $2.39 billion green hydrogen plant in the central province of Quang Tri.

The project will feature a 1,200 MW wind power plant, an 800 MW solar power plant and a water electrolysis plant for hydrogen production with supporting storage and transport facilities, the Chinese group said in its proposal delivered to local authorities.

In the same month, executives of SK Group, one of the largest chaebols in South Korea, told Vietnamese Prime Minister Pham Minh Chinh in a meeting that the company is interested in deploying new technologies to produce hydrogen and store carbon dioxide in Vietnam.

Also in March, in a meeting with Vietnamese Deputy Prime Minister Tran Hong Ha, Finland’s Wartsila Corporation said it is working with Vietnamese partners to consider implementating the first flexible power project in Vietnam, using liquefied natural gas (LNG) and then hydrogen, and supporting the integration of renewable energy into the power system.

One month later, Hanoi-based Minh Thach D&L Green Hydrogen JSC proposed the establishment of a green hydrogen-ammonia plant at the South Phu Yen Economic Zone in the south-central province of Phu Yen. The plant is expected to produce about 45,000-55,000 tons of hydrogen and 250,000-300,000 tons of ammonia per year, using alkaline water electrolysis technology and Topsoe ammonia synthesis technology.

Comments (0)
  • Read More
Vietnam's stock market regulator appoints 2 new vice chairpersons

Vietnam's stock market regulator appoints 2 new vice chairpersons

The State Securities Commission of Vietnam (SSC) has appointed Nguyen Hoang Duong and Le Thi Viet Nga as its new vice chairpersons.

Finance - Thu, October 23, 2025 | 4:14 pm GMT+7

Vinhomes chairman appointed CEO of VinSpeed

Vinhomes chairman appointed CEO of VinSpeed

Pham Thieu Hoa, chairman of Vinhomes, has been appointed CEO of VinSpeed, a newly established company specializing in railway construction.

Companies - Thu, October 23, 2025 | 3:40 pm GMT+7

De Heus, Hung Nhon to invest $380 mln in high-tech agriculture hub in southern Vietnam

De Heus, Hung Nhon to invest $380 mln in high-tech agriculture hub in southern Vietnam

Dutch agribusiness group Royal De Heus and Vietnam’s Hung Nhon Group plan to invest VND10 trillion ($380 million) to develop a high-tech agricultural ecosystem in Tay Ninh province between 2025 and 2030.

Industries - Thu, October 23, 2025 | 2:35 pm GMT+7

Consumer finance major F88’s credit rating upgraded on improved funding capability, liquidity

Consumer finance major F88’s credit rating upgraded on improved funding capability, liquidity

Vietnamese credit ratings agency FiinRatings has upgraded F88's credit rating from “BBB-” to “BBB”, with a “stable” outlook, citing the company's enhanced capital-raising ability and improved liquidity position.

Companies - Thu, October 23, 2025 | 2:00 pm GMT+7

Vietnam's benchmark VN-Index could surpass 2,000 points in 2026: exec

Vietnam's benchmark VN-Index could surpass 2,000 points in 2026: exec

VN-Index could top 2,000 points next year, said Huynh Minh Tuan, founder of FIDT - a Ho Chi Minh City-based investment consulting firm.

Finance - Thu, October 23, 2025 | 10:55 am GMT+7

Key factors helping firms export to demanding markets: DH Foods exec

Key factors helping firms export to demanding markets: DH Foods exec

Don’t treat business as a week-to-week or month-to-month affair. To go the distance, you must conduct business ethically, writes Nguyen Trung Dung, CEO of DH Foods.

Consulting - Thu, October 23, 2025 | 8:00 am GMT+7

Gold exchange, gold derivatives, gold ETFs proposed to be launched in Vietnam

Gold exchange, gold derivatives, gold ETFs proposed to be launched in Vietnam

Forming a gold exchange under state management in Vietnam is suitable to the reality, said Dao Xuan Tuan, head of the foreign exchange management department under the State Bank of Vietnam (SBV).

Finance - Wed, October 22, 2025 | 9:00 pm GMT+7

Real estate major Novaland wins key approval for $5 bln project in central Vietnam

Real estate major Novaland wins key approval for $5 bln project in central Vietnam

Novaland Group (HoSE: NVL), one of Vietnam’s leading property developers, has received investment approval for its flagship project worth $5 billion in the central province of Lam Dong after years of delay due to legal obstacles.

Real Estate - Wed, October 22, 2025 | 4:20 pm GMT+7

Vietnam's plastics heavyweights Tien Phong, Binh Minh report profit surges

Vietnam's plastics heavyweights Tien Phong, Binh Minh report profit surges

Tien Phong Plastic (HNX: NTP) recorded pre-tax profit of nearly VND949 billion ($36.04 million) in the first nine months of the year, exceeding its full-year target by 10.85%, while Binh Minh Plastic (HoSE: BMP) achieved record net profit of VND350 billion ($13.29 million) in Q3, surpassing its VND330 billion milestone set in the previous quarter.

Companies - Wed, October 22, 2025 | 4:17 pm GMT+7

Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships

Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships

A series of cooperation agreements were signed between Vietnam and Finland on Tuesday, within the framework of Party chief To Lam's official visit to Helsinki, while bilateral relationship was lifted to a "strategic partnership".

Economy - Wed, October 22, 2025 | 12:43 pm GMT+7

Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam

Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam

Industrial park developer Trung Nam Ca Na is seeking approval to convert about 170 hectares of agricultural and forest land for the construction of a VND3,875 billion ($147 million) project in Vietnam’s central coastal province of Khanh Hoa.

Industrial real estate - Wed, October 22, 2025 | 10:54 am GMT+7

PV Power's arm posts 5-fold jump in Q3 profit on margin recovery

PV Power's arm posts 5-fold jump in Q3 profit on margin recovery

PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.

Companies - Wed, October 22, 2025 | 8:37 am GMT+7

TCBS overtakes SSI to become Vietnam’s largest securities company by market cap

TCBS overtakes SSI to become Vietnam’s largest securities company by market cap

Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.

Finance - Tue, October 21, 2025 | 10:27 pm GMT+7

Indonesia’s palm oil industry becomes investment magnet

Indonesia’s palm oil industry becomes investment magnet

Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.

Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7

Indonesia reports strong job, investment growth

Indonesia reports strong job, investment growth

The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.

Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7

Singapore grants conditional approval for 1GW low-carbon power import from Malaysia

Singapore grants conditional approval for 1GW low-carbon power import from Malaysia

Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.

Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7