HCMC – State-owned power utility Power Generation Joint Stock Corporation 1 (EVNGENCO1) has proposed investing in three floating solar power projects in Lam Dong Province with a combined capacity of nearly 270 MW and an estimated investment of about VND4.4 trillion.
The firm presented the proposal during a recent meeting with the People’s Committee of Lam Dong Province, where it also reported on its operations and investment activities in the province.
The projects would be developed on existing hydropower reservoirs under the revised Power Development Plan VIII, aiming to expand renewable energy capacity and make use of existing water infrastructure.
The proposed projects are a 96-MW floating solar plant at Dai Ninh Reservoir in Ninh Gia Commune with an estimated investment of VND1.6 trillion, a 100-MW phase one project valued at VND1.65 trillion at Ham Thuan Reservoir in La Da Commune, and a 70-MW phase-two expansion at Da Mi Reservoir in Dong Kho Commune with a projected investment of VND1.15 trillion.
EVNGENCO1 and its subsidiaries currently operate several hydropower plants in Lam Dong, including Dai Ninh, Dong Nai 3, Dong Nai 4, Da Nhim, Ham Thuan-Da Mi, and the Da Mi floating solar plant, with a combined installed capacity of around 1,615 MW.
According to EVNGENCO1, the projects are designed to use existing hydropower reservoirs to support renewable energy development and increase clean electricity supply for the national grid.
The corporation noted that floating solar development could also improve reservoir utilization and help reduce greenhouse gas emissions.
Vietnam’s first floating solar project, the 47.5-MWp Da Mi floating solar plant developed by Da Nhim-Ham Thuan-Da Mi Hydropower Joint Stock Company, began commercial operations in 2019. The project generates about 70 million kWh annually.
Nguyen Tien Khoa, chairman of EVNGENCO1’s members’ council, said Lam Dong has significant potential for renewable energy projects, particularly floating solar systems connected to hydropower reservoirs.
He added that the corporation is also studying other renewable energy projects in the province, including pumped-storage hydropower, wind power, biomass power, and waste-to-energy plants.
Le Trong Yen, permanent vice chairman of the Lam Dong People’s Committee, voiced support for the investment plans and asked local agencies to coordinate with EVNGENCO1 on investment procedures, according to the corporation.
For 2026-2030, EVNGENCO1 plans to mobilize about VND60 trillion for power generation development projects.
