Provinces with strong wind power potential are accelerating efforts to attract investors to register and implement projects in this field. (Photo: Nguyen Van Cuong)

Rushing to attract investment

On October 21, 2025, the Gia Lai Department of Finance announced a list of three wind power plant projects with a total investment of VND 19.354 trillion, including: Vinh Thuan Wind Power Plant (total investment of VND 4.679 trillion, capacity 143MW); Van Canh 1 Wind Power Plant (over VND 6.904 trillion, 160MW); and Van Canh 2 Wind Power Plant (over VND 7.771 trillion, 180MW). All three projects were approved by the Gia Lai Provincial People’s Committee on October 14, 2025, to supply clean electricity from renewable sources to the national power grid, ensuring sufficient power for the province’s socio-economic development. According to the announcement, all three projects will select investors through a competitive bidding process.

According to the Quang Tri Department of Industry and Trade, in April and July 2025, the department announced a list of several additional wind power projects, including Phuc Thanh An Vinh Phuc Wind Power Plant (nearly VND 1.278 trillion, capacity 30MW); Phuc Thanh An Quang Tri Wind Power Plant (approximately VND 1.704 trillion, 48MW); and Tan Thanh Long Wind Power Plant (over VND 1.809 trillion, 48MW), among others. All of these projects will select investors through a competitive bidding process. As of now, many projects have already identified their investors.

In early October 2025, the Ha Tinh Department of Industry and Trade called for investors to submit proposals for two large-scale projects: Eco Ky Anh Wind Power Plant (VND 22.647 trillion, 498MW) and Ky Anh Wind Power Plant (VND 17.051 trillion, 400MW), both of which will also select investors via bidding.

Other provinces with strong renewable energy potential, such as Bac Kan, Ca Mau, and Vinh Long, have also accelerated the publication of project lists and investor selection processes for renewable energy development.

During a meeting with the Lam Dong Provincial People’s Committee on October 22, representatives of EVNGENCO1 (Power Generation Corporation No.1) proposed investment in four renewable energy projects, including: Dai Ninh Floating Solar Power Plant (96MW, VND 1.607 trillion), Ham Thuan Floating Solar Power Plant – Phase 1 (100MW, VND 1.638 trillion), Da Mi Floating Solar Power Plant – Phase 2 (70MW, VND 1.149 trillion), and Don Duong Pumped Storage Hydropower Plant (1,200MW, over VND 29.5 trillion). EVNGENCO1 has completed its investment proposals and submitted them to the Lam Dong Provincial People’s Committee for consideration.

Vietnam’s share of wind, solar, and biomass power has tripled from 5% in 2020 to 15% in 2025. (Photo: Nguyen Văn Cuong)

Positive signs

At the Policy Forum on Prioritizing Sustainable Energy Infrastructure Development held on October 23, 2025, Mr. Nguyen Manh Son, representative of the Department of Financial and Sectoral Economics, Ministry of Finance, noted that renewable energy in Vietnam has made remarkable progress. The share of wind, solar, and biomass power in the national generation mix has tripled over the past five years — from 5% in 2020 to 15% in 2025.

According to MBS analysts, several listed companies are actively participating in bidding and implementing new renewable energy projects, including Gia Lai Electricity JSC (GEG), Refrigeration Electrical Engineering Corporation (REE), and Ha Do Group JSC (HDG).

Recently, REE Corporation’s Board of Directors approved the establishment of two subsidiaries - REE Duyen Hai 2 Wind Power Co., Ltd. and REE Duyen Hai 3 Wind Power Co., Ltd. - to develop two wind power projects: V1-5 (VND 2.257 trillion) and V1-6 Phase 2 (VND 3.864 trillion).

Earlier, in Ca Mau Province, Ca Mau Renewable Energy Investment JSC held a groundbreaking ceremony for the Tan Thuan Wind Power Plant – Phase 3.

Translator: Thu Hường