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The Gia Lai Provincial People’s Committee recently held a meeting with Vĩnh Thạnh Pumped Storage Power Joint Stock Company to discuss the Vĩnh Thạnh pumped-storage power project.
The Vĩnh Thạnh pumped-storage hydropower project is planned with a capacity of 600 MW in Vĩnh Thạnh commune, Gia Lai province. The project design includes a new upper reservoir with a capacity of about 4.3 million cubic meters, an existing lower reservoir using the Định Bình irrigation reservoir, and two-direction water tunnels with a reversible turbine unit.
Power interconnection is planned via a double-circuit 500 kV transmission line from the plant to the 500 kV Bình Định substation.
The feasibility study was approved for implementation at the end of February 2025. After more than a year of surveys, on 23 April 2026, the investor and partners from France reported the study results, assessing the project as highly feasible.
On the legal framework, the project has been approved by the Prime Minister for adjustment to Planning VIII under Decision 768 dated 15 April 2025. The Ministry of Industry and Trade continues to issue implementation plans under Decision 1509 dated 30 May 2025.
When commissioned, the plant is expected to supply about 783 million kWh of electricity per year, supporting energy security and system stability of the national grid.
The project is also expected to contribute 320–350 billion VND to the local budget annually, create 300–500 construction jobs, and about 40–50 operating jobs, supporting socio-economic development.
Gia Lai Provincial People’s Committee has updated the project in the 2021–2030 provincial plan with a vision to 2050. Under the initial plan, the project was expected to operate in 2031–2032, but the province is pursuing acceleration to commence operations as early as 2030.
Vĩnh Thạnh Pumped Storage JSC was established in November 2024, headquartered in Quy Nhơn City (now part of Gia Lai province). The company’s primary activities include power generation, with charter capital of 50 billion VND.
Founding shareholders include Mr. Tống Phan Long (10%), Mr. Bùi Tiến Trung (40%), and Mr. Lê Đức Thoa (50%). Mr. Lê Đức Thoa serves as director and legal representative of the company and is also listed as a representative in other renewable energy businesses, including Điện gió La Vuông and Năng lượng tái tạo Xanh Gia Nghĩa.
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