Vingroup Proposes $25-30 Billion Renewable Energy Projects for Vietnam’s Power Development Plan

Vingroup has submitted a proposal to integrate large-scale renewable energy and liquefied natural gas (LNG) power projects into the revised Power Development Plan VIII, with an estimated investment of $25-30 billion.

In a document addressed to Prime Minister and Deputy Prime Minister Bui Thanh Son, Vingroup outlined its research and collaboration with local authorities and the Ministry of Industry and Trade to ensure the projects align with national energy strategies. The initiative follows directives from the Government Office under Notice No. 63, dated February 26.

The proposal focuses on renewable energy development, aiming to deploy 47,500 MW between 2025 and 2035. The first phase, from 2025 to 2030, targets 20,500 MW with an estimated investment of $20-25 billion. These projects prioritize locations with high wind and solar potential, ensuring efficiency in power capacity distribution.

Additionally, Vingroup has proposed an LNG power plant in Hai Phong, with a capacity of 5,000 MW and an investment of $5.5 billion, to offset delays in several thermal power projects.

Vingroup has committed to delivering 25,500 MW of renewable and LNG power capacity between 2025 and 2030, with the remaining 27,000 MW scheduled for 2031-2035. The company aims to establish large-scale energy hubs that optimize production efficiency while aligning with Vietnam’s clean energy transition.