Vietnamese firm plans $600 mln hydrogen investment in Mekong Delta

Ho Chi Minh City-based The Green Solutions is eyeing to invest $600 million in the first phase of a 500 MW green hydrogen factory in the Mekong Delta province of Bac Lieu.

Winnie Huynh, CEO and founder of the firm, delivered the proposal to Bac Lieu Chairman Pham Van Thieu at a Thursday meeting. She said the 50-hectare project will use wind power, a strength of Bac Lieu, as 90% of the input source for green hydrogen production.

In the first phase, the project's output will include 30,000 tons of green hydrogen, 182,500 tons of ammonia, and 195,000 tons of oxygen, with a daily input of 6,240 MWh of electricity and 3,000 cubic meters of water.

The company aims to deploy the project’s first phase in 2024-2027 and the second phase in 2027-2030. It has asked provincial authorities to help with the project’s progress, especially on location.

Provincial Chairman Pham Van Thieu said hydrogen was a core part of the province’s sustainable growth plan and asked relevant agencies to help with the project implementation. He urged the investor and relevant agencies to survey areas in Dong Hai district for the project.

In March 2023, The Green Solutions began constructing the first Vietnamese hydrogen plant in the Mekong Delta province of Tra Vinh with an estimated investment of VND8 trillion ($341 million).

The company expects to begin operations at the 21-hectare factory after two years, initially producing 24,000 tons of green hydrogen and 195,000 tons of oxygen a year, providing direct jobs for 300-500 local residents.

In August 2023, The Green Solutions and the Netherland’s Climate Fund Managers (CFM) entered into a strategic cooperation pact to promote the hydrogen industry in Vietnam.

In December 2023, at the COP28 in Dubai, The Green Solutions Group and Standard Chartered Bank signed a memorandum of understanding, marking commencement of a “groundbreaking” collaboration.

The agreement focuses on financial advisory and funding arrangements for the Tra Vinh Green Hydrogen Manufacturing Plant and other eligible projects in the country.