Major Investment in Renewable Hydrogen Project in Vietnam
Key Ideas
- 3TI Progetti Asia and two Chinese firms plan to invest $2 billion in a hydrogen production project in Ninh Thuan, Vietnam.
- The project includes a 1,000-MW wind power plant, a 500-MW solar power plant, and a hydrogen factory with a capacity of 400,000 tons annually.
- Ninh Thuan province officials are supportive of the investment, as it aligns with the province's development goals and would boost the energy sector's contribution to the economy.
- Renewable energy and hydrogen production are key components of Binh Thuan's master plan to make energy and renewables a major economic sector by 2030.
3TI Progetti Asia, along with two Chinese firms, are planning to invest $2 billion in a hydrogen production project in Ninh Thuan, Vietnam. The proposal includes the development of a 1,000-MW wind power plant, a 500-MW solar power plant, and a hydrogen factory with an annual capacity of 400,000 tons. The renewable energy generated by the wind and solar plants will be used to power the hydrogen production. The investors have identified Ca Na Industrial Park as the project site due to its proximity to a seaport, facilitating exports. The proposed project, covering 290 hectares, has received positive feedback from Ninh Thuan provincial authorities. Vice Chairman Trinh Minh Hoang highlighted that the investment aligns with the province's development strategy, recognizing the geographical advantages of Binh Thuan for the energy sector. This initiative complements the province's master plan for 2021-2030, aiming to boost the contribution of energy and renewables to the economy. This major investment reflects a positive outlook towards renewable energy and hydrogen production for sustainable economic development in the region.