VietnamCredit About Us Cafe€redit Contact Us
Go to cart
Top 9 renewable energy companies in Vietnam in 2022

Top 9 renewable energy companies in Vietnam in 2022

Thursday 22, 12 2022
The top 9 renewable energy enterprises in Vietnam in 2022 is made by VietnamCredit based on research results, independent evaluation from the database of the Ministry of Industry and Trade, EVN, VEA, VER and general information based on actual business results of enterprises.


Sao Mai Group Corporation was established on February 5, 1997. On January 18, 2010, the company's shares were officially traded on HOSE. The company has strengths in the field of construction, energy and seafood. Currently, Sao Mai owns a land fund of more than 200 hectares.

In 2021, Sao Mai Group recorded VND 11,398 billion in net revenue and VND 703 billion in profit after tax, up 23% compared to the previous year.

Vietnamcredit Sao Mai Group Corporation

In the first 6 months of 2022, Sao Mai recorded a total revenue of VND 7,250 billion, an increase of about 38% compared to the first half of 2021. Its profit after tax reached VND 441.2 billion, up 115% over the same period. Thus, Sao Mai has completed 50% of the planned target for the whole year 2022.


The company was formerly Line and Station Construction Enterprise established in 1963. During its development process, this company has changed its name many times, and in 2005, after completing the equitization, it officially operated under the name PC1 Group Joint Stock Company (PCC1).

PCC1 is the only company operating in the field of construction and installation of power lines and power stations in Vietnam. During the nearly 60 years of establishment and development, many projects have been undertaken, implemented and completed by the company.

In addition, PCC1 also participates in the construction of hydroelectric power plants, completing many fiber optic and telecommunications line systems. Currently, the company has 2 factories manufacturing galvanized steel structures equipped with modern machinery systems and is the largest company in Vietnam in the field of galvanized structures.

In the fields of energy investment, PCC1 affirms its professional investment capacity through always-ready resources, advanced technology, professional management processes, and quality and progress control. Up to now, PCC1 has successfully operated 7 hydropower plants with a total capacity of up to 170 MW, reaching a total investment of up to VND 5,000 billion.

Along with hydropower plants, so far, PCC1 has developed renewable energy projects such as wind and solar power with a target of generating capacity of 744MW by 2025, actively contributing to ensuring energy security, well meeting the country's clean energy demand. Currently, wind power projects invested by PCC1 include: Phong Huy wind power project, Lien Lap wind power project, Phong Nguyen wind power project with a capacity of 48MW in Quang Tri.

Vietnamcredit PC1 Group Joint Stock Company

The company’s total revenue in 2021 increased by 47% while profit before tax increased by 37% compared to 2020. Specifically, its revenue reached VND 9,813 billion, up 47% compared to 2020 and completed 123% of the whole year plan.

Its revenue in 2022 is expected to reach VND 9,073 billion, and profit before tax to reach VND 764 billion, equal to 92% and 86% of 2021 respectively.


Trung Nam Construction Investment Corporation was established on November 12, 2004, with a charter capital of VND 3,000 billion. The company operates in the field of Energy, Infrastructure and Real Estate.

With 10 subsidiaries and 3 affiliated companies operating in all provinces and cities across the country, Trungnam Group increasingly asserts its position when investing in building modern and quality works, contributing to the common prosperity of the country on the way of world economic integration.

Following are the list of Trung Nam Group’s subsidiaries and affiliated companies:
01. Trungnam Power
02. Trungnam Krong No
03. Trungnam Wind Power
04. Trungnam BA Power
05. Trungnam Solar Power
06. Trungnam Land
07. Trungnam Dalat Land
08. Trungnam E&C
09. Trungnam 18 E&C
10. Trungnam SMC
11. Trungnam BT 1547 
12. MPE
13. Bach Dang BOT JSC

Despite its huge scale, Trungnam Group's business fluctuates quite erratically with a thin profit margin of only a few hundred billion per year in the period 2017-2020. By 2021, Trungnam Group recorded a revenue of VND 8,788 billion, down 14.5% over the same period, but profit after tax suddenly increased to VND 2,105 billion, the highest in the past 5 years.

Vietnamcredit Trung Nam Construction Investment Corporation

In the strategic direction, Trung Nam Group will continue to invest in many energy projects. Specifically, by 2025, the group aims to increase its ownership capacity to 3.8 GW of renewable energy and 1.5 GW of LNG power, with expected revenue of more than USD 1.5 billion.


Over 35 years of operation in the field of survey, design, supervision and construction management of power source and grid projects, Power Engineering Consulting Joint Stock Company 2 (PECC2) has continuously developed and become one of the leading brands in the energy industry in Vietnam.

PECC2's business activities currently include Power construction consulting, Trading and Investment in power projects. PECC2 is the investor of many renewable energy projects, and have completed commercial power generation of many solar power plants.

Vietnamcredit Power Engineering Consulting Joint Stock Company 2

In the first 6 months of 2022, PECC2 recorded net revenue of VND 629.68 billion, down 63% compared to the same period last year. Accordingly, profit after tax reached VND 31.3 billion, down 68.7%.

In terms of business plan, in 2022, it sets a target of total revenue of VND 1,927 billion, profit before tax of VND 125 billion, down 48% and 63% respectively compared to last year's audit results.


Phuong Anh Investment Construction and Trading Co., Ltd, formerly known as Phuong Anh Private Construction Enterprise, was established on April 5, 2000. The company mainly operates in the field of construction of traffic, technical infrastructure, civil and industrial.

In 2009, Phuong Anh was appointed to implement the project to build a road connecting the two provinces of Thai Binh and Ha Nam with the Cau Gie - Ninh Binh expressway with a total investment of VND 4,721 billion.

Vietnamcredit Phuong Anh Investment Construction and Trading

Phuong Anh has expanded its investment into the field of renewable energy. It decided to focus on investing in wind power development in Bac Lieu province where there was the first offshore wind power project in Vietnam. Currently, the company has invested in 3 projects with a capacity of 50 MW each in this province.


Established in 2011, Bamboo Capital Group JSC (BCG) is considered as one of the leading multi-industry investment companies in Vietnam with more than 30 member companies and associates.

BCG is operating in 4 main fields of Renewable Energy, Manufacturing and Agriculture, Construction and Trade. Bamboo Capital is evaluated as a corporation with stable financial capacity, and a reputable brand name.

According to Mr. Nguyen Ho Nam, Chairman of the Board of Directors of BCG, its grid-connected solar power plants have transmitted large capacity, leading to an impressive contribution of revenue from this segment.

Regarding the company’s business performance, in the third quarter of 2022, BCG recorded net revenue of VND 1,176.7 billion, up 157.2% over the same period last year. However, its profit after tax decreased by 81.9% to VND 39.5 billion VND.

For the renewable energy business segment, in the third quarter, BCG Energy continued to build and completed the Krong Pa 2 solar power project in Gia Lai province.

In parallel with solar power projects, BCG Energy is still following the plan of implementing wind power projects in Ca Mau and Tra Vinh.

Currently, those plants are in the process of constructing substations, connection lines and test piles in order to be ready for the construction phase of the marine plant once the new electricity price policy is issued.

Vietnamcredit Bamboo Capital Group JSC

As of September 30, 2022, BCG's total assets reached VND 43,752 billion, a slight increase of 16.1% compared to the beginning of the year, mainly from the increase in long-term investment assets.

In 2022, BCG sets a revenue target of VND 7,250.6 billion; profit after tax of VND 2,200.3 billion. Thus, after 9 months, BCG has completed 45.7% and 40.2% of annual revenue and profit targets.


Gia Lai Electricity Joint Stock Company (GEG) was established in June 1989. The main production activities of the company are the production, transmission, distribution and trading of electricity. GEG officially operated as a joint stock company in 2010.

GEC currently owns hydroelectric, solar and wind power plants with a total generating capacity of about 600 MW.

According to the financial report for the second quarter of 2022, as of June 30, AVH Pte. Ltd. is currently the largest shareholder in the company holding 20.76% shares and International Finance Corporation is the third largest shareholder with 13.74% shares.

The newly released financial report also shows that GEG’s net revenue reached VND 506 billion, up 58% mainly thanks to the wind power plants that have come into commercial operation.

In the revenue structure, 12 hydropower plants contributed VND 168 billion, accounting for 17% of the system's revenue; 5 solar power plants and 34 rooftop systems contributed VND 439 billion, accounting for 44% of revenue and 130-MW wind power plant contributed VND 390 billion, accounting for 39% of revenue.

Vietnamcredit Gia Lai Electricity Joint Stock Company

However, due to the increase in cost of goods and especially financial expenses, in which interest expense increased by 64% to VND 145 billion, the profit after tax of the enterprise decreased by 46.7% to VND 39 billion. In 6 months, the company achieved revenue of VND 1,076 billion and profit after tax of VND 213 billion, up 72% and 42% respectively over the same period. Thus, the company has completed 57% of the profit plan for the whole year.


Kosy Joint Stock Company (Kosy) was established on March 10, 2008, with the key field of real estate business. Currently, Kosy is the investor of many urban projects in provinces and cities across the country.

The company’s net revenue in 2021 reached VND 1,154.3, profit before tax reached VND 30.3 billion. In the period of 2022 - 2025, the company is expected to deploy 15 new real estate projects, bringing in VND 5,000 - 6,000 billion in profit.

Vietnamcredit Kosy Joint Stock Company

Investing in electric energy companies helps to ensure a stable and steady flow of revenue and profit to Kosy for the implementation of potential energy and real estate projects such as: Kosy Wind Power Bac Lieu phase 2 - 50 MW (offshore), Kosy Lam Dong storage, Hanoi Kosy urban area, Kosy Ha Tinh urban area, Kosy Riverside Lao Cai urban area and other projects in many provinces in the coming year.


Formerly an engineering and electromechanical contractor, IPC Engineering and Construction Joint Stock Company(IPC E&C) under IPC Group has taken on the job of EPC General Contractor for hundreds of renewable energy projects in Vietnam.

With a strategy of developing clean and sustainable energy projects, besides being general contractor, IPC E&C is a project developer and O&M contractor for EPC projects and other single projects. Up to now, IPC E&C's projects have reached 1.3GW of total installed capacity, including 700MW of wind power, 650MWp of farm solar power, 50MWp of rooftop solar power, and substations up to 500MWa and hundreds of kilometers of power transmission lines.

Vietnamcredit IPC Engineering and Construction Joint Stock Company

Besides wind and solar power projects, IPC E&C provides full EPC services for small and medium capacity hydroelectric plants, and expands its operation scale to provide BOP services for coal power plants, LNG, garbage power, industrial plants and EPC services on fire protection and environment for water and waste treatment plants.

Henry Tran – VietnamCredit


You may also like

Wednesday 25, 12 2019


This 10 companies are selected by main segment and their market share within...
10 largest seafood enterprises in Vietnam
Monday 21, 10 2019

10 largest seafood enterprises in Vietnam

The aquaculture sector has always been the spearhead of the Vietnam’s economy...
+84 981861066