Vietnam’s onshore wind sector is still gaining strong momentum. (Photo: Nexif Ratch Energy)
Gia Lai Province in central Vietnam has awarded its latest onshore wind power project to Singapore-headquartered renewable energy developer Nexif Ratch Energy.
With abundant natural resources and a strategic location for supplying electricity across Vietnam, Gia Lai has become a hotspot for renewable energy investment, attracting both domestic and international players.
Six projects approved, wind energy takes biggest share
The Gia Lai Province Investment Promotion Center announced on Aug. 25 that it had approved six new investment projects over the past week, comprising two foreign direct investments (FDI) and four domestic projects, with a total value of VND 7.26 trillion (about USD 275.7 million). Nexif Ratch Energy’s wind power plant accounts for the largest share, with registered capital of VND 5.7 trillion (about USD 216.4 million).
According to the provincial government, Nexif Ratch Energy has met all necessary development requirements. The planned facility will be located in Van Canh District with an installed capacity of 143 MW, an estimated annual output of 391.8 GWh, and 26 turbines. The project must be completed within 36 months of approval.
Nexif Ratch Energy was established in December 2022 as a joint venture between Singapore’s Nexif Energy (51%) and Thailand’s RATCH Group (49%). The company focuses on renewable energy development across Asia-Pacific and operates offices in the Philippines, Vietnam, and Thailand.
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The CARE Solar Project in the Philippines under Nexif Ratch Energy. (Photo: Nexif Ratch Energy)
Gia Lai ramps up wind, solar expansion
Before the national provincial restructuring in July, the wind project fell under neighboring Binh Dinh Province. At that time, Nexif Ratch Energy was already conducting wind potential assessments. Other developers also moved in: NamHai Tech, diversifying from industrial manufacturing into renewables, was licensed to install two wind measurement towers, while Germany’s PNE AG advanced its offshore wind plans in the region.
Gia Lai has aggressively expanded renewable development. Last year, the province widened its designated land areas for projects, adding 52 new proposals with a combined capacity exceeding 2,073 MW. These include 32 wind, 13 solar PV, 5 hydropower, and 2 biomass projects, with tenders scheduled between 2025 and 2026.
According to Vietnam Energy Online, prior to the merger, Gia Lai possessed strong renewable potential, with 1,900 to 2,200 hours of sunshine annually, solar radiation of 4.6 to 5.2 kWh/m²/day, and solar generation potential of 7,500 MW. Meanwhile, consistent wind resources could support nearly 12,000 MW of installed capacity.
Source: The Investor(1), (2), (3), VIR, Vietnamvn(1), (2), Vietnam Energy Online
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