Public attention is increasingly focused on Song Ba Ha Hydropower Joint Stock Company, following the involvement of several company executives with authorities and the appointment of interim management.
According to Tien Phong reporters, Song Ba Ha Hydropower Plant is operated by Song Ba Ha Hydropower Joint Stock Company (stock code: SBH), headquartered in Tuy Hoa Ward, Dak Lak Province.
The company was established in October 2005 as the Preparatory Board for Song Ba Ha Hydropower Plant Production under the Hydropower Project Management Board 3. By June 2006, it was transferred to the Hydropower Project Management Board 7.
Approved by Vietnam Electricity Group, the company was officially incorporated on December 27, 2007, with an initial charter capital of over 1.24 trillion VND.
Key shareholders include: EVNGENCO 2 (majority-owned by Vietnam Electricity) with 61.78%, REE Energy Company with 25.76%, Southern Power Corporation, Central Power Corporation, and Da Nhim – Ham Thuan – Da Mi Hydropower JSC with 7.21%, 3.22%, and 1.03% respectively. The remaining shares are held by individual investors.
Audited financial reports for 2024 show pre-tax profits of 306.45 billion VND, with post-tax profits at 273.55 billion VND.
This year’s performance has been robust, with Q3 post-tax profits rising by 63 billion VND, a 50% increase year-over-year. This growth is driven by an 88 billion VND revenue increase (35.65%), attributed to a 92 million kWh rise in commercial electricity output (47%). Additionally, a 10 billion VND reduction in total costs has significantly improved financial efficiency.
Public interest intensified on November 29 when the company issued a temporary resolution on executive leadership.
The Board of Directors (BOD) appointed Mr. Nguyen Dinh Vu, Deputy Head of Technical and Safety Department, to oversee department operations during the head’s absence for official inquiries.
Mr. Nguyen Hong Viet, Head of Planning and Materials Department, will support Mr. Vu in technical and safety matters, particularly regarding reservoir operations and inter-reservoir management in the Ba River basin.
Mr. Nguyen Thanh Lam, Deputy Director of the Operations Division, will manage the division during the director’s absence for official inquiries.
The BOD has authorized its Chairman to oversee company operations and act as the legal representative during General Director Nguyen Duc Phu’s leave and engagement with authorities.
According to Tien Phong, the current BOD Chairman is Mr. Vu Huu Phuc, and the General Director is Mr. Nguyen Duc Phu.
On July 7, 2025, SBH appointed Mr. Phu as General Director for a five-year term, following his 17-year tenure as Deputy General Director.
Homes in the lower Ba River region submerged during the recent historic flood.
Located on the Ba River in Song Hinh and Son Hoa districts (Dak Lak Province) and Krong Pa district (Gia Lai Province), the plant’s reservoir covers 54.66 km², capturing 79.4% of the river’s total basin area (11,115 km²).
The plant contributes 220MW to the national grid, with a guaranteed capacity of 33.3MW and an average annual output of 825 million kWh. It also supports flood control and downstream water supply.
During the recent historic floods, the plant released record volumes of water. On November 19, at 4:00 PM, inflow reached 16,120 m³/s, with 16,100 m³/s discharged downstream. By 8:00 PM, the reservoir level hit 105.05m, with inflow at 16,120 m³/s and outflow at 15,600 m³/s. This led to severe flooding in downstream Dak Lak, disrupting lives and livelihoods.
Dak Lak’s Civil Defense Committee reported 63 deaths, 8 missing persons, over 150,000 flooded homes, and 120 collapsed structures. Agricultural losses included 3 million livestock, 180,000 hectares of crops, 127,000 aquaculture cages, and 100 hectares of shrimp farms, totaling 5.5 trillion VND in damages.
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Revised Introduction:
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According to the Q3/2025 financial report, Song Ba Ha Hydropower Joint Stock Company (UPCoM: SBH) saw a 51% surge in post-tax profit compared to the same period last year. This remarkable growth is attributed to favorable hydrological conditions, which significantly boosted commercial electricity output.
