On May 14, 2021,
Trung Nam Construction Investment Joint Stock Company (Trungnam Group) officially signed a strategic partnership agreement with Hitachi Sustainable Energy (Hitachi SE), a member of Hitachi Group. This event holds significant importance in expanding Hitachi SE's renewable energy business footprint in Vietnam, while marking a major milestone in attracting foreign direct investment for Trungnam Group's renewable energy projects.
With the primary goal of implementing and operating wind energy projects, TNWP invested in the
Trung Nam Wind Power Plant Project with a total investment capital equivalent to VND 4,000 billion, featuring a total capacity of 151.95 MW, an operational duration of 2,785 hours/year, and an expected output of 432,000,000 kWh/year. The Trung Nam Wind Power Plant connects directly into the national grid system via the 220 kV Thap Cham Substation. The project was executed across 3 phases:
Unlike solar power development, wind power development processes are considerably more complex due to higher capital expenditure, lengthier transport and installation schedules, and equipment supply bottlenecks compounded by COVID-19. However, leveraging its experience as a leading energy group, Trungnam Group successfully overcame these hurdles to complete Phase 3 of the project. Furthermore, Trungnam Group collaborated with world-class technical partners such as Enercon and Sany. Notably, the project's turbines were supplied by Enercon (Germany), featuring gearless technology that operates at low wind cut-in speeds of 2–2.5 m/s and captures average wind speeds of 7.1 m/s (higher than Phase 1's 6.5 m/s). These represent the largest onshore turbines in Vietnam today. Selecting this advanced technology reduced land footprint requirements to just 0.14 ha/MW (compared to the regulatory cap of 0.35 ha/MW), contributing significantly to efficient national resource utilization.
Through this agreement, Hitachi SE acquired a 35.1% equity stake in Trung Nam Wind Power Plant, establishing TNG and Hitachi as strategic partners in their long-term growth. Retaining a 64.9% majority stake, TNG continues to hold the decisive management and operational role in directing the wind power project. This event reflects Hitachi's high assessment of TNG's project quality and long-term commercial potential. Concurrently, TNG gains additional partner funding to strengthen self-owned capital for executing future renewable energy targets.
In recent years, Trungnam Group commissioned 2 solar power projects in Thuan Bac district (Ninh Thuan province) and Duyen Hai district (Tra Vinh province) with a combined capacity exceeding 360 MW, alongside the Thuan Bac wind project with over 151.95 MW capacity. Additionally, in 2020, Trungnam Group became Vietnam's first private developer to successfully build and energize the 220/500kV Substation and Transmission Line combined with the 450 MW Trung Nam Thuan Nam Solar Power Plant. Trungnam Group is actively developing further energy assets to add 10 GW to the national grid by 2027, including plans for 900 onshore, near-shore, and offshore wind turbines across Dak Lak, Gia Lai, Tra Vinh, Ninh Thuan...
Alongside socio-economic growth exceeding 6%, domestic energy demand grows rapidly by 9–10% annually. Vietnam implements supporting policies for renewable energy development to meet rising power demand while cutting greenhouse emissions for sustainable development. Possessing abundant regional wind resources, Vietnam aims for 11.8 GW of wind capacity by 2030.
Currently, Hitachi SE and its subsidiaries operate 30 wind power companies in Japan (total installed capacity of 248 MW), partnering with local communities to support agriculture through cooperative agreements. With this initial investment in Vietnam, Hitachi SE aims to strengthen its strategic partnership with Trungnam Group on new wind projects and renewable energy initiatives to contribute to Vietnam's sustainable growth.
Hitachi Capital Group positions environment and energy as core business pillars, promoting renewable energy development while addressing social welfare challenges facing local communities. In December 2020, Hitachi Capital invested in solar energy projects in Thailand. Furthermore, Hitachi Capital continues to deliver new value grounded in SDGs as a "Social Value Creation Company."
About Hitachi Capital Group
In its "FY2019–FY2021 Mid-term Management Plan," Hitachi Capital Group designated "Environment/Energy" as a key business domain alongside expanding renewable energy development and solving social issues. In December 2020, Hitachi Capital announced its entry into Thailand's solar power generation business. Moving forward, Hitachi Capital Group continues to create and deliver SDG-based values as a "Social Value Creation Company."
Overview of Hitachi Sustainable Energy Ltd.
| Name: |
Hitachi Sustainable Energy Ltd. |
| Representative: |
President: Kei Ishida |
| Address: |
3-2-2, Saiwai-cho, Hitachi City, Ibaraki Prefecture |
| Established: |
March 1, 2016 |
| Line of Business: |
Renewable Energy Business |
| Capital, Major Shareholders & Shares: |
50 million yen
(Investment ratio: Hitachi Capital Corporation: 85.1%,
Hitachi Power Solutions Co., Ltd.: 14.9%) |