PV Power proposes $4 bln power complex in central Vietnam
PV Power, a subsidiary of state-owned Petrovietnam, has proposed constructing an energy complex in the central province of Ninh Thuan with an estimated investment of $3.98 billion.
The project will include a 1,440 MW pumped-storage hydropower plant (of six turbines); a 3,500 MWp solar farm; and a 350 MW battery energy storage system (BESS), PV Power executives said last weekend at a meeting with provincial authorities.
The power complex, located in Lam Son commune, Ninh Son district, will have a designed capacity of 5.87 billion kWh per year. Its hydropower and solar power components will take up 184.2 ha and 2,000 ha, respectively.
If approved, the project investor will begin implementation in 2026 and have it operational by end-2030. The project will make Ninh Thuan the nation’s a preeminent energy and renewables hub, PV Power said.

A solar power plant in Ninh Thuan province, central Vietnam. Photo courtesy of Trungnam Group.
Ninh Thuan Vice Chairman Trinh Minh Hoang appreciated the project proposal and said the province would work with PV Power on the next steps and procedures.
Hoang asked the company to consider combining the hydropower plant and the solar farm in order to save the large area of land needed for solar power development.
Ninh Thuan has called for investment in nine power projects including a 1,200 MW pumped-storage hydropower plant in Ninh Son and Bac Ai districts with an estimated cost of VND22,865 billion ($903.6 million).
With eight operational power plants that have a combined capacity of 4,205 MW, PV Power is the second-largest exchange-listed power generator, only behind EVNGENCO3 Corp with a capacity of 7,000 MW. PV Power now accounts for 5.4% of Vietnam’s designed power generation capacity.
The firm is striving to complete work on the Nhon Trach 3 and 4 LNG-fired power plants in the southern province of Dong Nai, which have a combined capacity of 1,500 MW. The Nhon Trach 3 plant is scheduled to start commercial operations in November 2024, with Nhon Trach 4 following six months later.
For this year, the firm has targeted pre-tax profits of VND995 billion ($39.3 million) on revenues of VND31.7 trillion, down 31% and up 9% year-on-year, respectively.
Its H1/2024 pre-tax profit and revenues are estimated at VND657 billion ($26 million) and VND15.82 trillion, respectively.
Shares of PV Power, listed on the Ho Chi Minh Stock Exchange as POW, closed Wednesday down 6.7% at VND13,900 ($0.55) apiece.
- Read More
Northern Vietnam city receives $15.6 bln in pledged investment capital post-merger
Over $15.6 billion in investment capital was committed for the northern port city of Hai Phong on Tuesday, a record high.
Industries - Tue, July 15, 2025 | 11:12 pm GMT+7
Honda cements Vietnam motorbike market dominance with 10% sales growth
Honda Vietnam (HVN) reported a 10% year-on-year increase in motorcycle sales to nearly 2.3 million units in fiscal year 2025, which ended on March 31, according to the company’s annual report.
Companies - Tue, July 15, 2025 | 5:42 pm GMT+7
Foreign investors net buy over $497 mln on Vietnam's stock market from July 1-15
VN-Index, which represents the Ho Chi Minh Stock Exchange, dropped by 9.77 points to 1,460.8 on Tuesday, ending its seven-session gaining streak.
Finance - Tue, July 15, 2025 | 5:13 pm GMT+7
UPS eyes opportunities in Vietnam's free trade zone, airport projects
Leading global shipping and logistics firm UPS is eyeing business opportunities at the Danang city-based free trade zone and the Long Thanh International Airport in Dong Nai province.
Economy - Tue, July 15, 2025 | 3:58 pm GMT+7
Vietnam PM asks Marubeni to expand investment in gas-fired, offshore wind power
Marubeni should expand its activities in Vietnam in the fields of gas-fired and offshore wind power, export of electricity to ASEAN countries, and development of AI and big data, said Prime Minister Pham Minh Chinh.
Economy - Tue, July 15, 2025 | 12:21 pm GMT+7
Vietnam’s wood pellet industry needs production standardization to meet global demand: experts
Businesses should invest in developing dedicated raw material zones to reduce the Vietnamese wood pellet industry’s reliance on secondary supply sources and ensure compliance with legality and sustainability standards, said an expert.
Economy - Tue, July 15, 2025 | 9:18 am GMT+7
Riding out tariff turbulence, investment funds in Vietnam report strong growth gains
Many equity funds in Vietnam have posted strong growth returns, with gains exceeding 30% since the market’s April 10 trough in 2025, data collected by The Investor shows.
Finance - Tue, July 15, 2025 | 9:00 am GMT+7
Singapore supports businesses, workers amid US tariff pressures
The Singapore Economic Resilience Taskforce (SERT) has announced measures to help Singapore companies adapt to a new U.S. tariff.
Southeast Asia - Mon, July 14, 2025 | 10:11 pm GMT+7
Malaysia makes efforts to minimize US tariff’s impacts
Malaysia’s top export to the U.S. - electronics and electrical products - will face the biggest brunt of a 25% tariff hike that the U.S. has imposed on the country, said head of School of Business under the Monash University Malaysia Prof Nafis Alam.
Southeast Asia - Mon, July 14, 2025 | 10:08 pm GMT+7
Thailand faces $6.14 bln export loss if US tariff is 25-36%: forecast
Thailand could lose up to THB200 billion ($6.14 billion) in export value this year if the U.S. imposes new tariffs ranging from 25-36% on Thai goods, according to a forecast from the University of the Thai Chamber of Commerce (UTCC).
Southeast Asia - Mon, July 14, 2025 | 10:06 pm GMT+7
Southern Vietnam province Tay Ninh okays many high-tech agri projects
Tay Ninh authorities recently granted in-principle approvals to a string of high-tech agricultural projects, paving the way for significant development opportunities in the southern province.
Industries - Mon, July 14, 2025 | 10:00 pm GMT+7
Construction ministry backs $1.95 bln port project in southern Vietnam
Geleximco Group's Cai Mep Ha container and general port project aligns with the national master plan and the master plan for Vietnam’s seaport system, according to the Ministry of Construction.
Infrastructure - Mon, July 14, 2025 | 5:09 pm GMT+7
Electric vehicles in Vietnam: 7 years of development and double-digit growth prospect
The shift toward greener mobility has been underway in Vietnam and the local electric vehicle (EV) market is expected to see double-digit growth thanks to favorable policies, infrastructure development, automakers’ efforts, and a young consumer base.
Economy - Mon, July 14, 2025 | 4:46 pm GMT+7
HCMC apartment prices continue to rise as supply hits 10-year low in H1
The apartment market in former Ho Chi Minh City continued to see rising prices since the total supply in the first six months of 2025 hit the lowest since 2015, according to real estate consultancy firm DKRA.
Real Estate - Mon, July 14, 2025 | 4:03 pm GMT+7
Buyer secures Sunshine Group’s Hanoi shophouse at 15% lower than market price via livestream
A buyer successfully secured a shophouse at property major Sunshine Group’s Noble Palace Tay Thang Long project in Hanoi for VND11 billion ($421,295), VND2.5 billion or 15% below market value, during a bidding livestream on the NobleGo platform held last Friday evening.
Companies - Mon, July 14, 2025 | 1:37 pm GMT+7
Vietnam’s major rice exporter Vinafood 1 tasked with developing mega agri-logistics hub
Vinafood 1, Vietnam's top rice exporter, has been asked to develop an integrated hub for agricultural trade, logistics, warehousing, exports, customs, banking, irradiation, and research and development activities.
Industries - Mon, July 14, 2025 | 12:19 pm GMT+7