Vingroup units, Idico sign strategic deal on clean energy, green transport
Four arms of Vingroup (HoSE: VIC) on Thursday signed a strategic cooperation agreement with major industrial park developer Idico, targeting clean energy supply and electrification of transport across the latter’s industrial zones.
Under the MoU, VinEnergo, Vingroup's energy arm, will supply renewable electricity to Idico’s industrial parks, with the partnership covering direct power purchase agreements (DPPA) combined with battery energy storage systems (BESS).
The two sides also plan to jointly invest in and operate retail electricity services to lower costs and improve grid reliability within the parks.
In transport, electric vehicle maker VinFast, EV charging firm V-Green, and EV ride-hailing service provider Xanh SM will work with Idico on a roadmap to shift to electric mobility.
VinFast will offer preferential financing to Idico and tenant companies switching to EVs, while Xanh SM will provide passenger and logistics services using electric cars and buses. Meanwhile, V-Green will invest in charging stations and battery-swapping facilities at Idico-operated sites.
Signing ceremony for a strategic MoU between Idico and VinEnergo, VinFast, V-Green, and Xanh SM in Ho Chi Minh City, December 25, 2025. Photo courtesy of VinFast.
“With more than 25 years of industrial infrastructure development, Idico aims to build modern, environmentally-friendly industrial parks that meet rising investor expectations,” Idico chairwoman Nguyen Nhu Mai said at the signing ceremony.
VinEnergo CEO Nguyen Anh Khoa said the partnership would help bring green energy and mobility solutions, including DPPA models and energy storage, into practical application at industrial parks, supporting Vietnam’s energy transition.
Idico currently operates 12 industrial parks nationwide, covering nearly 4,000 hectares, with a total investment of about $700 million. Its parks host nearly 400 foreign tenants with total registered capital of around $9 billion.
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