Vingroup's energy arm VinEnergo named investor for $1.86 bln wind power project in central Vietnam

VinEnergo Energy JSC has been selected as the investor for the Hon Trau wind power plant phase 1 project in the central Vietnam province of Gia Lai, with a total investment exceeding VND48.37 trillion ($1.86 billion).

The Gia Lai Investment Promotion Center said the provincial People’s Committee has approved the results of the investor prequalification process for the project, under which VinEnergo met all requirements set out in the invitation for expressions of interest.

The decision marks VinEnergo’s second wind power project in Gia Lai. Previously, the company was approved as the investor for the Vinh Thuan wind power plant, a VND4.68 trillion ($180 million) project covering more than 50 hectares in Vinh Quang commune.

According to the approval, the Hon Trau wind power plant phase 1 will be developed across several communes and wards, including Phu My Dong, Phu My Bac, Phu My Tay, Binh Duong, Ngo May, Cat Tien, Tuy Phuoc Dong and Quy Nhon Dong.

The project will use nearly 50 hectares of land and sea area on a long-term basis, including more than 32 hectares of sea surface and around 17.6 hectares of land. An additional 13 hectares will be used temporarily for construction-related facilities such as access roads, equipment staging areas, and worker camps.

Two offshore turbine installation zones have been designated for the project: HT 1A in the waters off Phu My district (now Phu My Bac and Phu My Dong communes) and HT 1B in the waters off Phu Cat district (now Cat Tien commune).

The project has a designed capacity of 750 megawatts and is expected to generate around 2.8 billion kilowatt-hours of electricity per year. Total investment exceeds VND48.37 trillion ($1.86 billion), including more than VND48.34 trillion in construction and implementation costs and an estimated VND33 billion for compensation, support, and resettlement.

The wind farm is scheduled to be completed and put into operation by the fourth quarter of 2029 at the latest. However, the timeline may be adjusted in line with guidance from the Prime Minister regarding the national marine spatial planning framework and the master plan for sustainable exploitation and use of coastal resources for the 2021-2030 period, with a vision to 2050. The project will have an operating term of 50 years.

Under provincial regulations, the investor is not allowed to transfer the project or any ownership interests, including shares or capital contributions in the project company, without prior written approval from competent authorities. Any violation could lead to termination of the project without compensation.

Gia Lai’s Department of Finance said the province licensed 31 investment projects in January 2026, with total registered capital exceeding VND46.39 trillion ($1.79 billion).

Most of the projects are in the industrial sector, numbering 12, followed by construction and infrastructure with nine projects, and agriculture, forestry and fisheries with seven projects.

Notable investments include the 500-kilovolt Dung Quat-Binh Dinh transmission line, with an investment of more than VND9.89 trillion ($381 million), and the 500-kilovolt Binh Dinh-Krong Buk transmission line, worth over VND8.21 trillion, both developed by National Power Transmission Corporation (EVNNPT).

The province also attracted three wind power projects, including Van Canh 1, with an investment of more than VND6.9 trillion, and Van Canh 2, worth over VND7.77 trillion, both developed by Saigon-Bac Giang Industrial Park JSC, as well as the Vinh Thuan wind power project worth VND4.68 trillion, invested by VinEnergo.