Specifically, according to information from T&T Group, on January 9, 2025, within the framework of the Vietnam - Laos Investment Cooperation Conference, witnessed by Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone, the Lao Ministry of Planning and Investment, on behalf of the Government of the Lao People's Democratic Republic, awarded the concession contract ("Concession Agreement") for the Savan 1 wind power project to Savan1 Wind Power Company Limited (a member unit of T&T Group).
Bringing wind power to Vietnam
Under the concession contract, the Lao Government agreed to allow Savan 1 Wind Power Company Limited to design, construct, own and operate the Savan 1 wind power project with a contract term of up to 25 years to export and sell electricity to Vietnam. The project is deployed in Phin district, Savannakhet province, Laos with a total installed capacity of up to 495 MW and a total investment of 768 million USD. According to the plan, phase 1 of the project has an installed capacity of 300 MW, a total investment of more than 490 million USD and will be put into commercial operation by the end of 2025.
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| Actual image of Savan wind power project in December 2024. (Photo: T&T Group) |
Previously, in August 2024, the Prime Minister approved the policy of importing electricity from the Savan 1 Wind Power Plant Project to Vietnam. The Government also assigned the Ministry of Industry and Trade and Vietnam Electricity Group, according to their assigned functions and tasks, to proactively and promptly guide and deploy tasks related to the implementation of the above policy; assigned the Ministry of Industry and Trade to direct EVN and relevant agencies to negotiate and sign the Power Purchase Agreement with the Investor, ensuring certainty, full legal basis and economic efficiency...
Up to now, the Power Purchase Agreement for the Savan 1 Wind Power Project between Savan 1 Wind Power Company Limited and Vietnam Electricity Group (EVN) has also been officially signed.
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| On December 28, 2024, the first batch of wind turbines was shipped to Hon La port (Quang Binh province, Vietnam). (Photo: T&T Group) |
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| On January 7 and January 9, 2025, the first and second batches of wind turbines arrived at Hon La port (Quang Binh province) to meet the urgent and rapid implementation schedule of the Savan 1 wind power project. (Photo: T&T Group) |
According to the Plan for implementing the Power Plan VIII, the total capacity of electricity imports from Laos is about 5,000 MW, which can increase to 8,000 MW by 2030. In addition, electricity imports from Laos will also comply with the memorandums of understanding and general agreements between the two countries.
EVN said that importing electricity from Laos in 2025 will play an important role in supplementing supply, helping to enhance the ability to ensure electricity supply and reduce the risk of power shortages in the northern region.
Thus, the investment in Savan 1 Wind Power Plant and its connection to the national transmission grid is of great significance, not only realizing T&T Group's commitment to expanding investment in the clean energy sector; but also contributing to increasing the power supply for the national power system, gradually realizing the cooperation commitment between Vietnam and Laos as well as in line with the electricity import orientation in the National Power Development Plan approved by the Prime Minister in Decision No. 500/QD-TTg dated May 15, 2023.
The first step of T&T Group's cross-border energy investment strategy
Ms. Nguyen Thi Thanh Binh, Deputy General Director of T&T Group, Chairwoman of Savan 1 Wind Power Company Limited, said that the signing of the Savan 1 wind power project franchise contract with the Lao Government is an important milestone, marking the beginning of T&T Group's "cross-border" energy investment strategy.
“Savan 1 Wind Power Plant will be a pioneering project and the foundation for the Group to continue investing in many other energy projects in Laos in the coming time,” Ms. Nguyen Thi Thanh Binh emphasized.
This will also be the largest onshore wind power project that T&T Group has invested in to date, contributing to expanding T&T Group's investment portfolio to realize the goal that by 2035, the total power generation capacity of renewable energy and low-carbon emission power plants is expected to reach about 12-15 GW, accounting for about 10% of the total installed capacity of Vietnam's power system.
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| Ms. Nguyen Thi Thanh Binh, Chairwoman of Savan 1 Wind Power Company Limited and Mr. Pham Nhu Anh, General Director of Military Commercial Joint Stock Bank (MB) signed a capital arrangement agreement for the Savan 1 wind power project. (Photo: Nhat Bac/VGP) |
Savan 1 Wind Power Company Limited has also signed a Capital Arrangement Agreement for the project with MB Bank, thereby opening up opportunities for strategic cooperation between T&T Group and MB Bank in the energy sector. According to this agreement, MB Bank will be the focal point committed to successfully arranging and allocating the entire funding package for the investor to implement phase 1 of the Savan 1 wind power project.
Currently, domestically, T&T Group has put into operation 10 wind and solar power projects in the provinces of Ninh Thuan, Binh Thuan, Soc Trang, Gia Lai, etc. with a total installed capacity and connection to the national grid reaching nearly 1,000 MW. In addition, T&T Group is also in a joint venture with KOGAS, KOSPO, HANWHA (Korea) to implement the Hai Lang LNG gas power project Phase 1 with a capacity of 1,500 MW, with an investment capital of about 2.5 billion USD.
Not stopping there, in order to continue affirming the prestige of the leading investor and energy developer in Vietnam, the Group of businessman Do Quang Hien has cooperated with many prestigious enterprises in the world to open up quite new fields in Vietnam, such as: cooperating with SK Group (Korea) to produce green hydrogen, recover carbon emissions and invest in a gas complex in Quang Tri; cooperating with Erex Group (Japan) to research and invest in biomass power plant projects; cooperating with Marubeni Group (Japan) in the field of offshore wind power in Vietnam; cooperating with Cospowers and Goldwind (China) to research and invest in storage battery manufacturing plants, develop energy support industrial park projects, etc.
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