Vingroup Proposes $4.5B Wind Power Project in Can Gio District

Key highlights:

Vingroup proposes a $4.5B, 3,000 MW nearshore wind power project in Can Gio
The project aims to supply electricity to Vinhomes Green Paradise, Vingroup’s $8.44B sea-encroachment urban-tourism project.
Vingroup seeks to survey 1,163 hectares, and the Department of Finance has requested legal documents to proceed.

A nearshore wind power project worth $4.5 billion in Can Gio, the only coastal district in Ho Chi Minh City, has been proposed to be invested in by Vingroup, a leading Vietnamese property developer and carmaker.

In a document recently submitted to the municipal People's Committee, the corporation proposed a 3,000 MW advanced manufacturing project expected to generate approximately 9 billion kWh of electricity annually. The investment will be implemented in phases, aligned with the electricity demand during each stage. The electricity demand of Vingroup's sea encroachment tourism-urban area, Vinhomes Green Paradise, in Can Gio and its other needs is aimed at being met by the project. Vingroup has requested permission from the municipal people's committee to conduct research and surveys over an area of 1163 hectares along the entire Can Gio coastline. In response, the committee assigned the Department of Finance to work with relevant agencies to guide the company on procedural matters.

The Department of Finance issued a document requesting Vingroup to submit legal documents related to its proposal. These documents must include a project timeline, current land use status, identified challenges, and additional recommendations. Vingroup began construction on Vinhomes Green Paradise, a tourism-urban area project in the Can Gio neighborhood that encroaches on the sea.

Vinhomes Green Paradise 1/500 through planning, which was approved by HCMC authorities earlier this year, calls for a total investment capital of around VND217.05 trillion ( $ 8.44 billion). The investor's equity will account for around VND33 trillion ($1.28 billion).