VinEnergo JSC, a subsidiary of Vietnam’s leading private conglomerate Vingroup, will develop renewable energy across the central province of Gia Lai with a total capacity of 20 GW and an estimated investment of $24 billion by 2035.

An MoU on the collaboration was handed over to Le Khac Hiep, vice chairman of Vingroup and representative of VinEnergo, at the Gia Lai Investment Promotion Conference 2025 on Friday.

The south-central coastal province of Binh Dinh and the Central Highlands province of Gia Lai were recently merged to form the new Gia Lai.

According to the provincial People’s Committee, this partnership represents a significant step forward in promoting clean energy and ensuring national energy security. It also supports Vietnam’s ambitious goal of achieving net-zero emissions by 2050.

The MoU signing marks the beginning of a strategic cooperation between VinEnergo and Gia Lai province, where VinEnergo will conduct surveys and propose investments in potential solar and wind energy projects. These efforts are aimed at achieving a total capacity of approximately 20 GW by 2035.

Local authorities will offer full support to VinEnergo, facilitating the integration of these projects into the National Power Development Plan, ensuring timely progress and achievement of the set goals.

The collaboration opens up opportunities to fully leverage Gia Lai’s natural advantages, including abundant year-round solar radiation, stable wind speeds, and vast land and marine areas. It will also help realize the province’s vision of transitioning to green energy - a core area of VinEnergo.

In his speech at the signing ceremony, Nguyen Tuan Anh, Vice Chairman of the provincial People’s Committee, said that with the aim of becoming a leading enterprise in renewable energy, VinEnergo is maximizing its potential to implement key projects, contributing to the sustainable development of Vietnam’s energy sector.

He noted that this partnership will play a crucial role in shaping the future development of Gia Lai province.

Nguyen Huong Giang, deputy CEO of VinEnergo, confirmed that with favorable natural conditions, Gia Lai is one of the most promising regions for renewable energy development, aligning perfectly with VinEnergo’s development strategy.

“With the support and cooperation of the provincial People’s Committee, we will soon conduct research, invest, and deploy renewable energy projects in the province, helping realize the dream of clean energy and contributing to the national energy development strategy for 2030, with a vision towards 2045," she noted.

VinEnergo, founded by Vingroup chairman Pham Nhat Vuong in March 2025, aims to become a leading provider of sustainable energy solutions. The company focuses on five strategic areas, namely renewable energy, carbon credits, resource optimization, energy storage technologies, and new energy technologies like hydrogen and green ammonia, all with the goal of building a sustainable future for both Vietnam and the world.

In line with the government’s push for renewable energy development and usage, VinEnergo aims to be a front-runner in implementing large-scale renewable energy projects both domestically and internationally.