In a letter to the Lam Dong Provincial People’s Committee on April 14, the company requested that the provincial People’s Committee propose to the Ministry of Industry and Trade to include two wind power plant projects, Ta Nang 1 (113.4MW) and Ta Nang 2 (184.8MW), in the implementation plan for Power Plan VII, Phase 2 (2026-2030).
According to Dau Tu HLP, the basis for the proposal is to meet the electricity needs of the locality, especially the power source for the mining and deep processing of bauxite minerals. Secondly, to operate in synchrony with the 220kV Ta Nang 500MVA substation, which has been included in the Power Plan VIII implementation plan for the period 2026-2030, it is necessary to invest in the wind power plants mentioned above. Inclusion in the plan will ensure that the two wind power plants, Ta Nang 1 and Ta Nang 2, have a sufficient basis to proceed with the following steps: preparation of a feasibility study report, approval of the investment plan, selection of the project owner, implementation of investment preparation procedures, commencement of construction, and commissioning scheduled for late 2030 to early 2031.
Thirdly, according to HLP, the project does not overlap with natural forests, protective forests, or special-use forests. It has registered for a demand to convert the purpose of forest use for the period of 2021-2030 in the province, according to Official Letter No. 49/SNN-KL dated January 11, 2022, and Official Letter No. 2216/SNN-KL dated September 12, 2023. The project area does not affect national defense, security, or residential planning.
In response to the above request, on April 25, the Lam Dong Provincial People’s Committee sent a document to the Department of Industry and Trade, assigning the Department to take the lead and coordinate with relevant departments, sectors, and localities, based on the National Power Development Plan for the period 2021-2030, with a vision to 2050 (Power Plan VIII) and the Power Plan VIII implementation plan approved by the Prime Minister, to provide a response to HLP.
In January 2020, in a document sent by the Binh Thuan Provincial Department of Industry and Trade to the Institute of Energy, providing the status of the implementation of the revised Power Plan VII and proposing its inclusion in Power Plan VIII, Dau Tu HLP proposed to register for the survey of the Co Thach offshore wind power project in Tuy Phong with a capacity of 2000MW and a scale of up to 4.4 billion USD.
In 2018, in Dak Lak province, Dau Tu HLP also proposed to invest in a wind power plant project in the province.
In addition to the energy sector, the company also proposed to survey and invest in a forest management and protection project combined with the development of Ngoc Linh ginseng and medicinal plants under the forest canopy in Sub-compartment 231, 232, Ngoc Lay commune; Sub-compartment 233, Van Xuoi commune, Tu Mo Rong district, Kon Tum province in September 2022.
HLP Investment JSC was established in September 2017 in Hanoi, with its main business being electricity production. The initial charter capital was 3 billion VND, and the founding shareholders included Mr. Nguyen Manh Cuong (holding the position of General Director and legal representative) with 38%, Mr. Truong Viet Hung with 35%, Mr. Tran Van Hai with 10%, Ms. Do Thu Trang with 7%, Mr. Bui Xuan Huy with 3%, Mr. Nguyen Nhu Nam with 3%, Ms. Pham Thi Dong with 2%, and Ms. Nguyen Thi Ngoc Hoa with 2%. In October 2018, the company increased its capital to 90 billion VND, with Mr. Hung divesting all of his capital, while the remaining shareholders maintained their ownership percentages.
Mr. Nguyen Manh Cuong is also a founding shareholder of VSP Binh Thuan II Solar Power JSC, a project that has been embroiled in controversy over the sale of shares to foreign investors.
According to our findings, VSP Binh Thuan II Solar Power JSC is the investor in the VSP Binh Thuan solar power project in Vinh Son hamlet, Vinh Hao commune, Tuy Phong district. The legal entity was established in December 2016 with a charter capital of 360 billion VND. The founding shareholders included Vietnam Solar Power JSC with 52.25%, HC Toan Cau Investment and Technology JSC with 42.75%, and Mr. Dang Hong Son with 5%. Mr. Ha Duy Loi served as Chairman of the Board of Directors and legal representative. In mid-2017, the company unexpectedly reduced its capital to only 50 million VND, but a month later, in August 2017, it increased to 2.6 billion VND. At that time, the shareholders were Mr. Ha Duy Loi with 60%, Mr. Nguyen Van Hung with 37.45%, and Ms. Nguyen Thi Lien with 2.55%.
In March 2019, Mr. Loi was no longer the Chairman and legal representative of the company, and was replaced by Mr. Yang Yong Zhi (Chinese nationality). In July 2023, the company announced that foreign shareholders had acquired 100% of the capital, including Vina Solar Investment Co., Ltd., owned by Vina Solar Technology Co., Ltd. (with Mr. Zhi as General Director and legal representative), holding 99%, Mr. Zhi holding 0.5%, and Mr. Wang Zhao Feng holding 0.5%. Subsequently, these shareholders divested all of their capital, and were replaced by VN Green Holdings Pte. Ltd. (headquartered in Singapore) with 99% ownership, and Dragon Capital Private Equity Management Limited with 0.5% ownership.
The largest shareholder of VSP Binh Thuan II Solar Power, Vietnam Solar Power JSC, was established in October 2015 and is headquartered in Hanoi. Its main business is the production, transmission, and distribution of electricity. The initial charter capital was 350 billion VND, and the founding shareholders included Mr. Ha Duy Loi (holding the position of Chairman of the Board of Directors and legal representative) with 35%, Mr. Nguyen Manh Cuong with 20%, Mr. Phan Dang Thin with 10%, Ms. Vu Ngoc Van with 10%, Mr. Chuang Tien Vuong with 5%, Mr. Pham Tien Dung with 10%, and Mr. Vu Duc The with 10%. In August 2021, the company changed its name to Sun Vietnam Construction Development Investment JSC, reduced its charter capital to 50 billion VND, and appointed Mr. Nguyen Tuan Khoi as Director and legal representative. In September 2021, Mr. Pham Van Luong took over this position, and in May 2022, Mr. Nguyen Cong Khanh was appointed, while the company reduced its capital to 10 billion VND. In March of this year, Mr. Nguyen Van Huy assumed the role of Director and legal representative.
Mr. Yang Yong Zhi appears as the General Director of Vina Solar Technology Co., Ltd.
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