According to a leader of the provincial Department of Industry and Trade, the Gia Lai People’s Committee has instructed relevant agencies to support and create conditions for Vinh Thanh Pumped Storage JSC to start construction in early 2027, aiming for operation by 2030.

The project’s main components include a newly built upper reservoir with a capacity of 4.3 million cubic meters, a lower reservoir utilizing the existing Dinh Binh irrigation lake, a bidirectional water tunnel system, and reversible turbines. For grid connection, the project will construct a double-circuit 500 kV transmission line linking the plant to the Binh Dinh 500 kV substation.

The project was approved in principle by the Gia Lai People’s Committee for research and survey in late February 2025. After more than a year of study, on April 23, the investor - Vinh Thanh Pumped Storage JSC, together with its French partners, reported survey and research results, concluding that the project is highly feasible.

Once operational, the plant is expected to generate an average of 783 million kWh per year, contributing to energy security and helping stabilize the national power system.

In addition, the project is projected to contribute VND320-350 billion ($13.28 million) annually to the local budget, create 300-500 jobs during construction and 40-50 jobs during operation, and promote socio-economic development, supporting the province’s goal of sustained double-digit economic growth in the coming years.

Legally, the project, located in the former Vinh Thanh district of Binh Dinh province (now Vinh Thanh commune, Gia Lai province after the July 2025 merger), has been approved by the Prime Minister under the revised Power Development Plan for 2021-2030, with a vision to 2050 under Decision No. 768 dated April 15, 2025, and its implementation plan was passed by the Ministry of Industry and Trade under Decision No. 1509 dated May 30, 2025.

The Gia Lai People’s Committee has also incorporated the project into the revised provincial master plan for 2021-2030, with a vision to 2050 under Decision No. 2832 dated November 28, 2025. The initial timeline projected operation during 2031-2032, but local authorities are working to accelerate progress and bring the plant online by 2030.

Vinh Thanh Pumped Storage JSC was established on November 4, 2024, with headquarters on Hoang Van Thu street, Quy Nhon Nam ward, Gia Lai province (formerly Quy Nhon town, Binh Dinh province). Its main business activity is power generation.

The company has a charter capital of VND50 billion ($1.9 million). Its founding shareholders include Tong Phan Long (VND5 billion, 10%), Bui Tien Trung (VND20 billion, 40%), and Le Duc Thoa (VND25 billion, 50%).

The legal representative is Le Duc Thoa (from Thanh Hoa province), who serves as director. He is also the legal representative of La Vuong Wind Power JSC (in Gia Lai) and Gia Nghia Green Renewable Energy Investment and Trading JSC (in Thanh Hoa).