Vingroup proposes renewable shift for Vietnam LNG plant
Vingroup cited high fuel costs from the Iran war for the shift. It proposed a $25 billion hybrid renewable project with a battery energy storage system.
The Vietnamese conglomerate VINGROUP JSC has proposed to the government of Vietnam that it scrap plans for the country's largest liquefied natural gas (LNG) power plant, opting instead for a massive renewable energy project. The shift is driven by the ongoing conflict involving Iran, which has significantly increased the risk of fuel price volatility and supply disruptions.
The proposal comes shortly after GE Vernova Inc. was selected to provide critical infrastructure, including gas turbines and generators, for the 4.8-gigawatt facility. The project, which broke ground in Haiphong last September, was expected to see its first phase completed by 2030.
