REE Energy and XCE Consortium Propose 200 MW Vinh Tan Wind Farm in Can Tho

Overview

A consortium of XCE Energy and REE Energy has submitted a proposal to develop the 200 MW Vinh Tan wind power plant in Can Tho, with the investment application filed on September 10, 2026. The filing was received by the Can Tho Department of Finance, but it does not confirm the consortium as the selected developer. For REE, listed on HOSE, the move signals continued expansion in renewables alongside its existing 200 MW Phu Cuong wind project in Soc Trang.

Key Facts

• The consortium comprises Công ty Cổ phần Năng lượng XCE and Công ty TNHH Năng lượng REE, which filed on the national public service portal on September 10, 2026.
• The proposed Vinh Tan wind plant has a design capacity of 200 MW, located in Lai Hoa commune and Vinh Phuoc ward, Can Tho.
• The Can Tho Department of Finance has opened a submission window for other investors until 13:56 on September 21, 2026.
• If two or more valid applications are received, the department will proceed with investment approval and investor selection procedures.
• XCE Energy was established in late 2021 with initial charter capital of VND 1,899 billion; Xuân Cầu held 95% at the time.
• XCE’s charter capital reached VND 5,100 billion by mid-September 2026, and the company says it operates 390 MW of solar and wind with a 2 GW target by 2030.
• REE Energy has charter capital of VND 10,500 billion and is wholly owned by Cơ Điện Lạnh REE; REE’s board has approved REE Energy to acquire up to 100% of Phu Cuong Wind Power for the 200 MW Phu Cuong 1A and 1B cluster in Soc Trang.

What Happened

According to a notice from the Can Tho Department of Finance, the consortium of XCE Energy and REE Energy submitted its application for the Vinh Tan wind power plant via the national public service portal on September 10, 2026. The project is designed for 200 MW and would be sited in Lai Hoa commune and Vinh Phuoc ward. The department has opened a period for other investors to submit proposals for the same location, closing at 13:56 on September 21, 2026.

The department stated that if two or more valid applications are received, it will carry out the next steps for investment policy approval and investor selection in accordance with regulations. The receipt of the application does not mean the XCE-REE consortium has been selected to implement the project. XCE Energy, established in late 2021 with initial charter capital of VND 1,899 billion and 95% owned by Xuân Cầu at the time, has since increased its charter capital to VND 5,100 billion as of mid-September 2026. On its website, XCE says it inherited the renewable energy segment from the Xuân Cầu Holdings ecosystem and currently owns and operates 390 MW of solar and wind, targeting 2 GW by 2030. REE Energy, the partner, has charter capital of VND 10,500 billion and is wholly owned by Cơ Điện Lạnh REE. Prior to the Vinh Tan proposal, REE’s board approved REE Energy to acquire up to 100% of Phu Cuong Wind Power to implement the Phu Cuong 1A and 1B plants, also 200 MW, in the former Vinh Chau area of Soc Trang.

Market Context

REE, listed on HOSE, closed at VND 45,600 on September 28, 2026. The company operates in the utilities sector, with a portfolio spanning hydropower, thermal power, water, and real estate. The proposed Vinh Tan wind project adds to REE’s growing renewable energy pipeline, which already includes the 200 MW Phu Cuong wind cluster in Soc Trang. Vietnam’s wind power sector has attracted increased interest as the government works to finalize the Power Development Plan VIII implementation, though regulatory approvals remain subject to competitive selection processes.

Strategic Significance

For long-term investors, the Vinh Tan proposal reinforces REE’s strategy of expanding its renewable energy footprint through partnerships and acquisitions. The simultaneous pursuit of the Phu Cuong wind cluster and the Vinh Tan project suggests REE is aiming to build scale in wind power, which could diversify its revenue away from hydropower and thermal assets. However, the competitive filing process means the outcome is uncertain; if another investor submits a valid application, REE may need to compete or withdraw. The partnership with XCE, which has a 2 GW target by 2030, could provide additional project development capacity and local expertise. The key strategic question is whether REE can secure a pipeline of wind projects to offset potential volatility in its traditional energy segments.

What to Watch

• The September 21, 2026 deadline for competing applications for the Vinh Tan wind project.
• Can Tho Department of Finance’s subsequent announcement on investor selection and investment approval.
• REE’s progress on the Phu Cuong 1A and 1B wind cluster acquisition and any related financing.
• Updates on Vietnam’s Power Development Plan VIII and wind power pricing mechanisms.
• REE’s Q3 2026 earnings release for commentary on renewable energy expansion.