In the presence of the South Sulawesi Governor, Vingroup and PT. Sulsel Andalan Energi representatives sign an MoU. (Photo: Vingroup)
Vietnam’s largest private conglomerate Vingroup is accelerating its renewable energy expansion, announcing on Sept. 19 a partnership in Indonesia to develop large-scale solar power projects and build a green smart city in South Sulawesi province. The move underscores the group’s strategy to tap clean energy as a pillar for global market growth.
Vingroup taps Indonesia’s green transition
According to the memorandum of understanding, Vingroup has formed a strategic partnership with PT. Sulsel Andalan Energi, an energy company owned by the South Sulawesi provincial government. Vingroup will provide insights on renewable technologies and trends, while its partner will support local regulations and infrastructure coordination. The collaboration aims to develop ground-mounted and floating solar projects, with future integration of energy storage and grid connection.
Pham Sanh Chau, CEO of Vingroup Asia and VinFast Asia, said the partnership would generate significant value and contribute to regional sustainable development. He added that green energy has been identified as one of Vingroup’s strategic growth pillars.
Beyond renewables, the two sides are also in talks on smart city initiatives, including the construction of a new 4-hectare hospital, renovation of seven provincial hospitals, and affordable housing projects. To support South Sulawesi’s green city ambitions, the government plans to adopt Vingroup’s electric mobility ecosystem—from VinFast e-buses to V-Green charging stations and GSM’s EV ride-hailing platform.
South Sulawesi Governor Andi Sudirman Sulaiman said the partnership aligns with Indonesian President Prabowo Subianto’s Asta Cita vision and reflects recognition of Vingroup’s global sustainability efforts.
To promote smart cities, South Sulawesi Province intends to purchase VinFast electric buses. (Image: VinGroup)
Stepping into energy for EV decarbonization
Globally known for its electric vehicles, Vingroup made its first foray into power generation this March by applying to develop renewable and LNG plants in Vietnam. The company aims to boost installed capacity to 25.5 GW by 2030 and 52.5 GW by 2035. Recently, VinGroup announced it will invest $24 billion in Gia Lai Province in central Vietnam to develop a total of 20GW of renewable energy by 2035.
Chairman Pham Nhat Vuong has said the shift into green power is driven by the need to decarbonize EV production, which still relies heavily on coal-fired power. By investing in renewables, Vingroup seeks to ensure its EVs are genuinely sustainable.
The strategy of leveraging EVs to expand into other industries goes beyond Indonesia. Vingroup has also revealed plans to scale up investments in India, again led by VinFast, with green energy, smart cities, and resorts set to follow.
Source: Vingroup、Reuters、Investor(1)、(2)、Economic Times
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