Attracting investment in renewable energy projects

12/06/2026 11:58

As Vietnam accelerates the implementation of the National Power Development Plan VIII (PDP VIII) to ensure energy security and advance the green transition, Quang Ninh Province is gradually positioning itself as a new growth pole of the national energy sector, with a long-term vision of becoming an inter-regional hub for renewable energy industry and services.

The groundbreaking ceremony for the Quang Ninh 1 Wind Power Project.

The revised PDP VIII has opened up new development opportunities for Quang Ninh. Under the plan, during the 2025–2030 period, the province is allocated 23 power generation projects with a combined capacity of more than 3,500MW. A further eight projects, with a total capacity of nearly 6,700MW, are scheduled for development between 2031 and 2035. The power generation mix is highly diversified, including LNG-fired power, onshore wind power, offshore wind power, solar power, waste-to-energy power, biomass power, hydropower and cogeneration thermal power plants.

Within this structure, renewable and new energy sources are expected to account for an increasingly large share. The transition carries strategic significance and reflects Quang Ninh’s commitment to supporting Vietnam’s goal of achieving net-zero emissions by 2050.

One of the province’s most notable achievements in implementing PDP VIII has been progress in attracting investment and selecting project developers. By the end of May 2026, Quang Ninh had selected investors for six power generation projects with a combined capacity of 2,165MW, equivalent to nearly 62 per cent of the total capacity planned for the 2025–2030 period.

A rendering of the Quang Ninh 1 Wind Power Project.

Several large-scale projects have already advanced in the investment process, including the 1,500MW Quang Ninh LNG Power Plant in Cua Ong Ward, Quang Ninh Wind Power Projects No. 1 and No. 4, the Dam Ha Solar Power Plant, the Ha Long Waste-to-Energy Plant, and the Hai Ha cogeneration thermal power complex.

According to assessments by the Institute of Energy, Quang Ninh’s offshore waters have an estimated offshore wind power potential of around 13,000MW. PDP VIII has allocated 4,000MW of offshore wind capacity to the province, including 500MW in the 2025–2030 period and 3,500MW in the 2031–2035 period. Beyond this allocation, Quang Ninh is studying a proposal to add a further 9,000MW of offshore wind power capacity in subsequent phases. The scale of the proposal reflects the province’s long-term vision of harnessing its marine potential to create new drivers of growth.

Quang Ninh 4 Wind Power Plant has a designed capacity of 50 MW, with a total investment of more than VND 2.364 trillion. Illustration photo. 

Preliminary estimates suggest that once the additional renewable energy projects become operational, they could generate approximately 48.8 billion kWh of electricity annually, produce revenue of more than VND160 trillion and contribute around VND12.9 trillion to the state budget each year.

By Hoàng Nga

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