Song Ba Ha Hydropower Project has a capacity of 220 MW. On November 19, the plant discharged flood water up to 16,100m³/s, the highest level since the plant began operating - Photo: SBH
Song Ba Ha Hydropower Joint Stock Company has a charter capital of more than 1,242 billion VND.
Whose is the Ba Ha River Hydropower Plant?
Song Ba Ha Hydropower Joint Stock Company has a charter capital of more than 1,242 billion VND. Shareholders include: Power Generation Corporation 2 - EVNGENCO 2 (this is an enterprise in which Vietnam Electricity Group (EVN) holds controlling shares) currently holding 61.78% of charter capital; REE Energy Company Limited holding 25.76% of charter capital; Southern Power Corporation, Central Power Corporation and Da Nhim - Ham Thuan - Da Mi Hydropower Joint Stock Company holding 7.21%, 3.22% and 1.03% of charter capital respectively, the rest are individual shareholders.
Among the major shareholders of SBH, EVNGENCO 2 is the company that owns many hydropower plants such as Quang Tri, An Khe - Ka Nak, Song Bung, Thac Mo, Song Ba Ha, A Vuong, Trung Son... and thermal power plants. Meanwhile, REE Energy Company Limited also invests in 10 hydropower companies with plants such as Vinh Son, Song Hinh, Thuong Kon Tum , Thac Ba, Thac Mo, Muong Hum, Srok Phu Mieng, Binh Dien, A Luoi, Dambri, Da Dang 2, Dasiat, Nam Ban 2... Thus, the two major shareholders of SBH are investing in many hydropower plants in the Central region.
In the 2024 annual report, Song Ba Ha Hydropower Joint Stock Company said that if hydrological conditions are favorable, the board of directors will direct the board of directors to prepare well and "make the most of the water to generate high, optimal and efficient electricity output to bring the highest revenue to the company".
Currently, this enterprise is led by Mr. Nguyen Duc Phu as general director and Mr. Vu Huu Phuc as chairman of the board of directors.
The financial picture of Song Ba Ha Hydropower Plant has been positive in recent years, causing the enterprise to always pay dividends to shareholders regularly every year, some years up to 30% of charter capital.
Business situation of Song Ba Ha hydropower plant
The financial report for the third quarter of 2025 of Song Ba Ha Hydropower Joint Stock Company (SBH) shows that this enterprise achieved revenue of more than VND 334 billion in the third quarter, an increase of 36% compared to the level of VND 246 billion in the third quarter of last year. Due to the increase in revenue, profit after tax also increased by 50% to VND 188 billion in the third quarter, compared to the modest level of VND 125 billion in the same period last year.
Explaining this profit increase, SBH said that the commercial electricity output in the third quarter increased by 92.3 million kWh, equivalent to an increase of nearly 47% compared to the same period in 2024 (ie more electricity sold - PV).
From the beginning of the year until the end of the third quarter, SBH is also maintaining a good profit compared to last year when revenue reached 517 billion VND (in the same period last year it only reached nearly 381 billion VND), resulting in net profit also increasing to 271 billion VND, while in the same period last year it only made a profit of nearly 116 billion VND.
This year, SBH sets a revenue target of more than VND 821 billion, pre-tax profit of nearly VND 384 billion (in 2024 it will reach VND 306 billion).
As of the end of the third quarter, SBH's total assets reached more than VND 2,034 billion.
Below is a chart summarizing SBH's pre-tax and after-tax profits over the past years, compiled by Tuoi Tre Online :
Chart of pre-tax and after-tax profits of Song Ba Ha Hydropower Joint Stock Company over the years - Graphics: NGOC HIEN
This year, SBH will distribute profits similarly to previous years when it plans to pay dividends at a rate of 15% of charter capital, meaning the company will allocate a portion of profits to distribute to owners (shareholders).
Last year, SBH paid dividends at a rate of 15% of charter capital, equivalent to more than 186 billion VND in cash. Notably, there were years when SBH paid dividends of up to 20-30% of charter capital.
What is the scale of Song Ba Ha Hydroelectric Plant?
According to Song Ba Ha Hydropower Joint Stock Company, Song Ba Ha Hydropower Plant has a capacity of 220 MW, a guaranteed capacity of 33.3 MW, and an average annual electricity output of 825 million kWh. According to this enterprise, in addition to supplying electricity, "the project also participates in flood control and creates water sources for downstream areas".
With a capacity of 220 MW, Song Ba Ha Hydropower Plant has a fairly large capacity in the Central region, equal to about 1/11 of Son La Hydropower Plant (2,400 MW) and about 1/9 of Hoa Binh Hydropower Plant (1,920 MW).
Source: https://tuoitre.vn/nhung-thong-tin-ve-quy-mo-va-tinh-hinh-kinh-doanh-cua-thuy-dien-song-ba-ha-20251122122044027.htm
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