A newly established company backed by leading steelmaker Hoa Phat Group has proposed developing a 20-gigawatt offshore wind power project in Vietnam’s southern city of Can Tho.
In a document submitted to the municipal Party Committee and People’s Committee, Song Hau Offshore Wind Power JSC requested approval to conduct research and surveys for an offshore wind farm off Vinh Hai commune. Total investment for the entire project is estimated at around VND1,500 trillion ($57.05 billion).
An offshore wind power project in Vietnam. Photo courtesy of Tuoi Tre (Youth) newspaper.
The company plans to divide the project into two development phases, each with a capacity of 10,000 MW and requiring VND750 trillion ($28.52 billion)
The first phase would be implemented in three stages of 2,000 MW, 4,000 MW, and 4,000 MW, with completion targeted for 2028, 2029, and 2030, respectively.
The second 10,000-MW phase is expected to be fully completed before 2035.
In the initial stage, the company proposes installing 2,000 MW of wind turbines and building associated transmission infrastructure, including a 35/220-kV GIS substation, the Southern Region 4 500-kV substation, and a 500-kV transmission line connecting to the Long Phu-Vinh Hai area to evacuate power from the project.
To demonstrate its commitment, Song Hau Offshore Wind Power said it would place a VND1 trillion ($38.03 million) deposit with Can Tho’s administration immediately after receiving approval to conduct the project survey.
The company also requested permission to carry out several preparatory procedures simultaneously in an effort to shorten the development timeline and complete investment procedures within 12 months.
Song Hau Offshore Wind Power JSC was established on June 20, 2026, with a charter capital of VND2 trillion ($76.06 million).
According to its business registration documents, Hoa Phat Group (HoSE: HPG) and KVS Investment JSC each contributed VND600 billion ($22.82 million), equivalent to a 30% stake.
The remaining shares are held by Hoa Phat chairman Tran Dinh Long and businessman Tran Dang Khoa, with each holding a 20% stake. Khoa serves as chairman, CEO, and legal representative of Song Hau.
The offshore wind proposal is not the first collaboration between Tran Dinh Long and Tran Dang Khoa. The two businessmen are also founding shareholders of Capital Mining and Metallurgy JSC, a mining company with charter capital of VND1.2 trillion ($45.64 million).
The two sides are also involving in a consortium proposing the development of Hanoi’s Red River Scenic Boulevard project, where Hoa Phat is a consortium member and Dai Quang Minh, chaired by Tran Dang Khoa, acts as the lead investor.
If approved, the 20-GW offshore wind project would rank among the largest renewable energy developments proposed in Vietnam and significantly exceed the country’s current installed offshore wind capacity, underscoring growing investor interest in Vietnam’s long-term energy transition and net-zero ambitions.
Can Tho, considered the heart of Vietnam’s Mekong Delta, is one of the seven centrally-governed cities in the country. The other six are Hanoi, Hai Phong, Danang, Hue, Dong Nai and Ho Chi Minh City.