The "circle" of faith
In the Savannakhet plateau (Laos), 48 wind turbines of the Savan 1 project developed by T&T Group are turning wind power into real cash flow. After nearly 7 months of commercial operation, the project recorded about 36.5 million USD in revenue.
If output is maintained stably, phase 1 can bring in about 62.5 million USD in revenue per year. When the entire project with a capacity of 495 MW is completed, revenue is expected to increase to nearly 97.3 million USD/year, and at the same time provide about 1.4 billion kWh of clean electricity per year for the Vietnamese power system.
For financial institutions, these figures not only reflect the effectiveness of an energy project but also are evidence of the ability to turn investment capital into operating assets and cash flow.
That is also the reason why the effectiveness of Savan 1 is of special significance to Military Commercial Joint Stock Bank (MB), the unit participating in arranging finance for the project from the preparation phase, when no turbines were installed, no revenue and only an agreement between T&T Group and the Lao Government.
That belief was quickly verified by actual progress. Despite facing complex terrain and weather, T&T Group only took 16 months to complete its own 220 kV power line and put phase 1 of the plant into commercial operation at the end of 2025. Savan 1 officially started commercial production from December 26, 2025.
The effective implementation of Savan 1 creates more basis for MB to continue considering accompanying T&T Group in other projects.
If MB's funding reflects the confidence of a commercial bank in enforcement capacity, the credit agreement between T&T Group and Vietnam Development Bank (VDB) shows another layer of confidence: policy capital participating in strategic projects.
VDB is a 100% state-owned policy bank, focusing on financing projects belonging to national priority groups. The framework agreement signed by the two sides at the end of July paved the way for the financing of state investment credit capital in areas including transport infrastructure, energy, industrial park - logistics infrastructure and high-tech agriculture, which are also areas where T&T Group is developing a large-scale project portfolio.
The capital will be disbursed according to actual needs, within the credit limit of VDB and will only be activated when each project is approved for investment policy by a competent authority. The investor must have counterpart capital, with a minimum contribution of 20% of the total investment capital of each project.
VDB's signing of the framework agreement instead of just funding individual projects is a noteworthy sign of T&T Group's position in the eyes of the policy banking system. VDB Chairman Le Van Hoan assessed T&T Group as one of the large multi-industry private economic groups with prestige in Vietnam, and expected the agreement to be concretized soon with eligible credit contracts.
In fact, T&T Group's deployment capacity has been verified through many projects. Recently, BIDV disbursed more than 20,000 billion VND for 3 solar power plants Phuoc Ninh, Thien Tan 1. 2 and Thien Tan 1. 3. BIDV is also considering approving credit for a number of wind power projects, including Savan 1, with an estimated capital of more than 100 million USD.
On the international level, at COP26 in 2021, Standard Chartered pledged to arrange $6 billion in funding for T&T Group's green project portfolio, one of the largest international capital commitments ever announced to a Vietnamese private corporation.
The appearance of MB, BIDV, VDB and financial institutions at home and abroad shows that a mechanism is forming: commercial banks take the lead, accept enforcement risks to verify capacity; actual results become evidence; and that evidence creates a foundation for more stringent capital sources to continue to participate.
Long-term vision attracts large capital flows
The attractiveness of T&T Group to financial institutions lies not in a separate project but in the ability to deploy a large portfolio in long-term capital-needed fields such as transportation, logistics, industry and energy.
In transportation, T&T Group is deploying Quang Tri Airport with a total capital of more than 5,800 billion VND in the form of PPP, which has just been adjusted to level 4E, along with the Bao Loc - Lien Khuong expressway, Ring Road 4 - Capital Region and many other BOT and PPP projects.
In logistics and industrial infrastructure, Vietnam SuperPort is oriented to become a multi-modal logistics superport on the China - Vietnam - ASEAN corridor, serving high-tech and semiconductor supply chains; the project recently achieved TAPA FSR class A certification. The project portfolio continuously "focuses" on creating medium and long-term capital needs, instead of just serving individual projects.
In energy, T&T Group is operating and investing nearly 2,900 MW, and at the same time developing a portfolio of about 16,000 - 20,000 MW of renewable energy and clean energy sources. The big test ahead is Hai Lang LNG gas power center (Quang Tri), capacity of 1,500 MW, total capital of nearly 59,000 billion VND, developed with Kogas, Kospo and Hanwha.
If Savan 1 proves its ability to implement a hundreds of millions of USD scale energy project, Hai Lang LNG will require international capital arrangement capacity, risk management and long-term companionship of financial institutions.
As Mr. Do Quang Hien, Founder and Chairman of T&T Group, once shared, private enterprises not only seek business opportunities but also accompany the State in creating development, turning big commitments into concrete works and values.
In the field of infrastructure, capital flows always find places that can turn commitments into projects. After more than 30 years of development, enforcement capacity is becoming an important asset helping T&T Group continue to expand its access to large sources of capital at home and abroad.
