In a significant move towards renewable energy, the province of Trà Vinh has approved the investment of five wind power plant projects, totaling over 13,830 billion VND. This decision marks a pivotal step in the region's commitment to enhancing its energy infrastructure and sustainability efforts.
The approved projects include the Wind Power Plant V1-5 and V1-6, located in Hiep Thanh commune of Duyen Hai town, which will boast a combined capacity of 80 MW, with an investment of 3,864 billion VND. Additionally, the Wind Power Plant V1-2, an expansion project in Truong Long Hoa commune, will feature a capacity of 48 MW and an investment of 2,392.59 billion VND. Another project, Wind Power Plant V1-3 Phase 2, also in Truong Long Hoa, will have a capacity of 48 MW and an investment of 2,257 billion VND.
Furthermore, the Dong Hai 3 Wind Power Plant, located in Dong Hai commune of Duyen Hai district, is set to have a capacity of 48 MW with an investment of 2,771 billion VND. Lastly, the Wind Power Plant V1-1 Trà Vinh Phase 2, also in Truong Long Hoa commune, will feature a capacity of 48 MW and an investment of 2,546 billion VND.
According to Nguyễn Văn Phương, the Director of the Trà Vinh Department of Finance, the V1-1 Trà Vinh Phase 2 project is scheduled for implementation from 2023 to 2025, while the other projects are expected to be operational by the fourth quarter of 2026. This strategic investment is designed to boost the province's renewable energy capacity, which currently stands at 322 MW from five operational wind power projects connected to the national grid.
In addition to these new projects, Trà Vinh is actively constructing four additional wind power projects with a total capacity of 344 MW, aiming for completion and operational status by 2025. The province also hosts a solar power project with a capacity of 140 MW that is already in commercial operation, along with a biomass project of 25 MW currently underway.
The Duyen Hai Power Center, located in Dan Thanh commune, is another critical component of Trà Vinh's energy landscape, featuring four plants with a combined designed capacity of nearly 4,500 MW. Among these, the Duyen Hai Thermal Power Company, part of the Vietnam Electricity Group (EVN), manages three plants: Duyen Hai 1, Duyen Hai 3, and the expanded Duyen Hai 3, collectively generating over 20 billion kWh annually.
In a related development, the owner of Tay Nguyen Wind Farm (Phase 1) has made headlines by unexpectedly repurchasing a bond lot of 1,000 billion VND less than three months after its issuance. On March 25, 2025, the Renewable Energy Company announced that it had completed the early repurchase of the bonds on March 20, 2025. This bond, which was the company's only issuance, had been released on December 24, 2024, with a term of 12 months and an interest rate of 11% per year.
The swift repurchase of the bond, which was initially planned to mature on December 24, 2025, occurred nine months ahead of schedule. The bond code is RECCH2425001, and it is secured by assets including five million shares of BT Distribution and Retail Joint Stock Company and six million shares of Vietnam Industrial Service Construction Joint Stock Company.
The funds raised from this bond issuance are earmarked for investment cooperation in a Build-Operate-Transfer (BOT) model and for restructuring capital sources for its subsidiary. The Renewable Energy Company is currently investing in the Tay Nguyen Wind Farm project, which officially commenced commercial operations in 2021. This project, with a total capacity of 28.8 MW, is expected to produce approximately 108 million kWh of electricity annually.
Future phases of the Tay Nguyen Wind Farm are ambitious, with Phase 2 expected to reach a capacity of 110 MW and Phase 3 aiming for 300 MW, bringing the total capacity to 440 MW. The project spans over 20.6 hectares and has a total investment of more than 1,860 billion VND, with a planned operational timeline extending 50 years from its inception on September 16, 2014.
The Renewable Energy Company was originally established as IBS Renewable Energy Co., Ltd. in mid-2016, focusing on the production, transmission, and distribution of electricity. Initially, it started with a charter capital of 25 billion VND, owned by Smart Building Solutions Joint Stock Company, with Mr. Vu Quang Dung serving as the director and legal representative.
In November 2016, the company increased its capital to 360 billion VND and rebranded as MTV Renewable Energy Company. By mid-2018, it transitioned to its current name, Renewable Energy Co., Ltd., with a significant capital increase to 1.1 trillion VND. Mr. Dung holds a 60% stake, while Mr. Le Anh Tung and Ms. Nguyen Thi Bich Hanh each own 20%.
As of December 2021, the company adjusted its charter capital to 300 billion VND, with Mr. Dung and Ms. Hanh owning 60% and 40%, respectively. The company also has a subsidiary, HBRE Energy Solutions Joint Stock Company, in which it holds a 70% ownership stake.
These developments in Trà Vinh illustrate the province's proactive approach to renewable energy and its commitment to sustainable development, positioning itself as a key player in Vietnam's energy sector.
