The Government of Laos agreed to allow Savan 1 Wind Power Company Limited (a subsidiary of T&T Group) to design, construct, own, and operate the Savan 1 wind power project under a 25-year contract to export electricity to Vietnam. The contract was transferred within the framework of the Vietnam - Laos Investment Cooperation Conference on January 9.

The project will be implemented in Phin district, Savannakhet province, Laos, with a total installed capacity of up to 495 MW and a total investment of approximately 768 million USD. According to the plan, the first phase 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 and Chairwoman of Savan 1 Wind Power Company Limited, said that the signing of the franchise contract for the Savan 1 wind power project with the Government of Laos is an important milestone, marking the beginning of T&T Group's "cross-border" energy investment strategy.

"The project contributes to meeting domestic energy demand through the production and export of electricity to Vietnam, promoting economic cooperation between Vietnam and Laos. This is also the foundation and basis for the group to continue investing in many other energy projects in Laos in the coming time," Ms. Nguyen Thi Thanh Binh emphasized.

As of now, this is the largest onshore wind power project invested by T&T Group, contributing to expanding its investment portfolio and aiming for the goal of achieving 12-15 GW of total power generation capacity from renewable energy and low-carbon emission plants, accounting for about 10% of the total installed capacity of Vietnam's power system by 2035.

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), signed a capital arrangement agreement for the Savan 1 wind power project. Photo: Nhat Bac/VGP

Additionally, within the framework of the conference, 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), signed the capital arrangement agreement for the project, opening up opportunities for strategic cooperation between T&T Group and MB Bank in the energy sector. MB Bank commits to arranging and allocating the entire funding package for the investor to implement the first phase of the Savan 1 wind power project.

Currently, in Vietnam, T&T Group has put into operation 10 wind and solar power projects in provinces such as Ninh Thuan, Binh Thuan, Soc Trang, and Gia Lai, with a total installed capacity of nearly 1,000 MW connected to the national grid. In addition, this group is collaborating with Kogas, Kospo, and Hanwha (Korea) to implement the first phase of the Hai Lang LNG power project with a capacity of 1,500 MW and an investment of about 2.5 billion USD.

T&T Group, led by businessman Do Quang Hien, also cooperates with many prestigious enterprises in the world to explore new sectors in Vietnam, such as cooperating with SK Group (Korea) to produce green hydrogen, capture carbon emissions, and invest in an LNG project in Quang Tri; cooperating with Erex Group (Japan) to research and invest in biomass power plant projects; cooperating with Marubeni Corporation (Japan) for offshore wind power projects in Vietnam; and cooperating with Cospowers and Goldwind (China) to research and invest in plant manufacturing storage batteries and develop supporting industrial parks for the energy sector.