The announcement was made at the Energy of Change Summit 2026 held in Hanoi on March 10 where GE Vernova revealed its strategy to expand grid solutions manufacturing in Vietnam.

As part of the plan, the company will construct a new plant in Hai Phong to boost production capacity and support global electrification efforts amid steadily increasing energy demand. The facility will manufacture high-power transformers, primarily serving HVDC transmission projects. It will complement GE Vernova’s existing HVDC transformer production sites in Stafford, United Kingdom, and India.

HVDC technology enables efficient long-distance electricity transmission and helps ensure stable, safe, and reliable power grid operations.

The Hai Phong plant will be developed in phases and is expected to be fully operational by 2028, creating more than 400 jobs. Once completed, the facility will produce critical electrical equipment at scale for GE Vernova’s global portfolio, with a strong focus on meeting growing regional demand.

Held under the theme “Promoting Vietnam: From Concept to Reality,” the conference highlighted the strategic role of Vietnam’s power sector in shaping Asia’s energy future.

Discussions centred on the next phase of the revised Power Development Plan VIII, including strengthening domestic capabilities, enhancing supply chain integration, and improving system flexibility to accommodate a more diverse energy mix. The event also featured the latest updates in power generation and transmission technologies, along with insights from leading global energy markets.

At the conference, Acting Minister of Industry and Trade Le Manh Hung reaffirmed Vietnam’s commitment to accelerating the energy transition while ensuring the country can meet rapidly growing electricity demand and maintain sustainable long-term economic growth.

Scott Strazik, President and Global CEO of GE Vernova, shared Vietnam is emerging as one of Asia’s fastest-growing economies, undergoing a significant transformation in its energy system.

He said GE Vernova is proud to partner with Vietnam as the country entered a crucial stage of development, adding that the company’s contributions ranged from providing high-efficiency, advanced (HA) technology for the Nhon Trach 3 and 4 Power Plant - Vietnam’s first LNG-fired power project - to building manufacturing capacity for high-voltage direct current transmission systems to support the region’s growing electrification needs.

According to him, these efforts extend beyond Vietnam by strengthening supply chains, developing domestic industrial skills and capabilities, and helping lay the foundation to power economies across Asia and beyond.

During the event, GE Vernova and Vietnam Electricity Group (EVN) also signed a non-binding Memorandum of Understanding to explore potential cooperation on HVDC transmission technology in line with the revised Power Development Plan VIII.

The collaboration will focus on assessing how HVDC solutions, capable of transmitting large volumes of electricity efficiently over long distances, can support the future development of Vietnam’s power transmission infrastructure.

Special Economic Zone to take shape in Hai Phong port city

VOV.VN - The Prime Minister has approved the establishment of the Hai Phong Special Economic Zone (SEZ), a 5,300-hectare development designed to accelerate high-tech industry, innovation and regional connectivity in northern Vietnam.