Vietnam public security ministry launches probe into 32 renewable energy projects
The Ministry of Public Security's investigative agency has requested state utility Vietnam Electricity (EVN) to provide information and documents related to 32 solar and wind power projects in the country.
The move aims to serve an investigation into the case of abusing positions and power while on duties that occurred at the Ministry of Industry and Trade and several provinces and cities.
The 450-megawatt Trung Nam-Thuan Nam solar power plant in Ninh Thuan province, south-central Vietnam. Photo courtesy of Trungnam Group.
The largest project in the list is the 450-megawatt Trung Nam-Thuan Nam solar power plant, invested by Trung Nam-Thuan Nam Solar Power Company Limited under Trungnam Group, in the south-central province of Ninh Thuan.
Others related to Trungnam Group include the 400-megawatt Ea Nam Dak Lak wind power plant in the Central Highlands province of Dak Lak and the 204-megawatt Trung Nam-Thuan Bac solar power plant in Ninh Thuan province.
Trungnam Group no longer holds control of the Trung Nam-Thuan Bac solar power plant after A Chau Industrial Technology Joint Stock Company (ACIT) acquired a 49% stake of the plant.
A Chau Renewable Energy Investment and Development Company Limited, a subsidiary of ACIT, was recently transferred an additional 18 million shares (or 18% of charter capital) of Trung Nam-Thuan Nam Solar Power Company Limited, the developer of the Trung Nam-Thuan Bac solar power plant project.
Thus, ACIT can record Trung Nam-Thuan Nam Solar Power Company Limited as a subsidiary, and Trungnam Group may lose control of this company.
Tan Hoan Cau Corporation has four wind power projects under investigation, namely Thanh Hai 5 (120 MW), Huong Hiep 1 (30 MW), Huong Linh 1 (30 MW), and Huong Linh 2 (30 MW).
The list also features wind power plants implemented by Gia Lai Electricity JSC (GEG) and its subsidiaries, including Tan Phu Dong 1 (100 MW), Tan Phu Dong 2 (50 MW), Ia Bang 1 (50 MW), and VPL Ben Tre (30 MW). GEG is a company with many connections with Thanh Thanh Cong Group.
EDP Renewables had two projects, namely the Xuan Thien-Thuan Bac solar power plant (256 MW) and the CMX Renewable Eneregy Vietnam wind power plant (168 MW). The first one was acquired by EDP Renewables from Xuan Thien Group.
The list also includes projects from Cao Nguyen 1 Wind Power Development Investment JSC, BB Group, HBRE Group, Tasco Energy, Ecotech Tra Vinh, BIM Energy, Thien Tan, Cuu An Wind Power JSC, and Bac Phuong Energy, among others.
- Related News
- Read More
Five Vietnam pilgrimage destinations perfect for spiritual seekers: Booking.com
Booking.com, the world's leading digital travel company, has suggested some destinations in Vietnam for those seeking spiritual enrichment and a chance for reflection and connection, including Ba Den mountain and Bai Dinh pagoda.
Travel - Sun, February 16, 2025 | 10:59 am GMT+7
Malaysia takes the lead in data center development
Malaysia is making efforts to align with the global trend towards digitalization, which is driving demand for data centers, cloud computing, blockchain, and artificial intelligence (AI).
Southeast Asia - Sun, February 16, 2025 | 10:57 am GMT+7
WB sees Thai fiscal risks mounting due to spending surge
Thailand’s pursuit of an expansionary fiscal policy strategy to propel growth faces the risk of rising costs for elderly care, investment and the need to keep public debt level to sustainable levels, according to the World Bank.
Southeast Asia - Sun, February 16, 2025 | 10:41 am GMT+7
Vietnam mining stocks rally amid global trade tension
Shares of Vietnam’s mining companies have rallied since early this month, fueled by heightened global trade tensions following the start of Donald Trump’s second term as the U.S. president.
Finance - Sun, February 16, 2025 | 10:36 am GMT+7
Online purchase below VND2 mln may be exempt from Vietnam import tax
The Vietnamese Ministry of Finance has proposed exempting goods purchased through e-commerce platforms worth no more than VND2 million ($78) from import tariff, with an annual purchase limit of VND96 million ($3,781).
Finance - Sun, February 16, 2025 | 8:00 am GMT+7
Malaysia expected to remain magnet for FDI
Malaysia’s foreign direct investment (FDI) is expected to remain robust in the long term, but there could be repercussions in the short term as investors hold back on their investment decisions amid heightened global uncertainties.
Southeast Asia - Sat, February 15, 2025 | 9:01 pm GMT+7
Laos to build $1.9 bln wind power plant to export electricity to Vietnam
The Lao Government and Chitchareune Construction - a Lao builder will jointly build the 1,200 MW Nong wind power plant, with an investment of $1.9 billion, to export electricity to Vietnam.
Energy - Sat, February 15, 2025 | 8:46 pm GMT+7
Malaysia needs more funding for semiconductor sector
Malaysia needs more funding for the implementation of the National Semiconductor Strategy (NSS) to enhance its competitiveness with neighboring countries, said Penang Chief Minister Chow Kon Yeow.
Southeast Asia - Sat, February 15, 2025 | 4:31 pm GMT+7
Thailand considers easing rules on income from overseas
Thailand’s government is considering easing personal income tax rules for individuals’ overseas income to encourage the remittance of those funds back into the country, said a senior official.
Southeast Asia - Sat, February 15, 2025 | 4:29 pm GMT+7
Nissan to close factory in Thailand
Japanese automaker Nissan has announced plans to close one of its two automobile factories in Thailand this year, following the collapse of merger talks with Honda.
Southeast Asia - Sat, February 15, 2025 | 4:10 pm GMT+7
Vietcombank leads Vietnamese banks in 2024 pre-tax profit
Vietcombank reported a pre-tax profit of VND42.2 trillion ($1.66 billion) last year, ranking as the most profitable Vietnamese lender, according to the Vietnam Banking Association (VNBA).
Banking - Sat, February 15, 2025 | 4:04 pm GMT+7
Vietnam's leading trade firm Hapro appoints new general director
Hanoi Trade Corporation (Hapro), a leading producer and exporter of agricultural produces in Vietnam, has appointed deputy general director Duong Thi Lam as general director, effective from March 1, 2025.
Companies - Sat, February 15, 2025 | 2:18 pm GMT+7
Private Vietnamese lender DongA Bank renamed Vikki Bank
DongA Bank, a private lender in Vietnam, has changed its name to Vikki Bank, with approval from the State Bank of Vietnam (SBV).
Banking - Sat, February 15, 2025 | 10:59 am GMT+7
Korea's SK Group seeks partnerships in LNG-fired power projects in Vietnam
South Korean chaebol SK Group seeks to jointly build LNG-fired power plants in Vietnam and then develop facilities utilizing electricity generated by those power plants.
Energy - Sat, February 15, 2025 | 9:26 am GMT+7
World’s largest shipping line MSC docks at southern Vietnam port
Phuoc An Port, the largest seaport in Dong Nai province, on Thursday welcomed the first ship from MSC, the world’s largest shipping line, opening up significant opportunities for boosting international trade in Vietnam’s southern region.
Economy - Sat, February 15, 2025 | 8:17 am GMT+7
Vietnamese chemical-pharmaceutical industry eyes yearly growth of 8-11% by 2045
Vietnam's chemical-pharmaceutical industry is expected to achieve an annual growth rate of 8-11% by 2045, according to a newly-approved program on the industry’s development until 2030, with a vision to 2045.
Southeast Asia - Fri, February 14, 2025 | 11:28 pm GMT+7
