On January 20, 2021, in Ho Chi Minh City, Trung Nam Construction Investment Joint Stock Company (Trungnam Group) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) held a high-level executive meeting to enter into a comprehensive cooperation agreement. Concurrently at the event, Vietcombank Sai Thanh Branch and Trung Nam Tra Vinh Wind Power 1 JSC (TNTVWP1) signed a credit financing contract for the Dong Hai 1 Wind Power Plant project.
On January 20, 2021, in Ho Chi Minh City, Trung Nam Construction Investment Joint Stock Company (Trungnam Group) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) held a high-level executive meeting to enter into a comprehensive cooperation agreement. Concurrently at the event, Vietcombank Sai Thanh Branch and Trung Nam Tra Vinh Wind Power 1 JSC (TNTVWP1) signed a credit financing contract for the Dong Hai 1 Wind Power Plant project.
The cooperation agreement between both parties establishes a framework for leveraging respective core strengths and fostering a deepening business partnership. Trungnam Group's strategic growth orientations focus on essential utility sectors, aligning directly with Vietcombank's credit expansion priorities, particularly in renewable energy projects.
In recent years, Trungnam Group has commissioned 3 solar power projects across Ninh Thuan and Tra Vinh provinces totaling 800 MW in installed capacity, alongside over 150 MW of operational wind power in Thuan Bac district. In 2020, Trungnam Group successfully commissioned the 220/500kV Substation and Transmission Line integrated with the 450 MW Trung Nam Thuan Nam Solar Power Plant. The Group is pursuing an expansive portfolio of energy projects aiming to integrate an additional 10 GW into the national power grid by 2027 across Dak Lak, Gia Lai, Tra Vinh, and Ninh Thuan...
The Dong Hai 1 Wind Power Plant project, executed by TNTVWP1 (a subsidiary of Trungnam Group), features a capacity of 100 MW across 25 wind turbine towers over a surface area of 1,646 hectares, positioned 3.5 km offshore in Dong Hai commune, Duyen Hai district, Tra Vinh province. The project includes an 11.2 km single-circuit 220kV transmission line linking Dong Hai 1 Wind Power Plant directly to the 220kV busbar of the Trung Nam Tra Vinh Solar Power Plant. Developed to expand generation capacity and interlink with the national grid, the plant will supply supplementary power to Tra Vinh province and adjacent areas. Total investment capital exceeds VND 4,990 billion, comprising over VND 1,790 billion in equity from the investor and nearly VND 3,200 billion in credit financing from Vietcombank.
On the financing side, Vietcombank was established in 1963. Over nearly 58 years of operation, Vietcombank has grown into one of Vietnam's largest commercial banks, with an extensive network of over 500 branches, transaction offices, subsidiaries, and representative offices domestically and internationally, as well as correspondent banking relationships with 1,800 banks in 176 countries and territories worldwide. In 2019, Vietcombank was recognized as the most profitable bank in Vietnam with profits exceeding VND 23,000 billion (~USD 1 billion), serving as the nation's largest corporate tax contributor. Vietcombank continues to play a vital role in national economic stability and development, serving as a key foreign-exchange bank and maintaining an influential standing within regional and global financial communities.
The signing of the credit contract for the Dong Hai 1 Wind Power Plant project between Trungnam Group and Vietcombank carries significant importance, launching comprehensive strategic cooperation between both organizations through prioritized service utilization, strategic financial advisory, and optimized capital management to solidify long-term bilateral growth.
COMMUNICATIONS DEPARTMENT