Vingroup plans $25-30 billion renewable, LNG energy projects in Vietnam

Vingroup, Vietnam's largest conglomerate, is planning to invest between $25 billion and $30 billion to develop large-scale renewable energy and liquefied natural gas (LNG) projects as part of the country's revised Power Development Plan VIII (PDP8). The proposal includes deploying 47.5 GW of renewable energy between 2025 and 2035, with an initial phase targeting 20.5 GW by 2030 and an investment of $20 billion to $25 billion. Additionally, Vingroup aims to establish a 5 GW LNG power plant in Hai Phong with a $5.5 billion investment to help address power shortages caused by delays in other projects. The initiative follows collaboration with local authorities and the Ministry of Industry and Trade to ensure alignment with national energy strategies and standards. Vingroup's development plans highlight a focus on high-potential locations for wind and solar energy to optimize production efficiency. This marks Vingroup's first significant venture into the energy sector, expanding its portfolio beyond real estate and electric vehicles.