KBC, a leading developer, said its subsidiary, Sai Gon-Bac Giang Industrial Park JSC (SBG), had informed the company that Sustainable Renewable Energy Co., Ltd. had become an SBG subsidiary. The transaction gives KBC an indirect 96.46% ownership interest in the renewable energy company.

Sustainable Renewable Energy was established on June 5, 2026, headquartered at Lot A2-01, N3 Street, Nhon Hoi Industrial Park – Zone A, Quy Nhon Dong ward, Gia Lai province, with charter capital of more than VND2,935 billion ($111.63 million).

The company is wholly owned by SBG, led by CEO Nguyen Thi Mai Thao, and is engaged in renewable power generation.

Earlier, authorities in Gia Lai province recognized Sustainable Renewable Energy as the project company for the Van Canh 1 in Canh Lien commune and Van Canh 2 wind farms in Canh Lien and Van Canh communes. The company assumes all rights and obligations previously committed by SBG during the investor selection process.

Under the approved plan, the Van Canh 1 wind farm will require an investment of more than VND6.9 trillion ($262.43 million) and have installed capacity of 160 MW, generating an estimated 502 million kilowatt-hours (kWh) annually.

Van Canh 2 will require investment of more than VND7.77 trillion, with installed capacity of 180 MW and expected annual output of about 623.2 million kWh.

Combined, the two projects represent investment of nearly VND14.7 trillion ($559 million) and total capacity of 340 MW. Construction is scheduled to begin in September this year, according to commitments made by the project developer.

SBG, located in Quang Chau Industrial Park, Nenh ward, Bac Ninh province, has charter capital of VND3.4 trillion ($129.3 million) and operates in industrial park and real estate development. As of the end of 2025, KBC held a 96.45% economic interest and 100% of the voting rights in the company.ày.

SBG reported 2025 revenue of more than VND605.6 billion ($23.03 million) and net profit of VND317.6 billion ($12.08 million), both up nearly 25% from a year earlier. Total assets stood at nearly VND5.46 trillion ($207.5 million).

KBC has set a target of VND10 trillion ($380.33 million) in consolidated revenue and VND3 trillion in net profit for 2026.

In the first quarter, the company posted revenue of nearly VND1.34 trillion ($50.8 million), down 56% year-on-year, while net profit fell 72% to over VND234.2 billion ($8.9 million). The results represent about 14% of its full-year revenue target and roughly 9% of its profit goal.

According to documents presented at KBC's 2026 annual shareholders' meeting, the company views investments in artificial intelligence, data centers and renewable energy as long-term strategic businesses rather than short-term projects.

The businesses have been identified as long-term strategic priorities with the potential to become core revenue drivers in the future, KBC added.

KBC said the sectors are expected to become core growth drivers, helping diversify revenue while strengthening the competitiveness of the company's industrial parks by attracting high-tech foreign investors seeking integrated AI infrastructure and access to renewable energy.

Representatives noted that building a diversified ecosystem spanning industrial real estate, energy and technology would enhance KBC's resilience amid global economic uncertainty and support its long-term market position.

Gia Lai seeks investors again for $61 million wind project

Separately, Gia Lai's Department of Finance has reopened the investor selection process for the Ia Hla wind farm project.

The project will cover 24.76 hectares in Ia Ko and Chu Puh communes, with planned capacity of 40 MW, expected annual generation of 119.46 million kWh and total investment of VND1.6 trillion ($60.85 million).

The province had previously sought investors for the project in February, attracting one bidder, a consortium comprising Leader Energy and An Phat.

However, provincial authorities later rejected the consortium after concluding that it failed to meet preliminary financial capacity and equity requirements under the approved investor selection criteria.