The Can Tho Department of Finance said the consortium had submitted an application for investment policy approval for the Vinh Tan wind power plant on September 10, 2026.

The proposed project would be located in Lai Hoa commune and Vinh Phuoc ward, with a designed capacity of 200 MW.

XCE Energy was established in late 2021 with initial charter capital of VND1.9 trillion ($73.12 million). Xuan Cau Co Ltd held a 95% stake in the company at that time. Following several capital increases, XCE's charter capital reached VND5.1 trillion ($196.37 million) in mid-September 2026.

XCE says on its website that it inherited the renewable energy business from the Xuan Cau Holdings ecosystem. The company says it currently owns and operates 390 MW of solar and wind power capacity and is targeting a renewable energy portfolio of 2 GW by 2030.

XCE's partner, REE Energy, has charter capital of VND10.5 trillion ($404.28 million) and is wholly owned by Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corp (HoSE: REE).

REE has also been expanding its wind power investment in the region. Before the Vinh Tan proposal, REE's board approved a plan for REE Energy to acquire up to a 100% stake in Phu Cuong Wind Power JSC to develop the Phu Cuong 1A and 1B wind power projects.

The two projects have a combined capacity of 200 MW and are located in the Vinh Chau area of the former Soc Trang province, which is now part of Can Tho.

The company plans to begin construction of 328 MW of nearshore wind capacity this year and bring 128 MW into commercial operation, aligning with its long-term goal of tripling installed capacity to 3,000 MW by 2030.