Trungnam

What Trungnam does

Trungnam Group (Công ty Cổ phần Đầu Tư Xây dựng Trung Nam) is a privately-held Vietnamese conglomerate founded in 2004 and headquartered in Ho Chi Minh City, operating across five business segments: Energy, Infrastructure-Construction, Real Estate, Information Technology Electronics, and related services. The company's core product portfolio includes approximately 1.6 GW of operational renewable energy capacity spanning solar (Trung Nam Tra Vinh 165 MWp, Trung Nam Thuan Nam 450 MW), wind (Ea Nam 88 MW in Dak Lak, Dong Hai 1 in Tra Vinh), and 500kV/220kV transmission infrastructure — making it the largest private clean-energy investor in Vietnam. Beyond generation assets, Trungnam executes large-scale infrastructure projects including the 6-gate SCADA-controlled HCMC tidal flood control system (VND 10,000 billion), the Ca Na General Port (566+ ha, VND 37,000+ billion), bridges (Phuoc An, Bach Dang, My Thuan 2), and expressways (Bien Hoa-Vung Tau), with the upcoming 1,500 MW Ca Na LNG power plant (VND 57,385 billion) targeted for 2030 operation.

The group's revenue mechanics rest on three pillars: (1) long-term PPAs with state-owned Vietnam Electricity (EVN) for renewable energy sales, (2) build-transfer (BT) and public-private partnership (PPP) contracts with national and provincial governments compensated in cash or land (e.g., 3 land plots worth ~VND 2,500 billion for the HCMC flood control project), and (3) future LNG power generation and port-logistics transaction fees. Go-to-market is exclusively enterprise-government field sales, with no commercial retail or digital channels; deals are won through direct negotiation, international competitive bidding (Ca Na LNG being the first private-enterprise win under Power Development Plan VIII), and EPC execution. The integrated energy-port-real estate model enables cross-subsidization, with real estate monetization tied to BT-contract land compensation. Technology stack relies on tier-1 OEM partnerships — ENERCON gearless wind turbines (4.0 MW/unit), Siemens inverters and 500kV transformers, Hitachi Energy integration, and SANY construction equipment — combined with proprietary SCADA systems for the tidal barrier infrastructure.

Name

Trungnam

Legal name

Công ty Cổ phần Đầu Tư Xây dựng Trung Nam

Website

https://trungnamgroup.com.vn

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Trungnam Group is a privately-held Vietnamese conglomerate operating renewable energy generation (~1.6 GW), large-scale BT/PPP infrastructure (flood control, ports, bridges, expressways), real estate development, and an upcoming 1,500 MW LNG power plant, serving Vietnamese national and provincial government clients plus state-owned EVN.

Ownership category

akta.pro rank

Product category

Renewable Energy and Infrastructure Construction

NAICS

Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Land, Water & Mineral Rights for Renewables (Water Rights, Geothermal Resource Rights) (EUAMAAAI)

akta.pro secondary industry

Energy & Renewables Specialty Contracting (Solar PV, Storage, EV Charging) (IMAFALAJ)

Keywords

• Renewable energy generation
• Infrastructure construction
• Power transmission systems
• Port operations
• Real estate development

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Renewable Energy Generation and Sales: Trungnam generates and sells electricity from wind, solar, and hydro power plants to the national grid under power purchase agreements (PPAs) with EVN. The group has nearly 1.6 GW of renewable energy capacity connected to the national grid, generating recurring revenue from electricity sales.
2. Infrastructure Construction (BT/PPP Contracts): Revenue from build-transfer (BT) and public-private partnership (PPP) infrastructure projects including flood control systems, bridges, expressways, and ports, where the company constructs and transfers assets to government authorities, often receiving land or cash compensation.
3. LNG Power Generation: Future revenue stream from the 1,500 MW Ca Na LNG thermal power plant, expected to contribute 9 billion kWh/year to the national grid upon completion in 2030.
4. Port and Logistics Operations: Revenue from port operations at Ca Na General Port, including cargo handling, logistics services, and storage facilities.
5. Real Estate Development: Revenue from real estate projects on land compensated through BT infrastructure contracts, including residential and commercial development (e.g., Golden Hills urban area in Da Nang, land plots in Ho Chi Minh City received for the flood control project).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Trungnam Group is a Vietnamese private conglomerate that develops, owns, and operates renewable energy power plants (wind, solar) with approximately 1.6 GW connected to the national grid, builds critical national infrastructure under government BT/PPP contracts (tidal flood control systems, bridges, expressways, deep-water ports), and develops urban real estate. The company also has a 1,500 MW LNG power plant project under development and operates an integrated industrial-energy-port complex at Ca Na.

Product overview

Trungnam Group is a Vietnamese private conglomerate operating across five business segments: Energy, Infrastructure, Construction, Real Estate, and Information Technology Electronics. The company's energy portfolio (core product) includes approximately 1.6 GW of renewable energy capacity connected to the national grid, comprising solar power plants (Trung Nam Tra Vinh 165 MWp, Trung Nam Thuận Nam 450 MW), wind farms (Dong Hai 1 in Tra Vinh, Ea Nam in Dak Lak), and the upcoming 1,500 MW Ca Na LNG power plant. Trungnam also develops critical infrastructure including tidal barrier systems for HCMC, ports (Ca Na General Port), bridges, and expressways. The real estate segment includes urban developments like Golden Hills and commercial buildings like DITP Tower. The product ecosystem operates as an integrated model where renewable energy, transmission infrastructure, ports, and industrial zones are developed in synergy to maximize value creation.

Differentiator

Problem solved

Functional benefit

Brands

• Trungnam: Parent brand for energy, infrastructure, construction operations
• Trungnam Power
• Trungnam E&C
• Trungnam SMC
• Trungnam Land

Products and services

• Wind Power Plants (Điện Gió) Utility-scale wind power generation facilities including Dong Hai 1 (Tra Vinh) and Ea Nam (Dak Lak) wind farms, using ENERCON gearless turbines rated at 4.0 MW per turbine. Electricity is sold to EVN under long-term PPAs.
• Solar Power Plants (Điện Mặt Trời) Utility-scale solar power generation facilities including Trung Nam Tra Vinh (165 MWp) and Trung Nam Thuận Nam (450 MW) in Ninh Thuận, equipped with Siemens inverters designed to operate above 40°C without efficiency loss. Electricity is sold to EVN.
• Ca Na LNG Power Plant

Quantifiable outcome

• 1.63 GW of renewable energy contributed to national grid by October 2021, leading private enterprises in Vietnam
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Sideros RivercoreStrategic or Co-development Partner · 10 April 2026Trung Nam - Sideros River Consortium was established to develop the Ca Na LNG Thermal Power Plant (1,500 MW) and Ca Na General Port. Sideros River is a co-investor and development partner in this major energy-port integrated complex project. The consortium signed the investment and business contract with Khanh Hoa Province People's Committee on April 10, 2026.
• Hitachi Energy (formerly Hitachi SE)majorTechnology or Integration · 14 May 2021Trungnam Group and Hitachi Energy signed a strategic cooperation agreement for technology and integration partnerships in energy infrastructure projects, leveraging Hitachi's global expertise in power systems and automation.
• Trungnam SMCminorStrategic or Co-development Partner · 27 March 2021Trungnam SMC signed logistics service contracts for Trungnam Group's wind power projects, providing specialized logistics for wind turbine components and oversized cargo.
• SANY GroupmajorTechnology or Integration · 7 November 2020Trungnam Group and SANY Group signed a strategic cooperation agreement including equipment handover ceremonies, with SANY Group providing construction machinery and equipment for Trungnam's renewable energy and infrastructure projects.
• ENERCON (Germany)majorTechnology or Integration · 8 May 2020ENERCON, Germany's leading wind turbine manufacturer, supplies gearless wind turbine technology to Trungnam's wind power projects. Trungnam uses Enercon turbines rated at 4.0 MW/turbine (among the largest onshore turbines in Vietnam), which can operate at wind speeds as low as 2.5 m/s.
• SiemensmajorTechnology or Integration · 8 May 2020Siemens supplies INVERTER technology and solar radiation conversion equipment for Trungnam's solar power plants, including the 450MW Thuận Nam solar project. Siemens also supplied two 500kV/900 MVA transformers for Trungnam's transmission substation, the largest transformer capacity in Vietnam.

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Vingroup: Vietnam's largest private conglomerate operating across real estate, hospitality, retail, automotive (VinFast), and education. Comparable to Trungnam as a diversified Vietnamese private conglomerate with both real estate and energy-adjacent businesses, though with significantly greater scale and public-market visibility.
• PetroVietnam Power (PV Power): State-owned power generation arm of Vietnam Oil and Gas Group (PVN), operating a diversified thermal (gas, coal), renewable, and LNG-fired power portfolio. The dominant state-owned competitor to Trungnam's planned 1,500 MW Ca Na LNG plant and a benchmark for Vietnam's incumbent power-generation landscape.

Direct peers

• B.Grimm Power: Thai-based Independent Power Producer with significant renewable (solar, wind, hydro) and gas-fired generation capacity across Vietnam and Southeast Asia. Like Trungnam, B.Grimm operates as a private-sector IPP selling into national grids under long-term PPAs, and has been a leading foreign entrant in Vietnam's renewable transition.
• Saigon Newport Corporation: Vietnam's largest port operator, managing deep-water container and bulk terminals nationwide. Comparable to Trungnam through its Ca Na General Port operations — both operate Vietnamese deep-water port assets serving oversized industrial and energy-project cargo.
• Gemadept Corporation: Listed Vietnamese port and logistics operator (HSX: GMD) handling container terminals, inland logistics, and real estate. Comparable to Trungnam's port and logistics operating segment through parallel deep-water port operations and integrated logistics-real-estate business models in Vietnam.
• Hoa Binh Construction Group: Listed Vietnamese general construction and EPC contractor (HSX: HBC) executing large-scale civil, industrial, and infrastructure projects including bridges and high-rises. Comparable to Trungnam's construction and EPC capabilities on PPP/BT-type infrastructure delivery (expressways, bridges, industrial facilities).
• Vinaconex: One of Vietnam's largest state-owned construction and infrastructure contractors, executing civil works, hydropower, real estate, and PPP infrastructure projects. Overlaps with Trungnam in infrastructure-construction segment, hydropower-adjacent experience, and as a counterpart in Vietnam's state-contracted infrastructure delivery market.
• Xuan Thien Group: Vietnamese private conglomerate with overlapping business activities in renewable energy (solar farms in Ninh Thuan), heavy industry, ports, and real estate development. Similar to Trungnam as a top-tier Vietnamese private-sector player pursuing large-scale renewable IPP projects integrated with industrial infrastructure.

Regional players

• AC Energy (Ayala Corporation): Philippine-headquartered renewable IPP under Ayala Corporation with a Southeast Asia renewable platform spanning solar, wind, and battery storage — including projects in Vietnam and Indonesia. Comparable to Trungnam as a private/independent renewable developer scaling utility-scale capacity across emerging Asian markets.

Emerging players

• Novaland Group: Major Vietnamese listed residential and urban real estate developer (HSX: NVL). Comparable to Trungnam's real estate development segment (Golden Hills, DITP Tower, BT-compensated land bank) as a substantial Vietnamese urban-property developer, though Novaland's exposure to consumer credit cycles is higher.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/anhtuan.tnp
• LinkedInlinkedin.com/company/trungnamgroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

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 Trungnam