Vietnam’s army-backed construction firm proposes 14 offshore wind power projects

Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.

The proposals are currently under review by relevant ministries and agencies, according to Dau tu (Investment) newspaper, a media entity under the Ministry of Finance.

The proposed projects reportedly include Bac Bo 3.1, 8, 2.1, 3.2, 6, 5, and 4; Nam Trung Bo 2.1, 2.2, 1.4, and 1.3; and Nam Bo 1, 2, and 3.

Bac Bo 3.1, with a planned capacity of 500 MW, will be located in the offshore area of the Gulf of Tonkin, within the territorial waters of Quang Ninh province.

Electricity from the project will be transmitted onshore via a submarine cable. The project has a total estimated investment of over VND53.7 trillion ($4.05 billion), with 80% to come from commercial loans and other legal sources. The project is expected to commence operation in Q4/2030.

Bac Bo 8, with a designed capacity of 1,000 MW, is also planned to be implemented in the offshore area of the Gulf of Tonkin, in Quang Ninh province. It will include a submarine cable system to deliver electricity onshore.

The total investment is estimated at VND102.56 trillion ($3.9 billion), of which 80% to be raised from commercial loans and other legal sources. The project is scheduled to become operational in Q1/2034.

Bac Bo 2.1 has a planned capacity of 500 MW and will be developed in the offshore area of the Gulf of Tonkin, within the waters of Hai Phong city.

Electricity will be transmitted to shore via a submarine cable. The total estimated investment is VND55.16 trillion ($2.1 billion), with 80% expected to come from commercial loans and other legal sources. The project is targeted to start operation in Q4/2030.

Bac Bo 3.2 has a designed capacity of 500 MW. It will be developed in the offshore area of the Gulf of Tonkin, within the waters of Quang Ninh province, with electricity transmitted to shore via a submarine cable.

The total investment is estimated at VND52.82 trillion ($2.02 billion), with 80% to be sourced from commercial loans and other legal sources. The project is scheduled to become operational in Q1/2034.

Bac Bo 6 has a designed capacity of 1,000 MW. It will be located offshore in the Gulf of Tonkin, within the waters of Hai Phong city, with a submarine cable connecting the project to the mainland.

The total estimated investment is VND110.13 trillion ($4.2 billion), and 80% of which will be mobilized through commercial loans and other legal sources. It is planned to become operational by Q1/2034.

Bac Bo 5 has a planned capacity of 1,000 MW. It will be developed offshore in Hai Phong city, with electricity transmitted to shore via a submarine cable.

The total investment is estimated at VND107.8 trillion ($4.11 billion), with 80% to be sourced from commercial loans and legal funding sources. The project is expected to begin operation in Q1/2034.

Bac Bo 4 is also expected to have a capacity of 1,000 MW. It will be implemented in the offshore area of the Gulf of Tonkin, in the waters of Hai Phong city, and will transmit electricity onshore via a submarine cable.

The project’s total investment is estimated at VND107.53 trillion ($4.1 billion), with 80% to come from commercial loans and other legal sources. It is scheduled to begin commercial operation in Q1/2034.

Nam Trung Bo 2.1, with a designed capacity of 500 MW, will be located offshore along the south-central coast of Vietnam, in the waters off former Binh Thuan province (now Lam Dong province after an administrative merger).

Power will be transmitted to shore via a submarine cable. The total investment is estimated at VND53.3 trillion ($2.03 billion), with 80% to be sourced from commercial loans and other legal sources. The project is set to be operational by Q4/2030.

Nam Trung Bo 2.2 has a planned capacity of 500 MW. It will be located offshore along the south-central coast of Vietnam, in the waters off former Binh Thuan province (now Lam Dong).

Electricity will be transmitted to shore via a submarine cable. It has a total estimated investment of VND52.33 trillion ($2 billion), with 80% to come from commercial loans and other legal sources. The project is scheduled to become operational in Q1/2034.

Nam Trung Bo 1.4, also with a capacity of 500 MW, will be located offshore along the south-central coast, in the waters off former Binh Thuan province (now Lam Dong).

Electricity will be brought to shore via a submarine cable. The total investment is approximately VND52.86 trillion, with 80% expected from commercial loans and other legal sources. It is set to begin operation in Q1/2034.

Nam Bo 1 has a planned capacity of 500 MW. The project site is offshore in the south of Vietnam, in the sea area of former Ba Ria-Vung Tau province (now part of the new Ho Chi Minh City after an administrative merger).

Electricity will be brought ashore through a submarine cable. The total investment is estimated at VND53.81 trillion, with 80% to be raised through commercial loans and other legal sources. The project is projected to begin operation in Q4/2030.

Nam Trung Bo 1.3 has a designed capacity of 500 MW and is located offshore along the south-central coast in former Binh Thuan province (now Lam Dong). Electricity will be transmitted to shore via submarine cables.

The total estimated investment is more than VND53 trillion ($2.02 billion). The investor plans to raise 80% of the capital from commercial loans and other legal sources. The project is expected to go into operation in Q4/2030.

Nam Bo 3, with a capacity of 500 MW, will be located offshore in the south of Vietnam, in the waters off former Tra Vinh province (now Vinh Long province after an administrative merger).

Electricity will be brought to shore via submarine cables. The total investment is around VND50.1 trillion ($1.91 billion), with 80% to come from commercial loans and other legal sources. The project is set to become operational in Q4/2030.

Nam Bo 2 also has a planned capacity of 500 MW. It will be located offshore in the south of Vietnam, in the waters off former Ben Tre province (now Vinh Long province).

Electricity will be transmitted to shore via submarine cables. The total investment is estimated at VND50.1 trillion, with 80% expected from commercial loans and other legal sources. The project is planned to begin operation in Q4/2030.

Vietnam currently has no offshore wind power projects. According to the Adjusted PDP VIII, the country aims to have 6,000 MW of offshore wind capacity by 2030, 17,500 MW by 2035, and between 113,000 and 139,000 MW by 2050.