Quang Tri attracts more foreign investment in energy sector

Quang Tri is attracting more foreign investment in its energy sector as three additional international companies have submitted proposals to acquire shares in local renewable projects, according to the provincial government.

Foreign investors have proposed funding or acquiring shares in several wind power projects in Huong Hoa, a mountainous district. – Photo: Le Truong

Huong Linh Clean Energy Development JSC (Chinese shareholder) has proposed investing $10.1 million to acquire a 61.3 percent stake in Huong Linh 3 Wind Power JSC. The company is the developer of the Huong Linh 3 Wind Power Plant in Huong Hoa District and holds land use rights for the project site in Huong Linh Commune.

Meanwhile, Quang Tri Province’s Department of Finance has requested guidance from the provincial leadership on a proposal for investment in Gio Thanh Energy JSC, the developer of the Gio Thanh 1 Solar Power Plant in Gio Hai Commune, Gio Linh District. Two foreign investors, SHINFOX ENERGY CO., LTD (Taiwan) and CAMELLIA ENERGY PTE. LTD (Singapore), have each proposed contributing $4.95 million, representing a 35 percent stake in the company.

In another proposal, SHIZEN Singapore Holding 01 PTE LTD (Singapore) has applied to acquire a five percent stake in Hai Anh Wind Power JSC, the developer of the Hai Anh Wind Power Plant. The project spans Huong Phung and Tan Thanh communes as well as Lao Bao Town in Huong Hoa District, with the proposed investment amounting to $690,000.

Following the submission of these investment applications, Quang Tri Province’s Department of Finance has consulted relevant agencies and local authorities to ensure compliance with regulations before presenting the proposals to the provincial government for review. Since 2021, Quang Tri has seen increasing foreign interest in its renewable energy sector.

The province has previously approved Sembcorp Solar Vietnam PTE. LTD (Singapore) to invest in the Huong Phung 2 and Huong Phung 3 Wind Power Plants, developed by Huong Phung Wind Power Co., Ltd., as well as the GELEX 1 and GELEX 2 Wind Power Plants, owned by Gelex Energy Quang Tri Co., Ltd.

These investments have been approved with full foreign ownership. Similarly, VN GREEN HOLDINGS PTE. LTD (Singapore) has been permitted to acquire a 100 percent stake in the LIG – Quang Tri Solar Power Plant, developed by Quang Tri Solar Power Co., Ltd.

The surge in foreign investment reflects Quang Tri’s growing position as a hub for renewable energy development, reinforcing its role in Vietnam’s transition toward sustainable energy.

Hoang Nam