The KN Srepok 3 floating solar power plant, developed by KN Holdings subsidiary Srepok 3 Solar Power JSC, is located in Dak Lak province with a total investment of VND7.66 trillion ($291.29 million).

The project will cover around 360 hectares, including 354 hectares on the surface of the Srepok 3 hydropower reservoir and nearly six hectares of adjacent land across Ea Nuol and Ea Wer communes.

The plant will have an installed capacity of 304 MW and incorporate a battery energy storage system (BESS), a 500-kV substation and associated transmission infrastructure. Commercial operations are targeted for the fourth quarter of 2027.

Vietnam has accelerated renewable energy development under its adjusted Power Development Plan VIII (PDP VIII) as it seeks to strengthen energy security while achieving net-zero carbon emissions by 2050.

Speaking at the groundbreaking ceremony on Thursday, Tran Quoc Thanh, deputy CEO of KN Holdings, said the project would supply clean electricity to the national grid while making efficient use of the hydropower reservoir’s surface area.

The company expects the project to contribute around VND200 billion ($7.6 million) annually to the local budget after commissioning and create hundreds of jobs during both the construction and operational phases.

Dak Lak is emerging as one of Vietnam’s most promising renewable energy hubs, supported by favorable natural conditions and an expanding project pipeline.

According to recent assessments of the provincial renewable energy resources, Dak Lak benefits from average wind speeds of 5-7 meters per second and receives between 2,000 and 2,500 hours of sunshine annually, giving it estimated solar power potential of about 2,081 MW.

Following the PDP VIII release, the province has been allocated 125 power generation projects with combined capacity exceeding 14 GW, Nguyen Thi Thu An, director of the provincial Department of Industry and Trade, said.

Of these, 91 renewable energy projects with total capacity of 7.8 GW are scheduled for development between 2025 and 2030, while another 34 projects totaling 6.2 GW are planned for the 2031-2035 period.