What Southern Hydropower does

Southern Hydropower Joint Stock Company (Công Ty Cổ Phần Thủy Điện Miền Nam, ticker SHP on HOSE) is a Vietnamese publicly listed hydropower operator founded in 2004/2005 and headquartered in Bao Loc, Lam Dong Province. The company owns and operates three hydroelectric power plants — Da Siat (commercial since 2011), Da M'bri (since 2014), and Da Dang 2 (since 2015) — all located in Lam Dong Province in Vietnam's Central Highlands. Combined annual commercial electricity output ranges between approximately 600 and 665 million kWh, with reported 2025 generation revenue of 647,686 (in reported units) versus a 2022 peak of 746,102.

The business model is a single-channel B2G (business-to-government) electricity off-take structure: SHP generates power at its three plants and sells the entire output to Vietnam Electricity (EVN), the state-owned national grid operator, under regulated power purchase agreements. EVN is the sole customer, distributing SHP's output through Vietnam's national transmission grid to end consumers. Pricing is government-regulated rather than market-based and is not publicly disclosed. SHP maintains a wholly-owned hydropower subsidiary (Công Ty CP Thủy Điện Đăk R'Tík) and an administrative business location in Ho Chi Minh City established in July 2025. The company has approximately 101-250 employees and reports under Vietnamese public company disclosure standards on HOSE.

There is no disclosed proprietary software, digital platform, or technology stack beyond physical generation assets. Strategic positioning centers on stable, regulated cash flows from long-dated hydro concessions, dividend distributions to public shareholders, and operational reliability across three geographically clustered assets. Recent corporate actions have focused on leadership renewal (CEO transition in 2022), structural simplification (branch conversion in 2024), and limited geographic expansion of administrative footprint into Ho Chi Minh City. The company operates as a small-cap, narrowly focused renewable energy utility with no demonstrated diversification, no M&A activity, and no AI/technology differentiation.

Name

Southern Hydropower

Legal name

Công Ty Cổ Phần Thủy Điện Miền Nam

Website

https://shp.vn

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

Southern Hydropower (SHP) is a Vietnamese publicly listed hydropower operator that generates and sells electricity from three hydroelectric plants in Lam Dong Province exclusively to Vietnam Electricity (EVN) under regulated power purchase agreements.

Ownership category

akta.pro rank

Product category

Hydropower Generation

NAICS

Hydroelectric Power Generation (221111)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Pumped Storage Hydropower (PSH) (New Build, Expansion, Conversions) (EUAMADAJ)

Keywords

• Hydropower generation
• Renewable energy
• Electricity production
• Power generation
• Green energy

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Others

Revenue model

1. Electricity Generation and Sales: SHP generates electricity through its three hydropower plants and sells the output to the national electricity grid operator. Revenue is derived from electricity generation and commercial sales to EVN.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Southern Hydropower Joint Stock Company (SHP) generates and sells hydroelectric power from three hydropower plants—Đa Siat, Đa Dâng 2, and Đa M'bri—located in Lâm Đồng province, Vietnam. The company sells its full electricity output to Vietnam Electricity (EVN), the state-owned national grid operator, with combined annual commercial electricity production exceeding 600 million kWh.

Product overview

Southern Hydropower Joint Stock Company (SHP) is a hydropower generation company operating three hydroelectric power plants in Lâm Đồng province, Vietnam: Đa Siat, Đa Dâng 2, and Đa M'bri. The company generates and sells electricity to the national grid, with annual commercial electricity production capacity exceeding 600 million kWh.

Differentiator

Problem solved

Functional benefit

Products and services

• Đa Siat Hydropower Plant Hydropower plant located in Bảo Lâm 5 commune, Lâm Đồng province, Vietnam, operated by Southern Hydropower. Commercial operations commenced in 2011 and electricity output is sold to Vietnam Electricity (EVN) under a power purchase agreement.
• Đa Dâng 2 Hydropower Plant Hydropower plant located in Tân Hội commune, Lâm Đồng province, Vietnam, operated by Southern Hydropower. Started commercial operations in 2015 and contributes electricity output sold to Vietnam Electricity (EVN).
• Đa M'bri Hydropower Plant Hydropower plant located in Đạ Huoai 2 commune, Lâm Đồng province, Vietnam, operated by Southern Hydropower. Commenced operations in 2014 and is the largest contributor to total generation, with electricity sold to Vietnam Electricity (EVN).

Quantifiable outcome

• Annual electricity generation capacity exceeding 600 million kWh

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Electricity of Vietnam - Southern Power Corporation (EVN SPC)moderateOthersEVN SPC serves as the parent organization for union activities and worker support programs. The company receives visits and support from EVN SPC's labor union for employee welfare activities at the hydropower plants.

Scale indicators7 records

Recent moves9 records

Expansion highlights3 records

Direct peers

• Vinh Son - Song Hinh Hydropower JSC: Vietnamese listed hydropower operator that runs multiple run-of-river plants in southern Vietnam and sells its output to EVN under the same regulated PPA framework as SHP. Directly comparable in scale, regulatory model, and customer concentration.
• Thac Ba Hydropower JSC: Listed Vietnamese hydropower company operating the Thac Ba reservoir plant and selling output through EVN's grid. Comparable to SHP as a regulated, single-buyer hydropower IPP in Vietnam.
• Song Ba Hydropower JSC: Small Vietnamese hydropower operator that sells generation to EVN under regulated PPAs. Similar in asset scale and operating footprint to SHP, with comparable exposure to hydrology and single-buyer risk.
• Central Hydropower JSC: Vietnam-listed hydropower company operating multiple small-to-medium hydro plants and selling power exclusively to EVN. Comparable to SHP in business model, asset size, and dependence on government-regulated tariffs.

Broad incumbents

• Hoa Binh Hydropower: One of Vietnam's largest hydroelectric plants, operated as part of the EVN group. Useful as a scale and benchmark reference for Vietnamese hydropower economics, although materially larger than SHP's three-plant portfolio.
• Electricity of Vietnam (EVN): Vietnam's state-owned national power utility and the sole off-taker of SHP's output. Although not a competitor in generation, EVN defines the regulatory tariff framework, dispatch priorities, and counterparty risk profile that govern SHP's economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=cSOeyBdYgIE

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Southern Hydropower