Two investors propose $65 mln wind power project in central Vietnam

A consortium of Quang Tri Renewable Energy Investment JSC and Win Power Holding Pte Ltd, and Nam Binh Wind Power JSC have submitted an application to implement a 48-megawatt wind power plant in the central province of Quang Tri.

The Quang Tri Win 3 wind power plant project, with total investment capital of over VND1.69 trillion ($64.6 million), will be carried out in Tan Hop and Huc communes, Huong Hoa district.

It includes wind turbine towers, internal roads, an operation building, and auxiliary works.

The implementation period is about 22 months from the date of investor selection approval in accordance with bidding regulations. Construction is expected to begin in Q1/2026 and be completed by Q1/2027.

The consortium is led by Quang Tri Renewable Energy Investment JSC, which was established in 2019 in Hanoi with a charter capital of VND2.3 billion ($88,400), chaired by Trinh Hong Quan.

In November 2020, the company underwent shareholder restructuring when a foreign investor - the Hanoi-based Win Energy Development JSC - acquired 99.13% of the charter capital (VND2.28 billion).

Win Energy was founded in 2018, with its main business being electrical system installation. The company initially had a charter capital of VND6.6 billion ($253,636) and three founding shareholders: ASEAN Energy Development Co., Ltd. (98%), Tuong Han Co., Ltd. (1%), and Nghiem Thi Hoan (1%).

After several changes, as of January 2024, Win Energy’s charter capital had increased to VND97.4 billion ($3.74 million), with ASEAN Energy Development Co., Ltd. holding 99.692%.

Currently, ASEAN Energy Development Co., Ltd. is also the largest shareholder of Quang Tri Renewable Energy Investment JSC, holding a 43% stake.

Its chairman Trinh Hong Quan is the authorized representative of the foreign shareholders' capital contributions.

ASEAN Energy Development Co., Ltd., was established in 2017 in Hanoi. It is directed by Duan Yongbin from China and primarily operates in the energy sector. Initially, the company had a charter capital of VND20 million ($768).

By September 2024, the company had increased its charter capital to over VND377.57 billion ($14.5 million), fully funded by foreign capital. Duan Yongbin was authorized to represent this foreign capital contribution.

Meanwhile, Nam Binh Wind Power JSC was established in 2020 in the Central Highlands province of Dak Nong, with Le Van Danh from Hanoi serving as director.

It is currently the investor in the Nam Binh 1 Wind Power Plant in Dak Nong, which has a capacity of 30 MW and a total investment of over VND1.2 trillion ($46.12 million).