EVNGENCO1 is planning to expand its renewable energy portfolio with three new floating solar power projects in Lam Dong province, Vietnam. The projects are expected to require an investment of around VND4.4 trillion, equivalent to nearly $167 million. Through this move, the company aims to strengthen the country’s clean energy supply while supporting Vietnam’s long-term carbon reduction and net-zero emission goals.
The proposed floating solar projects will have a combined generation capacity of nearly 270 MW. The development plan includes a 96 MW floating solar plant on the Dai Ninh reservoir, a 100 MW first-phase project on the Ham Thuan reservoir, and an additional 70 MW expansion project on the Da Mi reservoir. These projects will be developed on existing hydropower reservoirs, allowing the company to use water surfaces for electricity generation instead of acquiring additional land.
Floating solar technology is increasingly being adopted in several countries because it helps optimize unused reservoir space while also reducing water evaporation. For EVNGENCO1, the integration of solar energy with hydropower infrastructure is considered an efficient solution to improve renewable power generation capacity. By combining hydropower and solar generation, the company can provide a more stable electricity supply to the national grid.
Lam Dong province has emerged as a suitable location for such renewable projects due to its favorable weather conditions and strong hydropower network. EVNGENCO1 already operates several hydropower plants in the region with a total installed capacity of more than 1,600 MW. The company also has prior experience in floating solar development. In 2019, it commissioned the 47.5 MW Da Mi floating solar plant, which became the first floating solar facility in Vietnam. The project successfully demonstrated the feasibility of integrating solar power with existing hydropower systems.
The company is also preparing for broader investments in renewable and sustainable energy technologies over the coming years. Between 2026 and 2030, EVNGENCO1 plans to mobilize nearly $2.28 billion for new energy projects. Apart from floating solar installations, the company is exploring opportunities in wind energy, biomass power, and pumped-storage hydropower projects.
Vietnam’s growing industrial sector and increasing electricity demand are driving the need for reliable and cleaner energy solutions. Through these planned investments, EVNGENCO1 is seeking to improve national energy security while contributing to environmental sustainability and the transition toward greener power generation.
