The onshore wind power project was developed and constructed by Hai Anh Quang Tri Wind Power JSC (Hai Anh Quang Tri), in which Shizen Energy Inc. has invested through its subsidiaries. The project has fulfilled the detailed technical requirements for testing and test supervision, as required by authorities. The COD takes effect in November.

Shizen Energy entered into a share transfer agreement with Hai Anh Quang Tri, a company developing and constructing an onshore wind power project in Quang Tri, through its subsidiary on June 13, 2024. This agreement aims to advance renewable energy projects in Vietnam. The transaction was approved by the Quang Tri Department of Finance on May 13.

In Vietnam, electricity demand has increased due to rapid economic growth. From 2016 to 2024, electricity consumption grew from 158 TWh to 276 TWh (average 7.2 per cent per year). For 2026-2030, the revised Power Development Plan VIII (2025) projects GDP growth of 8-10 per cent per year and corresponding electricity demand growth of 10.3-12.5 per cent annually. To meet this demand, Vietnam targets an expansion of onshore and nearshore wind capacity to 26,066-38,028 MW by 2030, and 84,696-91,400 MW by 2050.

This project involves the deployment of 40 MW of onshore wind power generation systems in Huong Hoa district, Quang Tri. Construction began in January 2024, with operations scheduled to commence in November. The project will install eight Shanghai Electric turbines, each with an output of 5,000 kW, for a total output of approximately 40 MW, or approximately 106 GWh per year.

The electricity generated will be sold to Vietnam Electricity (EVN), and is expected to contribute to an annual reduction of 35,344 tonnes of greenhouse gas emissions. The project has been selected under Subsidy Programme for the Joint Crediting Mechanism (JCM) Facility Introduction by Japan's Ministry of the Environment in 2022.

This is the first wind power project in Vietnam approved under the JCM by the government of Japan, and will be the second wind project for Shizen Energy Group in the country.

Following this project, Shizen Energy and Hai Anh Quang Tri will continue to develop further wind power projects in Vietnam to contribute to the country's decarbonisation.