Vinacomin - Power Holding Corporation: 15 years of ensuring national energy security

Historical milestones

The Vinacomin - Power Holding Corporation (Vinacomin Power) was officially established on November 1, 2009 with a charter capital of VND6.8 trillion on the basis of receiving Na Duong and Cao Ngan thermal power plants which were in operation and five projects under construction, based on the strategy of the Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin).

The Son Dong 1 thermal power plant

Although the corporation encountered many difficulties from the first days of its establishment, now the Vinacomin Power brand has been confirmed and become one of Vietnam’s leading power producers, contributing to the Vinacomin’s role as a pillar in ensuring national energy security.

According to General Director of Vinacomin Power Ngo Tri Thinh, over the past 15 years, the corporation has made constant efforts to optimize natural resources, bringing high economic efficiency, and protecting the environment. Thereby, many new power source projects have been completed and put into operation.

From 2010 to 2015, the corporation completed and operated a number of thermal power plants such as the Cam Pha Thermal Power Plant with a capacity of 670 MW in Quang Ninh Province in 2010, the 220 MW Son Dong plant in Bac Giang Province in 2011, the 440 MW Dong Trieu plant in 2013, and the 30 MW Nong Son plant in Quang Nam in 2015.

In 2015, Vinacomin Power also successfully operated the Dong Nai 5 Hydropower Plant with a capacity of 150 MW in Lam Dong Province, affirming its initiative, creativity, and efficiency in production and business of the entire corporation.

On August 21, 2014, the corporation was honored to receive the Third-Class Labor Order from the President as a recognition for its outstanding achievements.

The central control room of Mao Khe Thermal Power Plant of Vinacomin - Dong Trieu Thermal Power JSC

In particular, during the peak months of the dry season in 2024, the leaders of Vinacomin requested the corporation to put all efforts on production management, ensuring efficient and safe operation of factories, and ensuring power supply to meet consumption needs.

Contributing to national energy security

With the determination of the Government, the Ministry of Industry and Trade and Vinacomin in developing new power sources according to the Power Plan VIII, Vinacomin Power is currently focusing on construction of the Na Duong II power plant to put it into operation and generate electricity by November 2026.

“However, we are coordinating with the contractor for a plan to put the project into operation two months ahead of schedule,” said General Director Ngo Tri Thinh.

After 15 years of development, the revenue of Vinacomin Power increased from VND2.2 trillion in 2010 to VND11 trillion in 2023. The profit in 2023 reached over VND600 billion, and the average income of the years after have always been higher than the years before, from nearly VND6 million per person per month in 2009 to VND17.22 million in 2023, ensuring stable jobs for nearly 2,000 workers in the corporation.

Over the past 15 years, Vinacomin Power has always organized training programs to improve the professional qualifications and skills of the staff, resulting in safe and effective operation of its power plants.

Thanks to its early participation since the operation of the Vietnamese electricity market, the Vinacomin Power has contributed to the transparency of Vietnam’s competitive electricity market, and to ensuring the national energy security.