REE Wins Wind Power Project Bids in Vĩnh Long
According to Vietcap Securities, REE Corporation (code: REE) has won the bid for near-shore wind power projects in Vĩnh Long. Per the Ministry of Finance’s national bidding system, REE was announced as the sole investor meeting the requirements for two wind power plant projects, V1-5 and V1-6 phase 2, in Vĩnh Long (formerly Trà Vinh), with a total investment of VND 3,860 billion and a designed capacity of 80 MW, expected to be operational by 2026.
Vietcap forecasts the project to bring a post-tax profit of VND 123 billion with an average electricity selling price of 7.7 US cent/kWh, contributing 10% to profit growth in 2027. The project is expected to commence operations in Q4 2026, with an anticipated IRR of 11.8%.
This is one of the first renewable energy projects in Vietnam to benefit from the new pricing mechanism. REE is among the first companies to obtain an investment license for a new renewable energy project through the bidding process.
On May 30, 2025, the Ministry of Industry and Trade issued Decision 1508/QD-BCT, approving the ceiling price for the wind power project with the date of operation set within 2025. The new pricing for onshore and near-shore wind power is 18% and 9% higher, respectively, than the transitional pricing.
Strong Profit Growth Expected in M&E Segment
In the next two years, Vietcap forecasts strong profit growth in the M&E segment. Recently, REE’s M&E segment, in a joint venture with five other contractors, officially started the construction and equipment installation package for Terminal T2 at Cat Bi International Airport (Haiphong).
The project is valued at approximately VND 2,300 billion, with an expected construction period of 510 days. REE is responsible for designing, installing, and completing the entire MEP system. The M&E segment is forecast to record a 52% growth in post-tax profit in 2025 compared to the previous year and a further 33% increase in 2026.
The Power Sector’s Blue Hue in Q2
In Q2 of 2025, the electricity industry witnessed a sea of green, with most businesses thriving. The hydroelectric group, in particular, shone brightly against the low base of the previous year. Thermal power plants showed some differentiation, but most were also in the green. Meanwhile, the renewable energy sector continued its growth trajectory, propelled by favorable policies.
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Inauguration of the 1,500 Billion VND Hai Anh Wind Power Plant
The Hai Anh Wind Power Plant project is a landmark initiative, proudly standing in the communes of Huong Phung and Lao Bao in Quang Tri Province. This ambitious undertaking represents a Group B energy project, ranked as a second-tier venture with an impressive 40 MW capacity. With a substantial investment of 1,500 billion VND, this onshore wind farm is a pioneering effort, being the first of its kind to partake in the Joint Crediting Mechanism (JCM) – a testament to the strong collaboration between the governments of Vietnam and Japan.
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