Thai energy giant Banpu records 2023 revenue of $13 mln in Vietnam
Banpu Public Company Limited, a Thai energy giant, recorded a total revenue of THB462 million ($12.7 million) from renewable energy in Vietnam in 2023, according to the firm’s financial statement.
The figure went up 41.7% from THB326 million ($9 million) in 2022, per the Thai firm’s report.
With the performance in 2023, Banpu recorded a gross profit of THB255 million ($7 million) and a profit before interest expenses and income taxes of THB237 million ($6.5 million). The two figures were up 80.9% and 78.2% year-on-year.
Banpu's Nhon Hai solar power plant in Ninh Thuan province, south-central Vietnam. Photo courtesy of Banpu.
Banpu started investing in Vietnam in 2016 with the signing of a memorandum of understanding (MoU) with Soc Trang province. In 2018, the firm was awarded an investment certificate for the Vinh Chau wind power plant project phase 1 in the Mekong Delta province.
Currently, Banpu’s renewable energy portfolio features the 37.6-MW El Wind Mui Dinh wind power plant in the central province of Ninh Thuan, which started commercial operations in June 2019.
Vinh Chau wind power project will have a capacity of 30 MW in phase 1 and 50 MW in phases 2 & 3. The project’s phase 1 is waiting for operational approval while phases 2 & 3 are under review.
Banpu’s solar power portfolio in Vietnam features the 35 MW Nhon Hai power plant in Ninh Thuan province, per a purchase and sale agreement reached by a subsidiary of Banpu in December 2021. The project started operations in July 2020.
Banpu also holds a 49% stake in Vietnam-based renewable energy firm Solar ESCO. In 2023, Solar ESCO installed an additional 14.7 MW of solar rooftop power for VinFast, the electric vehicle arm of Vietnamese private conglomerate Vingroup.
- Related News
- Read More
From Phu Quoc to Sa Pa: Why Vietnam’s tourism accelerating in Southeast Asia
Leading U.S. business magazine Fortune has described Vietnam as an emerging tourism “hot spot” in Southeast Asia, driven by the strong rise of destinations such as Phu Quoc and Sa Pa.
Travel - Thu, July 9, 2026 | 11:09 pm GMT+7
VietinBank seeks to divest entire stake in Hai Phong Port via public auction
VietinBank (HoSE: CTG) plans to divest its entire stake in state-controlled Hai Phong Port (UPCoM: PHP) through a public auction on the Hanoi Stock Exchange (HNX), potentially raising nearly VND278 billion ($10.57 million).
Companies - Thu, July 9, 2026 | 5:10 pm GMT+7
Starlink begins taking orders in Vietnam, first-year service costs $1,190
Starlink, the satellite internet service operated by Elon Musk’s SpaceX, has released pricing and started accepting orders in Vietnam, with first-year costs estimated at about VND31.4 million ($1,190).
Companies - Thu, July 9, 2026 | 4:09 pm GMT+7
Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing
Masan High-Tech Materials (UPCoM: MSR), the mining unit of Vietnamese conglomerate Masan Group (HoSE: MSN), has entered into a strategic partnership with South Korea’s GB Innovation (GBI) to process Korean tungsten concentrate into higher-value products in Vietnam, strengthening a non-Chinese tungsten supply chain.
Companies - Thu, July 9, 2026 | 3:51 pm GMT+7
Idemitsu Kosan expands energy ecosystem in Vietnam
After more than three decades of operations in Vietnam, Japan’s Idemitsu Kosan is further expanding its energy ecosystem with a biomass pellet plant project in the central province of Gia Lai.
Industries - Thu, July 9, 2026 | 1:43 pm GMT+7
Two banks to list on Ho Chi Minh City bourse, expand charter capital
Vietnam's private banks Vietbank and BVBank are finalizing the last steps to transfer their trading from the unlisted public company market UPCoM to the Ho Chi Minh Stock Exchange (HoSE), while simultaneously implementing plans to increase their charter capital.
Banking - Thu, July 9, 2026 | 11:51 am GMT+7
Strong Q2 earnings, lower interest rates to bolster Vietnam stocks
Strong second-quarter corporate earnings and declining interest rates are expected to support Vietnam's stock market in the coming months, brokerage firms said, as the market moves beyond a period of limited news flow and enters a more favorable phase driven by improving fundamentals.
Finance - Thu, July 9, 2026 | 8:00 am GMT+7
Wistron raises construction, equipment investment in northern Vietnam province to $178 mln
Taiwanese technology firm Wistron has increased its investment in factory construction and equipment in Ninh Binh province to $178.27 million, adding $24.5 million to expand its facilities at Kim Bang Industrial Park.
Industries - Wed, July 8, 2026 | 7:56 pm GMT+7
Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year
Vietnam's leading developer Sun Group aims to begin construction of two urban projects worth a combined VND16.4 trillion ($623.78 million) in the central province of Quang Ngai by the end of 2026, while also advancing plans for a new expressway linking the province with the Central Highlands.
Real Estate - Wed, July 8, 2026 | 4:54 pm GMT+7
Vietnam raises airport number target to 36 by 2030 as aviation demand surges
Vietnam plans to expand its airport network to 36 airports by 2030, up from the previous target of 30, under a revised national aviation infrastructure plan aimed at catering for rising passenger demand and boosting regional connectivity.
Infrastructure - Wed, July 8, 2026 | 4:45 pm GMT+7
Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam
Vietnamese industrial park developer IMG Phuoc Dong and Germany’s VFT Bio Fuels UG have signed a memorandum of understanding to study the development of a $3.1 billion green steel complex in the southern province of Tay Ninh.
Industries - Wed, July 8, 2026 | 4:25 pm GMT+7
Vietnam police minister urges Yamato Holdings to study investment in Gia Binh airport
Vietnam’s Minister of Public Security Luong Tam Quang has called on Japan’s Yamato Holdings to assess investment opportunities in warehousing and cargo transport systems at Gia Binh International Airport, while exploring potential cooperation and operational models with Vietnamese partners once the facility becomes operational.
Infrastructure - Wed, July 8, 2026 | 3:09 pm GMT+7
Vietnam real estate M&A favors quality, clear legal status assets as FDI priorities evolve
Vietnam's real estate M&A market continued to attract foreign capital in the first half of 2026 despite persistent global economic uncertainties, but foreign investors are increasingly targeting assets with clear legal status, stable cash flow, and strong operational performance, with data centers emerging as a key growth segment.
Real Estate - Wed, July 8, 2026 | 1:38 pm GMT+7
Central Vietnam hub Danang plans to tokenize nearly $4 bln in infrastructure projects to attract global capital
The Vietnam International Financial Center, located in the central city of Danang (VIFC Danang), plans to tokenize nearly $4 billion worth of infrastructure projects as part of a strategy to attract more global capital.
Economy - Wed, July 8, 2026 | 12:17 pm GMT+7
Computers, smartphones edge higher in price as AI memory boom tests Vietnam's ICT firms
Rising memory chip prices driven by artificial intelligence are spreading from semiconductor manufacturers to consumer electronics brands such as Apple, Dell and ASUS, pushing up the prices of computers and smartphones.
Companies - Wed, July 8, 2026 | 8:00 am GMT+7
LG Innotek to build $1 bln semiconductor substrate plant in northern Vietnam
South Korea's LG Innotek will spend $1 billion to build a semiconductor package substrate manufacturing plant in Hai Phong city, with mass production scheduled to begin in the third quarter of 2028, according to local authorities.
Industries - Tue, July 7, 2026 | 11:13 pm GMT+7
