HÀ NỘI — T&T Group has signed a memorandum of understanding (MoU) with Vinacom Investment and Trading Company to develop, invest in and operate the Savan 2 wind power project in Savannakhet Province, Laos.

With a planned capacity of 495MW and an estimated investment of US$768 million, the project is expected to commence commercial operations by December 31, 2028.

The MoU was signed in Vientiane on Thursday in the presence of Vietnamese Prime Minister Lê Minh Hưng and Lao Prime Minister Saleumxay Kommasith, during the Vietnamese delegation’s official visit to Laos.

Located in Nong District, Savannakhet Province, Savan 2 is among the energy projects identified for facilitation under the 2026 cooperation framework between the Vietnamese and Lao governments. The project will support Việt Nam’s plans to increase electricity imports from Laos and diversify its power supply.

Following the development of Savan 1, T&T Group is moving ahead with the 495MW Savan 2 wind power project in Laos.

The first phase of Savan 1, with a capacity of 300MW, began commercial operations in late December last year and is expected to supply approximately 900 million kWh of electricity to Việt Nam annually.

Savan 1 also provides an infrastructure foundation for Savan 2, potentially accelerating project implementation through the use of existing power transmission facilities. The experience gained from Savan 1 in financing, construction and grid connection is expected to support the timely delivery of the new project.

Once operational, Savan 2 will strengthen cross-border electricity trade between Laos and Việt Nam, contribute to Việt Nam’s energy security and support the expansion of renewable energy supplies to meet rising electricity demand. — VNS