GE Vernova to invest $200 million in HVDC transformer plant

GE Vernova to invest $200 million in HVDC transformer plant

GE Vernova has announced a $200 million investment to build a manufacturing plant for high-voltage direct current (HVDC) transmission equipment at Nam Dinh Vu Industrial Park in Haiphong.

The venture aims to expand production capacity for power grid solutions that support the rapidly accelerating global electrification trend. The new facility will manufacture large-capacity transformers primarily for high-voltage direct current (HVDC) power transmission projects, complementing GE Vernova’s existing HVDC transformer plants in the United Kingdom and India.

The launch ceremony at Nam Dinh Vu IP

The technology enables highly efficient long-distance power transmission while ensuring grid stability, safety, and reliability.

The Haiphong plant will be implemented in phases and is expected to be fully operational by 2028, creating more than 450 jobs. In addition, GE Vernova plans to roll out workforce training and knowledge-sharing programmes in Vietnam to build local capabilities while integrating the Haiphong facility into the company’s global electrification manufacturing network.

Once operational, the facility is expected to produce critical electrical equipment at significant scale, serving GE Vernova’s global portfolio with a core focus on meeting rising regional demand.

Nguyen Thanh Phuong, CEO of Sao Do Investment Group – the developer of Nam Dinh Vu Industrial Park – said GE Vernova was one of the world’s leading corporations in energy and electrical technology.

The company’s decision to select Nam Dinh Vu as the location for its manufacturing plant marks an important milestone, reflecting its strategic vision to expand production in Asia.

“We appreciate GE Vernova’s confidence in choosing Nam Dinh Vu Industrial Park for this project. This not only reaffirms the attractiveness of Haiphong’s investment environment but also demonstrates our continuous efforts to build a modern, integrated and sustainable industrial ecosystem,” Phuong said.

The initiative involves the production of equipment aligned with GE’s renewable energy development strategy, which is fully consistent with the city’s vision of transforming Haiphong into a green and sustainable industrial centre, as well as with Nam Dinh Vu’s eco-industrial park transition roadmap.

The venture will also create substantial employment opportunities for local workers, contribute to the state budget, and support socioeconomic development in Haiphong.

Nam Dinh Vu IP is committed to supporting the investors

Covering 1,329 hectares, Nam Dinh Vu Industrial Park is planned into four functional zones: industrial land; seaport and logistics; integrated industrial services; and oil and liquid cargo. The park’s infrastructure includes a high-capacity power supply system, water supply and drainage networks, wastewater treatment facilities, internal road systems, and a centralised wastewater treatment plant.

Nam Dinh Vu Industrial Park is a modern, multifunctional industrial zone with synchronised technical infrastructure, advantageous logistics services, and a strategic location within the Dinh Vu-Cat Hai Economic Zone and the Haiphong Free Trade Zone.

To date, Nam Dinh Vu Industrial Park has attracted more than $3 billion in foreign direct investment, including numerous projects from Japan, South Korea, Chinese Taipei, Singapore, and the European Union.

“We are committed to continuing our support for investors, ensuring optimal conditions for GE Vernova’s project to be implemented smoothly, on schedule, and to enter effective operation as early as possible," Phuong said.

"At the same time, we are confident that with GE Vernova’s global capabilities, experience, and reputation – together with active support from the Haiphong authorities and Nam Dinh Vu Industrial Park – the project will become a standout success in investment attraction and industrial development in the region."

Since investing in Haiphong in 2008, GE Vernova (formerly GE Renewable Energy, part of global giant GE) has built a wind turbine component manufacturing plant in the Haiphong Japanese Industrial Park, with a total investment of $111 million and approximately 1,000 employees.

Over 17 years of operation, GE has been recognised by workers in Haiphong as one of the city’s leading employers in terms of salary and benefits.

Philippe Piron, CEO of Electrification at GE Vernova said: “The electrification process is accelerating globally, and reliable electrical infrastructure is becoming increasingly essential to support economic growth and energy security."

"This investment expands our manufacturing capacity in a region experiencing strong demand growth, while strengthening a diversified supply chain that supports customers across Asia and other regions as needed. It also reflects our long-term commitment to supporting Vietnam’s industrial development.”

VIR