Vietnam’s VinEnergo launches initial 10GW renewable energy phase, part of 100GW global ambition

The Hanoi-based company said the 10GW pipeline represents the opening phase of its broader global renewable energy strategy, which targets a total installed capacity of 100GW by 2029.

As part of this phase, VinEnergo has signed cooperation agreements with several international partners to jointly develop projects with a combined capacity of 10GW.

Of the total, 3.8GW will be developed in the Philippines through partnerships with NKS Renewables Inc. for 1.3GW, URG Asia Corporation for 1.2GW, and 11.11 Growth Properties for another 1.3GW, focusing on large scale solar power projects in Luzon, Visayas, and Mindanao.

The remaining 6.2GW will be implemented in collaboration with GreenGo Energy Group, a Danish renewable energy developer, under a long-term portfolio in Northern Europe, with the first 2GW scheduled for development in Denmark and Sweden.

VinEnergo will hold more than 80 percent ownership in projects within the 10GW portfolio and will take primary responsibility for financing, construction, and long-term operations.

Several projects have already begun since early 2026 and are expected to come online between 2027 and 2028.

The company plans to expand its overseas renewable energy portfolio to about 20GW in the first quarter of this year after signing additional projects totaling at least 8GW in Southeast Asia and Africa.

Under its broader roadmap, VinEnergo aims to build 100GW of renewable energy capacity over the next three years, including 50GW in key international markets such as North America, Northern Europe, the Mediterranean, and Southeast Asia.

These regions are seen as offering strong growth potential due to rising electricity demand, supportive renewable energy policies, and significant opportunities for international investors.

Nguyen Anh Khoa, CEO of VinEnergo, said the company is entering a new development phase in 2026 with ambitions to become a globally competitive renewable energy enterprise, according to Tien Phong (Vanguard) newspaper.

Launching large scale portfolios simultaneously across multiple markets demonstrates VinEnergo’s governance capabilities and its capacity to execute complex international projects, he said.

Khoa added that the company aims to contribute to the global energy transition while strengthening the presence of Vietnamese enterprises on the global green energy map.

Leveraging integrated battery energy storage system capabilities, VinEnergo expects to standardize project design, secure equipment supply chains, and optimize operational efficiency, particularly in markets with a high share of renewable energy.

In Vietnam, VinEnergo broke ground in 2025 on the 4,800MW Hai Phong LNG thermal power plant in northern Hai Phong City.

The company was also assigned as investor for two offshore wind power projects in north-central Ha Tinh Province with a combined capacity of around 900MW.

It is participating in the 750MW Hon Trau wind power project phase 1 and the 143MW Vinh Thuan wind power project, both in Gia Lai Province in the Central Highlands.