On November 8, in Chongqing, China, within the framework of the Vietnam – China Enterprise Dialogue, witnessed by Prime Minister Pham Minh Chinh and the leaders of the Ministries of the two countries, T&T Group signed and granted a memorandum of understanding with leading companies in the energy sector in China, including: Cospowers Co., Ltd., Goldwind International Holdings Co., Ltd…
COLLABORATION TO BUILD BATTERY MANUFACTURING PLANTS IN VIETNAM
Accordingly, T&T Energy (a member of T&T Group) and Cospowers Co., Ltd. signed a strategic cooperation agreement, with an important objective of researching, evaluating opportunities and potential for business development, building manufacturing plants for energy storage products (for renewable energy projects and standalone energy storage) and static energy storage systems for telecommunications.
Also according to the signed agreement, T&T Energy is responsible for finding a suitable location for the project and related legal procedures. Meanwhile, Cospowers will be in charge of technology, operations, market, and customers for the projects.
To materialize this cooperation, the two sides will immediately proceed to research cooperation opportunities in investing in the construction of energy storage battery manufacturing plants in Vietnam. In which, phase 1 of the project has a capacity of about 2 GWh/year, with a total expected investment of about 193 billion VND. Phase 2 of the project will be implemented after phase 1 from 2 to 3 years, contributing to a total project capacity of about 10 GWh/year.
In addition to cooperating with Cospowers, T&T Group and Goldwind – the world’s leading developer and manufacturer of wind energy technology have also committed to cooperating in researching, developing, building, and operating energy storage system manufacturing plants for wind power projects in Vietnam.
According to Ms. Nguyen Thi Thanh Binh, Vice President of T&T Group, Chairman of the Board of Directors of T&T Energy, cooperating with typical enterprises such as Cospowers and Goldwind to research and develop energy storage systems is not only a great step forward in the field of renewable energy but also demonstrates T&T Group’s strong commitment to a green and sustainable future. “With our reputation, determination, and understanding of the domestic market, combined with the experience, capacity, and advanced technology of foreign partners, T&T Group will realize the goal of bringing breakthrough energy solutions and promoting socio-economic development,” emphasized Ms. Nguyen Thi Thanh Binh.
DEVELOPMENT OF SUPPORTIVE ENERGY TECHNOLOGIES
Also according to the cooperation agreement between T&T Group and Goldwind, Goldwind will share information and experience to support T&T Group in developing the Energy Supporting Industrial Park project in Vietnam, with the goal of providing equipment to the Vietnamese market and exporting to potential international markets. When the Energy Supporting Industrial Park project is approved, Goldwind will invest in a part of the project to develop wind power equipment manufacturing plants. In addition, the two sides will jointly propose and promote mechanisms and policies to encourage investment in renewable energy supporting industrial parks.
Not stopping there, the strategic cooperation relationship between the two enterprises is further affirmed when T&T Group and Goldwind agreed to establish a mechanism for strategic equipment supply cooperation for some wind power projects of the Group, through the provision of support in wind potential assessment, customized development of turbines and related equipment, and proposals for operation and maintenance solutions to maximize the efficiency of the projects.
The cooperation with Goldwind promises to bring long-term benefits to both T&T Group and Vietnam’s energy industry, contributing to the development of the domestic supporting energy industry, which plays a key role in building a sustainable energy ecosystem.
Especially, the formation of the renewable energy supporting industrial park will create a stable supply, helping to reduce costs for investors based on the localization of items, equipment, and projects of renewable energy projects, aiming for Vietnam to master the technology and reduce dependence on foreign countries; complete self-reliance for domestic production.
Currently, T&T Group has put into operation 10 solar and wind power plants with a total installed capacity and grid connection to the National Power System reaching nearly 1,000 MW. In addition, the enterprise of businessman Do Quang Hien is also joint venturing with KOGAS, KOSPO, and HANWHA (South Korea) to implement the Hai Lang LNG Power Project Phase 1 with a capacity of 1,500 MW and an investment of about 2.5 billion USD.
According to the Group’s representative, T&T Group sets a target that by 2035, the total installed capacity of renewable energy and low-carbon power plants is expected to reach about 12-15 GW, accounting for about 10% of the total installed capacity of the Vietnam electricity system.
The Grand Opening of Vinh Long’s New Walking Street at the T&T Group Development
The Vinh Long People’s Committee has launched a pedestrian street in the heart of the city, as part of the Phuoc Tho Residential Area project, developed by T&T Land Phuoc Tho, a member of the T&T Group. This vibrant new space will serve as a hub for the inaugural Vinh Long Red Brick and Green Economy Festival in 2024.
“T&T Group and JTA-Qatar Join Forces to Develop a ‘Sports Complex and Disneyland Park’ in Hanoi”
T&T Group, a leading Vietnamese conglomerate, and Qatar’s prominent international investment group, JTA, have joined forces by signing a Memorandum of Understanding to develop a world-class “Multi-purpose Sports Complex and Disneyland Amusement Park” in Hanoi’s Dong Anh district. The project boasts a staggering expected investment of up to USD 4.5 billion, promising to be a game-changer in the region’s entertainment and sports landscape.
The Hanoi Mega Project: Unveiling a $4.5 Billion Vision with a 60,000-Seat Stadium and World-Class Sports Complex
“A productive meeting was held between the Prime Minister and the CEO of JTA, an international investment and consulting firm. The discussion focused on a range of topics, with a keen interest in exploring potential opportunities for collaboration and investment in the country’s thriving economy.”
The Next Big Thing: Vietnam’s Upcoming Mega Facility in a Promising Sector
This state-of-the-art factory is set to be constructed in a province of Vietnam, with an impressive initial investment of approximately $200 million.
“T&T Group Launches Major Industrial Cluster in Hanoi”
Spanning an impressive 41.7 hectares and boasting a total investment of nearly VND 780 billion, the Nam Phuc Tho Industrial Cluster – Phase 1, is a pivotal project for the Hanoi capital. It stands as one of the largest industrial clusters in the city to date.
