United States-based AES Corporation (AES.N) has announced plans to construct a large-scale offshore wind farm in the Binh Thuan province, Vietnam. The 4,000 MW wind project is expected to cost USD13 billion and will double the country’s wind power capacity once operational.

A letter of intent (LoI) has been submitted by the company during the annual Vietnam-U.S. energy security dialogue.

Vietnam currently has about 4,000 MW of wind capacity. By 2030, the government plans to increase capacity by 11,700 MW and 66,000 MW by 2045.