Specific business plans and projects demonstrate a clear trend towards expansion into wind, solar, and clean energy, aligned with a green transition strategy and energy security assurance.
Notably, the Vietnam Petroleum Chemical and Services Corporation (PVChem) has expanded into the renewable energy sector by adding business lines such as manufacturing and trading wind turbine components; manufacturing fuel cells and energy storage and conversion equipment. This direction is part of the company's three strategic pillars, with renewable energy and transition technology identified as new areas of development in the coming period.
To implement the plan, PVChem expects to raise approximately VND 788 billion through a share issuance during the 2026-2027 period, aiming to create resources for new investment areas, in addition to its traditional operations.
From a policy perspective, Decision No. 363/QD-BCT dated February 28, 2026, of the Ministry of Industry and Trade on adjusting the national energy master plan continues to emphasize the role of renewable energy in ensuring energy security. Accordingly, the proportion of renewable energy in total primary energy is expected to reach approximately 25-30% by 2030 and 70-80% by 2050.
Against this backdrop, many energy companies have accelerated investment and restructured their portfolios. Gia Lai Power Joint Stock Company stated that the domestic renewable energy market is entering a restructuring phase, focusing on perfecting policies and developing in a selective direction. The direct power purchase agreement mechanism is being gradually implemented, contributing to diversifying electricity consumption methods.
In 2026, the company aims for consolidated revenue of VND 3,107 billion, while continuing to implement projects such as the Ea Tih Hydropower Plant, the VPL 2 Wind Power Plant, and the Duc Hue 2 Solar Power Plant. Notably, the Duc Hue 2 project is the first to simultaneously apply both a direct power purchase agreement and an energy storage system, although some regulatory obstacles remain.
Refrigeration and Electrical Engineering Joint Stock Company also identifies renewable energy as a long-term growth driver, aiming for a capacity of 3 GW by 2030, focusing on near-shore wind power, solar power, and expanding into offshore wind power.
Following the same trend, PC1 Group Joint Stock Company is boosting investment in solar power by contributing capital to local projects, while VinEnergo Energy Joint Stock Company plans to develop a large-scale wind power plant cluster in Gia Lai with a total estimated investment of approximately 8 billion USD.
Not only focusing on the domestic market, VinEnergo also aims to develop 100 GW of renewable energy in international markets such as North America, Northern Europe, the Mediterranean, and Southeast Asia, and has already reached agreements to deploy its first projects in Denmark, Sweden, and the Philippines.
In addition, many other businesses have also entered the market, including Kinh Bac Urban Development Corporation with wind power projects in Gia Lai, and Vingroup Group with its focus on developing renewable energy, concentrating on wind and solar power.
According to Vingroup Chairman Pham Nhat Vuong, renewable energy is not only an alternative solution but also a way to effectively utilize resources and minimize environmental impact. Components of the system, such as wind turbines and solar panels, are recyclable, creating economic value instead of becoming waste.
However, along with the increase in investment, the market is also placing increasingly high demands on investors. In reality, the number of businesses that fully meet the criteria regarding finance, experience, and project implementation progress remains limited. Requirements for equity capital, implementation capacity, and long-term financial plans are becoming decisive factors.
From a financial market perspective, experts believe that renewable energy is a long-term trend but has not attracted strong capital flows in the short term because investors still prioritize sectors with clearer profitability.
Nevertheless, with clear policy direction, increasing electricity demand, and pressure for energy transition, investment in renewable energy is projected to continue accelerating. Businesses with clear strategies, strong implementation capabilities, and the ability to adapt to new mechanisms will gradually assert their position in the next phase of market development.
Source: https://baotintuc.vn/kinh-te/dong-von-lon-dang-do-vao-dien-gio-dien-mat-troi-20260429151332330.htm
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