3TI Progetti Asia, a local planning-design business, and two Chinese firms plan to invest $2 billion in a hydrogen production project using renewable energy in Vietnam's south-central province of Ninh Thuan.

At a Wednesday meeting with provincial authorities, the investors proposed a 1,000-MW wind power plant, a 500-MW solar power plant, and a hydrogen factory with an annual capacity of 400,000 tons. The wind and solar plants will power hydrogen production.

Ninh Thuan officials (left) meet with a business delegation from 3TI Progetti Asia and Chinese firms in the south-central Vietnam province, November 13, 2024. Photo courtesy of Ninh Thuan TV.

The investors also proposed Ca Na Industrial Park as a suitable location for the project, adding that it will be located close to the seaport to facilitate exports through easier access to pipelines and storage systems. The project will cover 290 hectares.

Backing the investment, Ninh Thuan Vice Chairman Trinh Minh Hoang asked relevant agencies to cooperate with the investors to study project details.

Hydrogen production and renewable energy are in line with the province’s development path, he said, adding that Binh Thuan possesses many geographical advantages for the energy sector.

This was the second time in two months that 3TI Progetti Asia had made a renewable energy proposal in Ninh Thuan province.

In October, 3TI Progetti Asia and Germany-invested wpd Vietnam LLC submitted a $700 million investment proposal: $500 million for generating 400 MW of wind power and 200 MW of solar power; and $200 million for a chemical factory.

According to Binh Thuan’s master plan for 2021-2030, energy and renewables are set to become a major economic sector, accounting for 12% of the province’s GRDP (gross regional domestic product).