This event also marks an important milestone with the first energy project of T&T Group implemented in Laos, contributing to ensuring energy security and strengthening cooperation between Vietnam and Laos.
On January 9, 2025, within the framework of the Vietnam - Laos Investment Cooperation Conference, under the witness of Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone, the Lao Ministry of Planning and Investment, on behalf of the Government of the Lao People's Democratic Republic, awarded the concession agreement ("Concession Agreement") for the Savan 1 wind power project to Savan 1 Wind Power Company Limited (a member unit of T&T Group).
Under the concession contract, the Government of the Lao People's Democratic Republic agreed to allow Savan 1 Wind Power Company Limited to design, construct, own and operate the Savan 1 wind power project with a contract term of up to 25 years to export electricity to Vietnam.
The project is being implemented in Phin district, Savannakhet province, Laos with a total installed capacity of up to 495 MW and a total investment of about 768 million USD. According to the plan, phase 1 of the project has an installed capacity of 300 MW, a total investment of more than 490 million USD and will be put into commercial operation by the end of 2025.
Ms. Nguyen Thi Thanh Binh, Deputy General Director of T&T Group, Chairwoman of Savan 1 Wind Power Company Limited, said that the signing of the Savan 1 wind power project franchise contract with the Lao Government is an important milestone, marking the beginning of T&T Group's "cross-border" energy investment strategy.
Not only contributing to the development of the neighboring country's potential sector, meeting domestic energy needs through the production and export of electricity to Vietnam, this is also an important event promoting economic cooperation between Vietnam and Laos.
“Savan 1 Wind Power Plant will be a pioneer project and the foundation for the Group to continue investing in many other energy projects in Laos in the coming time,” Ms. Nguyen Thi Thanh Binh emphasized.
The investment in Savan 1 Wind Power Plant and its connection to the national transmission grid is of great significance, contributing to increasing the power supply for the national power system, gradually realizing the cooperation commitment between Vietnam and Laos as well as in line with the electricity import orientation in the National Power Development Plan approved by the Prime Minister in Decision No. 500/QD-TTg dated May 15, 2023.
This will also be the largest onshore wind power project that T&T Group has invested in to date, contributing to expanding T&T Group's investment portfolio to realize the goal that by 2035, the total power generation capacity of renewable energy and low-carbon emission power plants is expected to reach about 12-15 GW, accounting for about 10% of the total installed capacity of Vietnam's power system.
Also within the framework of the event, Ms. Nguyen Thi Thanh Binh, Chairwoman of Savan 1 Wind Power Company Limited and Mr. Pham Nhu Anh, General Director of Military Commercial Joint Stock Bank (MB) also presented the Capital Arrangement Agreement for the project, opening up opportunities for strategic cooperation between T&T Group and MB Bank in the energy sector. According to the agreement, MB Bank will be the unit bank committed to successfully arranging and allocating the entire funding package for the investor to implement phase 1 of the Savan 1 wind power project.
Currently, domestically, T&T Group has put into operation 10 wind and solar power projects in the provinces of Ninh Thuan, Binh Thuan, Soc Trang, Gia Lai... with a total installed capacity and connection to the national grid reaching nearly 1,000 MW.
In addition, T&T Group is also in a joint venture with KOGAS, KOSPO, HANWHA (Korea) to implement the Hai Lang LNG power project Phase 1 with a capacity of 1,500 MW and an investment capital of about 2.5 billion USD.
Not stopping there, in order to continue affirming the reputation of the leading investor and energy developer in Vietnam, the Group of businessman Do Quang Hien has cooperated with many prestigious enterprises in the world to open up quite new fields in Vietnam, such as: Cooperating with SK Group (Korea) to produce green hydrogen, recover carbon emissions and invest in a gas complex in Quang Tri; cooperating with Erex Group (Japan) to research and invest in biomass power plant projects; cooperating with Marubeni Group (Japan) in the field of offshore wind power in Vietnam; cooperating with Cospowers and Goldwind (China) to research and invest in storage battery manufacturing plants, develop energy support industrial park projects...
