HANOI, March 10, 2026, 23:27 ICT
GE Vernova Inc. said Tuesday it’s committing around $200 million to build a new large power transformer facility in Vietnam, while its gas-turbine tech will be used in three upcoming LNG projects in the country. The plant, set for Hai Phong, is expected to focus on equipment for high-voltage direct current (HVDC) systems—those are key for transmitting big loads of electricity across long distances.
This shift comes as Vietnam races to scale up its power infrastructure. The country has set an ambitious target: 22.5 gigawatts (GW) of LNG-fired capacity by 2030, but as of January, just 1.62 GW had actually come online, according to . The gap highlights the urgency for Hanoi to build out generation and transmission fast enough to match the country’s rapid economic growth.
GE laid out plans to roll out its Hai Phong facility in phases, targeting full-scale operations in 2028 pending regulatory sign-off. The company expects to add roughly 450 jobs there by 2030. “Electrification is accelerating globally, and reliable power infrastructure is increasingly essential to support economic growth and energy security,” said Philippe Piron, chief executive of GE Vernova’s electrification segment. MarketScreener
GE said its 9HA.02 gas turbines and H78 generators are headed to PV Power’s Quynh Lap LNG project and Vingroup-VinEnergo’s Hai Phong LNG plant, adding that its tech also got the green light for state utility EVN’s Quang Trach II project. All three plants are designed for 1.6 GW apiece. The company also flagged the commercial launch of PV Power’s Nhon Trach 3&4—at 1.6 GW, it’s billed as Vietnam’s first HA-powered installation.
At the Hanoi summit, Chief Executive Scott Strazik described Vietnam as having moved into a “decisive execution phase” for its energy transition. Strazik pointed to Vietnam’s quick rise as one of Asia’s fastest-growing economies and highlighted the speed and ambition behind its power system overhaul. “What we build here extends far beyond Vietnam’s borders,” he said. GE Vernova
Power-equipment manufacturers are scrambling to boost output as shortages bite into turbines and grid gear worldwide. This month, Reuters Events flagged that U.S. gas-fired power capacity slated for 2025 shot up more than threefold to 252 GW. Siemens Energy, Mitsubishi, and GE Vernova have each rolled out their own expansion moves. Analysts at Wood Mackenzie see U.S. gas-turbine manufacturing capacity climbing by 15 GW over the coming year.
GE flagged the same surge. Back in January, the company told investors it landed over $2 billion in electrification orders directly linked to data centres for 2025. Meanwhile, gas-power backlog and turbine delivery-slot reservations jumped to 83 GW, up from 62 GW. Siemens Energy, for its part, noted ongoing strength in demand for gas turbines and grid equipment, and just last month dubbed the U.S. “the hottest electricity market in the world at the moment.” Reuters
Still, there’s risk in the pipeline. GE clarified that its technology picks for Vietnam haven’t yet converted to firm orders or been added to backlog, and the Hai Phong plant is waiting on regulatory sign-off. Tight supply chains add pressure. RMI’s Tyler Fitch told Reuters Events capital costs for U.S. combined-cycle gas plants have shot up—more than twice what they were 12 to 24 months ago. He flagged that “expanding the manufacturing capacity is not as straightforward as it might seem.” GE Vernova
Last month, Vietnam’s state utility handed out a $974 million contract for building Quang Trach II, with Reuters noting the plant will run on GE Vernova turbines and could be fully up and running by 2030. On Tuesday, GE confirmed the Vietnam investment slots into its broader $11 billion capital and research push set for 2025 to 2028.
