REE is preparing to expand into offshore wind as part of a broader renewable energy growth plan in Vietnam, with a billion-US-dollar investment push reported in Vietnamese media.
At its annual general meeting on 31 March 2026, REE said it plans to raise its total power capacity to around 3,000 MW by 2030 from about 1,200 MW currently. The company identified offshore wind, nearshore wind and floating solar as the main growth areas in the next phase of development. The plan is intended to broaden its power mix and position the business for long-term energy transition demand.
The strategy builds on work already underway in Vietnam’s nearshore wind sector. In January 2026, REE signed a wind turbine supply contract with Envision Energy for 128 MW of nearshore wind projects in Vinh Long Province.
Those projects include the 48 MW V1-3 Phase II and the 80 MW V1-5&6 Phase II nearshore wind farms. They will use 16 EN-226/8.XMW offshore wind turbines. According to Envision Energy, the developments are set to become the nearshore wind projects with the largest single-turbine capacity in Vietnam and Southeast Asia.
Vietnam’s policy backdrop also points to a larger offshore wind market. Under the revised Power Development Plan VIII, the country is targeting 6 GW to 17 GW of offshore wind capacity in the 2030 to 2035 period, rising to 113 GW to 139 GW by 2050, according to the Global Wind Energy Council.
