Hòa Phát has proposed four solar projects with a total capacity of nearly 500MW in Quang Ngai province, contributing to the provincial planning for 2021-2030. The largest project is the Vạn Tường solar power complex, with a capacity of 150MW, utilizing both ground and floating solar. Two other major projects located in the Dung Quất urban area and Bình Sơn commune have respective capacities of 140MW and 200MW. Hòa Phát reports a high demand for electricity in steel production in Dung Quất, and the implementation of solar power will alleviate pressure on the national grid. In Dung Quất Economic Zone, the Dung Quất 1 project, with an investment of about 86 trillion VND, is currently operating stably, providing millions of tons of steel annually. Hòa Phát is also advancing the Dung Quất 2 project and has started construction on a railway steel plant, expected to commence operations in 2027. The government aims to significantly develop renewable energy, especially solar power, targeting a 36% share of total electricity capacity by 2030.
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