Business

PV Power proposes 4-billion-USD clean energy complex in Ninh Thuan

The Petrovietnam Power Corporation (PV Power) has proposed the implementation of the Lam Son Clean Energy Production Complex project, with an investment of nearly 4 billion USD in Ninh Thuan province.

A worker operates equipment at a PV Power plant. PV Power has proposed the implementation of the Clean Energy Production Complex project in Ninh Thuan province, which is worth nearly 4 billion USD. (Photo: VNA)
A worker operates equipment at a PV Power plant. PV Power has proposed the implementation of the Clean Energy Production Complex project in Ninh Thuan province, which is worth nearly 4 billion USD. (Photo: VNA)

Ninh Thuan (VNS/VNA) – The Petrovietnam Power Corporation (PV Power) has proposed the implementation of the Lam Son Clean Energy Production Complex project, with an investment of nearly 4 billion USD in Ninh Thuan province.

The complex will consist of three components: a 1,440 MW pumped-storage hydropower plant with six units; a 3,500 MWp solar power project; and a 350 MW Battery Energy Storage System (BESS).

The total electricity output is expected to reach 5.87 billion kWh per year. The total investment is estimated at 3.98 billion USD, with a land use requirement of approximately 184.2 hectares for the pumped-storage hydropower plant and 2,000 hectares for the solar power project.

The project is set to commence in 2026 and is expected to be operational by the end of 2030. It will utilise advanced storage battery and pumped-storage hydropower technologies to convert the less stable solar power into a reliable and flexible electricity supply, thereby realising the model of “self-production, self-consumption” solar power in Ninh Thuan. This aims to harness development potential and meet the goal of making Ninh Thuan a central hub for energy and renewable energy in the country.

The Ninh Thuan provincial leadership agreed and expressed their willingness to facilitate PV Power's preparation of the project documentation. They also urged PV Power to proactively implement the investment procedures early and work closely with relevant departments and local authorities to prepare and submit the project proposal for approval by central ministries, aiming for operation in the investment phase of 2026 - 2030.

With eight power plants currently in operation, totaling 4,205 MW of generation capacity, PV Power is the second largest listed company in terms of maximum capacity, only after the 7,000 MW capacity of Power Generation Corporation 3 (GENCO3, stock code PGV). PV Power's total generating capacity is equivalent to about 5.4% of Vietnam’s total designed generation capacity.

According to a report at the recent mid-year business review conference, PV Power’s leadership stated that the total revenue of the corporation in the first six months of the year was estimated at 16.169 trillion VND, reaching 97% of the plan and equivalent to 100% of the same period last year. It is estimated that in the second quarter of 2024, PV Power achieved nearly 10 trillion VND in revenue./.

VNA
#Petrovietnam #Petrovietnam Power Corporation #PV Power #clean energy #Ninh Thuan #renewable energy #solar power
Follow VietnamPlus

Green transition

Related News

Total power capacity by 2030

Total power capacity by 2030

In Decision No 262/QD-TTg dated April 1, 2024, the Prime Minister approved the implementation plan for the National Power Development Master Plan in the 2021-2030 period with a vision to 2050.

The 500 kV Line Circuit 3 seen in the central province of Ha Tinh. (Photo: VGP)

Ministry pledges no power shortages this year

There will be no electricity shortages this year, even as electricity consumption reaches record-high figures in Vietnam, the Ministry of Industry and Trade (MoIT) has promised.

See more

Prime Minister Pham Minh Chinh visits a macadamia cultivation model in Huoi Tao B village, Pu Nhi commune, Dien Bien province on March 8. (Photo: VNA)

PM requests boosting agricultural development in Northwestern region

PM Chinh encouraged local residents to explore additional crops and livestock suitable for intercropping in order to maximise land use efficiency. Farmers were also urged to strengthen cooperation with one another and with businesses by joining cooperatives, consolidating land resources and working together to expand production and improve incomes.

Farmers in the Mekong Delta province of An Giang harvest rice grown under the project 'Sustainable Development of One Million Hectares of High-Quality, Low-Emission Rice Associated with Green Growth in the Mekong Delta by 2030.' (Photo: VNA)

Promoting high-quality rice exports amid mounting challenges

According to the Ministry of Agriculture and Environment (MAE), an estimated 600,000 tonnes of rice worth 370 million USD was exported in January, up 12.4% in volume and 16.9% in value year-on-year. The average export price reached 616.6 USD per tonne, up 4%.

Fuel supply in Hanoi remains stable. (Photo: VNA)

Fuel prices rise sharply from 3 pm on March 7

Since the beginning of this year, domestic fuel prices have undergone 11 adjustments. During this period, both RON95 and E5 RON92 experienced four decreases and seven increases, while diesel oil two falls and nine hikes.

Customers buy and sell fuel at a Petrolimex petrol station. (Photo: VNA)

Capital’s fuel market remains stable after March 5 price adjustment

Operations at several petrol stations across Hanoi have run normally. Along major routes, petrol stations remained open and continued to serve customers as usual. The number of vehicles refueling showed no major changes compared to the days before the price adjustment. Sales activities continued without interruption, and there were no long queues or supply disruptions.

Thang Long II Industrial Park in Hung Yen province. (Photo: VNA)

Green industrial parks draw FDI to northern Vietnam

From 2026, the industrial real estate market in the northern region is forecast to enter a new growth phase as strategic infrastructure projects near completion, supply expands, and green industrial parks become a decisive factor for foreign direct investment (FDI).

Border guards from Thanh Hai Border Guard Station patrol fishing vessels entering Phu Hai port in Phu Thuy ward, Lam Dong province. (Photo: VNA)

Lam Dong orders swift action to address IUU fishing gaps

Vice Chairman of the provincial People’s Committee Le Trong Yen has directed heads of relevant departments, sectors and localities to strictly implement directives and newly issued regulations on IUU prevention, while strengthening public awareness efforts so fishermen and businesses better understand and comply with the rules.

Permanent Deputy Prime Minister Nguyen Hoa Binh speaks at the meeting to review the development strategy and operational framework for the international financial centre. (Photo: VNA)

Deputy PM urges early establishment of trading platforms at Int’l Financial Centre

Chairing a meeting in Hanoi on March 6 to review the development strategy and operational framework for the international financial centre, Binh acknowledged the progress made by relevant ministries and localities in a short period of time. However, he noted that current efforts have largely focused on building the organisational structure and legal framework.

Regza Vietnam Electronics Co., Ltd. (fully invested by Taiwan, China) installs four modern production lines in 2024. (Photo: VNA)

FDI disbursement in Jan–Feb reaches five-year high

The NSO noted that the Republic of Korea (RoK) and Singapore were the largest investors during the period, each registering over 1 billion USD in newly committed capital, accounting for a significant share of total foreign investment inflows into Vietnam.

Rising geopolitical tensions in the Middle East on Vietnam’s economy under the baseline scenario is expected to remain limited. (Photo: VNA)

Middle East tensions likely to have moderate impact on Vietnam’s economy: VinaCapital

According to Michael Kokalari, Director of Macroeconomic Analysis and Market Research at VinaCapital, the conflict is unlikely to significantly affect Vietnam. Exports to the Middle East account for less than 3% of Vietnam’s total export turnover, while the likelihood of a large-scale and prolonged ground campaign in Iran is considered relatively low.

VinFast has signed a strategic partnership with six electric motorbike dealers in Indonesia, marking a new step in expanding its distribution network in one of the region’s and the world’s largest motorcycle markets. (Photo: VNA)

VinFast partners with six e-scooter dealers in Indonesia

In preparation for the launch of its electric scooters in Q2/2026, VinFast has signed additional MoUs with six dealers, including PT. IB Motor, PT. Sentrik, PT. Axara Marani, PT. Sukses Sejati Indonesia, PT. Tangguh Inti Motor, and PT. Kiki Motor Persada. These partners are distributors with strong experience in key markets and share a common direction toward green mobility solutions.

Fishermen at Dong Tac fishing port in Phu Yen ward, Dak Lak province prepare to head back to sea after the storm (Photo: VNA)

Dak Lak reviews fishing vessel fleet, steps up fight against IUU fishing

Local authorities are focusing on managing registered fishing vessels and reviewing all records and data related to fishing, purchasing and processing seafood. Violations related to IUU fishing are being strictly handled under the principle of “facing the problem, not avoiding it”.