Deputy General Director of A Vuong Hydropower Arrested Over Past Violations at Vinh Tan 4 Thermal Power Plant

The investigative arm of the Vietnamese police has formally prosecuted and detained Mr. Pham Dinh Quang, currently serving as the Deputy General Director of A Vuong Hydropower Joint Stock Company, over criminal offenses linked to his previous tenure at the Vinh Tan 4 Thermal Power Plant. The news broke following an official notification received by A Vuong Hydropower on November 4, sending ripples through the domestic energy sector and prompting immediate clarifications from corporate stakeholders regarding the scope and implications of the ongoing legal proceedings.

According to preliminary disclosures from investigative authorities, the criminal case against Mr. Quang is directly tied to administrative and operational decisions made during his leadership tenure at the Vinh Tan 4 Thermal Power Plant, located in Binh Thuan Province. While the specifics of the allegations have not yet been fully detailed in public legal indictments, law enforcement agencies are examining potential irregularities and management discrepancies during his time at the plant.

In response to the developments, A Vuong Hydropower Joint Stock Company (UPCoM: AVC) issued an official statement assuring investors, regulatory bodies, and the public that the investigation centers exclusively on Mr. Quang’s personal conduct and past professional activities. The company emphasized that the legal actions taken against its Deputy General Director have no connection to, nor do they impact, the ongoing business operations, financial stability, or strategic projects of A Vuong Hydropower.

A Professional Trajectory Spanning Decades in Vietnam’s Power Sector

Mr. Pham Dinh Quang is a veteran figure within Vietnam’s state-backed electricity production ecosystem, possessing a career spanning numerous technical and managerial roles across major power generation assets. Before assuming his current executive position at A Vuong Hydropower, Mr. Quang accumulated substantial operational expertise within the sector, notably serving as the Deputy Director of the Power Plant Repair Services Company under Power Generation Corporation 3 (EVNGENCO3 – UPCoM: PGV).

His career trajectory within the Vinh Tan complex began in earnest in December 2018, when he was appointed Deputy Director of the Vinh Tan 4 Thermal Power Plant. Alongside his executive responsibilities at the plant, Mr. Quang also took on key political and organizational duties, serving as the Deputy Secretary of the plant’s Party Committee. During his tenure, the facility played a crucial role in supplying baseline power to the southern grid of Vietnam, a region characterized by high industrial demand and rapid economic growth.

After years of service at the thermal facility, Mr. Quang transitioned to a new executive challenge. On January 1, 2024, he was officially appointed as the Deputy General Director of A Vuong Hydropower Joint Stock Company under a five-year mandate. His departure from Vinh Tan 4 marked the end of a pivotal five-year chapter in his career, culminating in the recent legal actions taken by police investigators reviewing his past oversight responsibilities.

Background and Scale of the Vinh Tan 4 Thermal Power Plant

The Vinh Tan 4 Thermal Power Plant represents a foundational component of the broader Vinh Tan Power Center, a massive energy hub situated in Tuy Phong District, Binh Thuan Province. Developed and overseen by Vietnam Electricity (EVN), the country’s state utility monopoly, the power center has been a cornerstone of national energy security, particularly for the southern economic zone.

The primary Vinh Tan 4 project comprises two large-scale generating units, each boasting a capacity of 600 megawatts (MW), bringing the total initial capacity of the plant to 1,200 MW. According to official inauguration data released by EVN, the plant required a total investment capital of approximately VND 36,000 billion. Designed to consume domestic coal resources efficiently while adhering to environmental standards of its era, the facility has an estimated annual design electricity output of roughly 7.2 billion kilowatt-hours (kWh).

Construction on the main Vinh Tan 4 plant commenced on March 9, 2014. Following rigorous testing and commissioning phases, the plant achieved commercial operation for its generating units, reaching full commercial operation status by March 31, 2018. An official inauguration ceremony was subsequently held on September 21, 2019, cementing its role in the national power grid.

Recognizing the rising power demands of the country, EVN subsequently expanded the complex by investing in the Vinh Tan 4 Expansion project. This auxiliary venture added a single 600 MW generating unit with an investment outlay of approximately VND 23,927 billion. Commercial operations for the expansion unit officially commenced in October 2019. Combined, the Vinh Tan 4 and Vinh Tan 4 Expansion projects command a total operating capacity of 1,800 MW, backed by an aggregate capital investment approaching nearly VND 60,000 billion.

Corporate Profile and Financial Position of A Vuong Hydropower

A Vuong Hydropower Joint Stock Company operates as a significant regional power producer with a charter capital valued at approximately VND 750.5 billion. The ownership structure of the company is heavily anchored by state-affiliated entities within the broader EVN corporate hierarchy. Specifically, Power Generation Corporation 2 (EVNGENCO2) acts as the parent company, holding a commanding 87.45% stake in A Vuong Hydropower, thereby retaining strategic control over its governance and operational directives.

Executive leadership at A Vuong Hydropower features Mr. Luu Ngoc Mai Phi as the Chairman of the Board of Directors, while Mr. Cao Huy Bao serves as the company’s Chief Executive Officer. Despite leadership changes and routine corporate developments, the enterprise has maintained steady operational output, driven by hydrological conditions and stable power purchase agreements with the national grid.

Financial reports indicate that A Vuong Hydropower maintains a resilient business standing. During the third quarter of 2026, the company posted net revenues of nearly VND 200 billion, representing a modest decrease of 2.4% compared to the corresponding period in the previous year. However, bottom-line profitability expanded, with net profit after tax reaching slightly over VND 101 billion, marking a year-on-year increase of nearly 5%.

For the first nine months of 2026, A Vuong Hydropower accumulated net revenues of nearly VND 463 billion, reflecting a minor contraction of roughly 4% relative to the same period in 2025. Net profit after tax for the nine-month period stood at approximately VND 198 billion, down 2% year-on-year. These figures underscore a steady financial posture that has remained insulated from the external legal troubles facing individual members of its senior management team.

Broader Implications and Ongoing Investigation Context

The arrest and prosecution of high-ranking corporate executives within state-linked energy enterprises reflect an ongoing, rigorous enforcement environment across Vietnam’s critical infrastructure sectors. As regulatory bodies and investigative agencies continue to scrutinize administrative procedures, procurement processes, and project management decisions from past infrastructure booms, corporate governance standards face heightened scrutiny.

Legal analysts point out that while corporate entities frequently issue statements distancing themselves from the personal liabilities of arrested executives, the psychological and operational fallout can temporarily impact stakeholder confidence. For A Vuong Hydropower, the immediate priority remains the uninterrupted execution of its hydropower generation mandates, ensuring that administrative leadership transitions or legal proceedings involving individual personnel do not disrupt daily energy supply obligations.

As the investigative process advances, further details regarding the specific nature of the allegations against Mr. Pham Dinh Quang are anticipated to be released by judicial authorities. In the interim, market observers and energy sector stakeholders will continue to monitor how these legal proceedings unfold, assessing potential broader ramifications for governance practices across Vietnam’s state-owned and joint-stock power generation enterprises.