Find capital supply channels before investing in power projects

New investment projects

Updated to the end of May 2025, the overall progress of the EPC package of Nhon Trach 3&4 Power Plant Project is estimated to be 99% complete. The general contractor consortium successfully conducted the first firing at Nhon Trach 4 Power Plant Project in early June 2025. Previously, Nhon Trach 3 Power Plant also conducted the first firing and completed the technical milestone of running continuously for 24 hours at the base load level of the combined cycle with maximum load capacity.

According to information from the Vietnam Oil and Gas Power Corporation (PV Power) - the project investor, Nhon Trach 3 is expected to generate commercial electricity (COD) in the third quarter of 2025, while Nhon Trach 4 will generate commercial electricity by the end of this year.

“Nhon Trach 3&4 Power Plants have had an official power purchase agreement (PPA) since September 2024. PV Power is reviewing and proposing amendments to the PPA according to new regulations issued by the Government and the Ministry of Industry and Trade ,” the leader of this power company said at the general meeting of shareholders in April 2025.

The adjusted Power Plan VIII will be a great opportunity for the energy industry in general and PC1 in particular thanks to the increased energy demand and a more transparent investor selection mechanism.

- Mr. Trinh Van Tuan, Chairman of Board of Directors of PC1 Group

The company's leaders also said that the minimum electricity output (Qc) is determined to be no lower than 65% of the average electricity output over many years. The expected selling price in 2025 of these two plants could be at VND3,006/kWh.

PV Power is not the only listed company in the electricity industry to increase its power capacity in the coming time. According to the plan, REECorp will complete and put into operation a 48 MW wind power plant in November 2025; add a 30 MW hydropower plant in the third quarter of 2026 and is expected to generate power in early 2027. REECorp also expects to win bids for additional wind power projects with a plan to generate power by the end of 2026.

At the shareholders' meeting of Power Generation Corporation 3 (EVNGENCO3), the investment and construction plan for the coming period was also shared. Accordingly, EVNGENCO3 plans to cooperate in investing with an investment portfolio of more than 6,105 MW in the period 2025-2031. EVNGENCO3 alone plans to invest a total capacity of 305 MW, including the Buôn Kuốp Lake floating solar power project (50 MW), the Serépok 3 Lake floating solar power project (50 MW), the Buôn Kuốp Hydropower Plant Expansion (140 MW) and the Serépok 3 Hydropower Plant Expansion (110 MW). All of the above projects have been approved in the adjusted Power Plan VIII.

In fact, over the past few years, hundreds of investors have been lining up to apply for investment licenses in renewable energy, waiting for the power planning to be approved, as well as the guiding decrees and circulars.

According to the assessment of the leaders of PC1 Group at this year's shareholders' meeting, the adjusted Power Plan VIII will be a great opportunity for the energy industry in general and PC1 in particular thanks to the increased energy demand and a more transparent investor selection mechanism. This enterprise has proposed a strategy to develop 800 MW of renewable energy by 2030.

Meanwhile, Vingroup , in March 2025, also decided to "encroach" on this field. In an official dispatch sent to the Government, Vingroup proposed implementing renewable energy and LNG power projects with a total capacity of about 25,500 MW, with an investment capital of 25-30 billion USD in the period 2025 - 2030.

Capital problem

In 2025, based on the assumption of an electricity elasticity coefficient/GDP of 1.5 times, electricity consumption could increase by 10.5 - 14.3% compared to the previous year. Meanwhile, electricity supply is forecast to increase by only about 7.8% compared to 2024. The imbalance between supply and demand could put great pressure on the power system, especially in the Northern region, during the peak of the dry season.

In addition, the new power plan is also an opportunity for energy businesses to take the lead in the shift to clean and sustainable energy. As shared by Vingroup's leader, one of the reasons why this group participates in the electricity sector comes from the desire to create a green ecosystem "from start to finish": electric vehicles will use environmentally friendly electricity.

Vingroup's leaders also emphasized that capital safety must be ensured when investing with a plan to use 15% of equity capital, 35% bank loans, and the remaining 50% through EPC general contracts. Similarly, in parallel with the investment goal, EVNGENCO3 is planning to develop a restructuring project for the period 2026 - 2030 according to the plan of issuing shares to increase charter capital to create development resources. Along with that, this enterprise can recover a part of the exchange rate difference revenue in the total revenue of nearly 5,400 billion VND that has not been paid in the period 2019 - 2024, thereby significantly strengthening its financial capacity.

According to calculations, in the plan to implement the adjusted Power Plan VIII, the investment capital demand by 2030 for power source investment activities is approximately 118.2 billion USD, of which the State invests 27.4 billion USD; the remaining 90.8 billion USD is considered for socialization. For transmission grid investment activities, the investment capital demand is 18.1 billion USD. It is expected that the State will invest 12.9 billion USD, and consider socializing 5.2 billion USD. Socialized capital accounts for a large proportion, especially in the power generation sector, requiring participating enterprises to have financial capacity and a methodical investment strategy.

Source: https://baodautu.vn/tim-kenh-cung-cap-von-truoc-co-hoi-dau-tu-du-an-dien-d309932.html