Amidst the surging renewable energy market in Vietnam, an energy company called Refrigeration Electrical Engineering (REE) is quietly planning an unprecedented green energy transformation. On March 31, 2026, REE announced a remarkable expansion plan at its annual shareholders' meeting - investing billions of dollars to enter the offshore wind power field, aiming to increase the installed power capacity by about 1.5 times by 2030. This measure not only demonstrates the firm confidence of enterprises in the trend of energy transformation, but also marks that the development of wind power in Vietnam's South China Sea is moving from planning to practical implementation.

The leap from 1200 MW to 3000 MW

According to REE's development plan announced at the annual shareholders' meeting on March 31, 2026, the company plans to significantly increase its installed power capacity from the current approximately 1200 megawatts to approximately 3000 megawatts by 2030. In this expansion blueprint, offshore wind power, offshore wind energy, and floating photovoltaics are listed as key growth areas. This measure aims to achieve diversification of the company's energy structure and grasp the long-term development trend of energy transformation. The investment scale of billions of dollars demonstrates REE's firm optimism about the future growth potential of renewable energy.

Signed a wind turbine supply contract with Far East Energy

REE has made substantial progress in the development of offshore wind energy projects in Vietnam. In January 2026, REE signed a wind turbine supply contract with Chinese wind turbine manufacturer Far East Energy to provide wind turbines for the offshore wind energy project in Yonglong Province. The total installed capacity of the project is 128 megawatts, including the 48 megawatt V1-3 Phase II project and the 80 megawatt V1-5&6 Phase II offshore wind farm. According to Far East Energy, these two projects will use 16 EN-226/8.XMW offshore wind turbines, which will become the largest offshore wind energy project in Vietnam and even Southeast Asia in terms of single unit capacity after completion.

The vast prospects of wind power in the South China Sea

REE's expansion plan is highly aligned with Vietnam's national energy strategy. According to the Global Wind Energy Council (GWEC), according to the revised eighth phase of Vietnam's electricity development plan, the country plans to achieve an offshore wind power installed capacity of 6-17 gigawatts between 2030 and 2035, and 113-139 gigawatts by 2050. Under this policy framework, REE has taken the lead in promoting offshore wind power, which not only helps to seize market opportunities, but also provides important support for Vietnam to achieve its medium - and long-term offshore wind power goals. With the maturity of technology and cost reduction, offshore wind power is expected to become one of the important pillars of Vietnam's energy transformation. Editor/Yang Beihua