Gia Lai Electricity

Name

Gia Lai Electricity

Legal name

Công ty Cổ phần Điện Gia Lai

Website

https://geccom.vn

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)

akta.pro secondary industries

Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI), SCADA, Controls & Communications Integration (RTU, Fiber, Networking) (EUAEADAD), Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro) (EUAMAGAB), Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI)

Keywords

• Renewable energy generation
• Hydropower operations
• Solar power plants
• Wind power generation
• Power plant O&M services

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Electricity Generation and Sales: GEC generates and sells electricity from its portfolio of hydropower (13 plants, 81-90 MW), solar (06 plants, 309 MW), wind (05 plants, 260 MW), and rooftop solar (35 systems, 35 MW) plants to Vietnam's national grid under government-regulated Feed-in Tariffs or PPA arrangements. This is the core revenue stream.
2. O&M and Asset Management Services: GEC provides comprehensive Operations & Maintenance (O&M) and asset management services for solar, wind, and hydropower plants owned by third parties. Services include monitoring, maintenance, reporting, and technical consulting. Revenue from external service customers reached 5.3 billion VND in 2023. The company has over 350 MWp of solar PV O&M experience.
3. Electrical Testing and Technical Services: GEC provides electrical testing services (testing of electrical equipment per Decree 107/2016/ND-CP), inspection services for electrical devices (per Circular 33/2015/TT-BCT), and technical consulting including measurement, maintenance advisory, and technical reports. Revenue from technical services to external customers reached 5.3 billion VND in 2023.
4. I-REC Certificate Sales: GEC offers I-REC (International Renewable Energy Certificate) certificates that allow organizations to claim renewable energy consumption as part of their Net Zero journey, covering the entire value chain from suppliers to end consumers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Gia Lai Electricity Joint Stock Company (GEC) owns and operates a diversified portfolio of renewable energy power plants — including run-of-river hydropower, utility-scale solar, rooftop solar, and wind farms — primarily in Vietnam and Laos, selling generated electricity to the national grid under regulated Feed-in Tariffs and Power Purchase Agreements. Alongside generation, GEC sells standalone Operation & Maintenance (O&M), asset management, electrical testing, and technical services to third-party power plant owners, and trades International Renewable Energy Certificates (I-REC) to corporate buyers.

Product overview

GEC operates a multi-faceted renewable energy portfolio spanning three core power generation types: Hydropower (13 plants, 81 MW), Solar Power (6 plants, 309 MWp), and Wind Power (5 plants, 260 MW), complemented by 35 rooftop solar systems. The company provides integrated O&M services for solar and wind plants, electrical testing services, and technical engineering services for hydropower facilities. This platform-plus-services model enables GEC to offer comprehensive renewable energy solutions from development through operation, supported by a value chain covering project development, legal compliance, design, construction, and commercial operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Hydropower Generation (run-of-river) Generation of electricity from run-of-river hydropower plants in Vietnam, sold to the national grid and provincial power companies under PPAs.
• Utility-scale Solar Power Generation Generation of electricity from utility-scale solar farms in Vietnam and Laos, sold under PPAs to EVN and provincial utilities.
• Wind Power Generation Generation of electricity from wind farms in Vietnam; GEC ranks among the top three wind power owners in the country by installed capacity.
• Rooftop Solar Systems Distributed rooftop solar installations, part of GEC's diversified renewable generation portfolio in Vietnam.
• Solar Power Plant O&M Services Operation and maintenance of solar power plants on behalf of third-party owners, leveraging GEC's SCADA-based remote monitoring and centralized camera system.
• Wind Power Plant O&M Services Operation and maintenance of wind power plants for third-party owners, applying GEC's centralized monitoring and field service capabilities.
• Asset Management Services for Power Plants Asset management of solar, wind, and hydropower plants for third-party owners, covering performance optimization, reporting, and lifecycle planning.
• Electrical Testing Services Electrical testing services for power plants and grid equipment, including protection relay testing, thermography, insulation testing, and commissioning support, performed by GEC's in-house electrical lab.
• Technical Services for Hydropower Plants Technical advisory and engineering services for hydropower plants, drawing on GEC's 35+ years of operational experience in run-of-river generation.
• I-REC Renewable Energy Certificates Issuance and sale of International Renewable Energy Certificates (I-REC) under the Evident Registry, sold to corporate buyers for RE100 and ESG reporting, including via the Syre platform.

Quantifiable outcome

• 768 MWp of installed and developing renewable energy capacity — 4x growth from 2018
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Syre (Sweden)minorStrategic or Co-development PartnerGia Lai province (where GEC is based) has pledged to work with Swedish textile recycling company Syre to resolve hurdles for direct renewable power purchases for a planned $1 billion polyester recycling complex. Syre aims to source 100% renewable electricity, with total demand potentially reaching 200 MW by 2050.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• BIM Group: BIM Group is a Vietnamese conglomerate with significant hydropower and solar generation assets. Directly comparable to GEC as a domestic diversified renewable IPP serving EVN under regulated PPAs, with similar hydro-solar-wind portfolio diversification.
• Trung Nam Group: Trung Nam Group is one of Vietnam's largest private renewable energy developers, particularly in solar and wind power. Comparable to GEC in serving Vietnam's grid under PPAs and pursuing utility-scale renewable expansion.
• Vena Energy: Vena Energy is a Singapore-headquartered renewable IPP with substantial wind and solar capacity in Vietnam and across Southeast Asia. Closely comparable to GEC in operating renewable assets under long-term PPAs within Vietnam's regulatory framework.
• ACEN Corporation: ACEN is the Philippines-listed renewable energy platform of the Ayala Group, actively expanding wind and solar capacity in Vietnam. Comparable as a regional renewable IPP building diversified hydro/solar/wind portfolios across Southeast Asian markets.
• SCatec ASA: SCatec is a Norwegian renewable energy developer with operating solar assets in Vietnam. Comparable to GEC as a foreign-invested renewable IPP operating within Vietnam's regulated PPA framework, with similar technology focus on solar and storage.
• Gelex Group: Gelex Group is a Vietnamese listed industrial conglomerate that has expanded into renewable energy via acquisitions of solar and wind assets. Comparable to GEC as a domestic IPP building renewable generation portfolios tied to EVN off-take.

Emerging players

• Mainstream Renewable Power: Mainstream (now part of Aker Solutions) developed offshore and onshore wind projects in Vietnam. Comparable to GEC's emerging offshore wind plans as a foreign developer pursuing utility-scale wind development in Vietnam.

Broad incumbents

• Sembcorp Industries: Sembcorp is a Singapore-listed energy and urban development company with renewable energy operations across Southeast Asia including Vietnam. Comparable as a broader incumbent utility with diversified generation including renewables and gas.
• Engie: Engie is a global utility with renewable energy investments across Southeast Asia including Vietnam. Comparable as a broad incumbent with renewable IPP operations and corporate renewable PPA capabilities relevant to GEC's I-REC business.

Regional players

• Sky X Solar (Skyx Solar): Sky X Solar is a Vietnam-based solar developer focused on distributed and rooftop solar projects. Comparable to GEC's rooftop solar segment and overall renewable EPC capabilities within the Vietnamese market.

Market position

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@geccom
• Facebookfacebook.com/geccom.vn
• LinkedInlinkedin.com/company/gia-lai-electricity-joint-stock-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gia Lai Electricity