NINH BINH POWER COMPANY: A Key State-Owned Player in Vietnam’s Electricity Transmission Sector

NINH BINH POWER COMPANY LIMITED (Vietnamese: CÔNG TY TNHH MỘT THÀNH VIÊN ĐIỆN LỰC NINH BÌNH, or PCNB) is a state-owned utility enterprise responsible for electricity transmission and distribution in Ninh Binh Province, Vietnam. Established on July 18, 2003, the company has operated for more than two decades and plays a critical role in ensuring energy supply across both residential and industrial sectors.

Central to Northern Vietnam’s Energy Infrastructure

Located along Km 2 of National Highway 1A in Dong Thanh Ward, Ninh Binh City, PCNB serves as a vital energy transmission hub in northern Vietnam. Its centralized infrastructure, technical workforce, and operational experience make it an essential component of the national power grid, particularly in light of the country’s rapid industrialization and urbanization.

Stable Financial Foundation with Modest Profitability

As of the fiscal year ending 2023, NINH BINH POWER COMPANY reported total assets of USD 70.13 million, slightly down by 1.54% from the previous year. Despite this, annual sales increased by 5.76%, reaching approximately USD 194.61 million, signaling consistent electricity demand growth in the region.

While the company’s equity remained stable at USD 17.93 million, its net profit declined significantly, falling nearly 40% year-on-year to just USD 144,021. This sharp decrease follows a prior drop of over 74% in 2022, suggesting rising operational costs or margin compression in tariff-based revenue models.

Nonetheless, working capital improved sharply, reaching USD 3.14 million, a 186% jump from the previous year, offering some reassurance of the company's ability to meet short-term obligations.

Workforce and Leadership

PCNB employs a sizable team of 842 personnel, supporting the maintenance and expansion of power lines, substations, and control systems. The company is led by Director Mr. TRAN DANG SON, who oversees the firm’s operations, compliance, and coordination with Vietnam Electricity (EVN) and other government entities.

Public Utility with Strategic Importance

Although shareholder information is not publicly disclosed, PCNB is classified as a state-owned enterprise (SOE), with strong governmental oversight and integration into Vietnam’s national energy strategy. Its responsibilities extend beyond commercial returns to ensuring energy security, grid stability, and service accessibility for both urban and rural populations.

Why PCNB Matters in Vietnam’s Power Landscape

• Acts as a regional power distributor aligned with EVN directives.

• Maintains a strong asset base and consistent revenue stream from electricity transmission.

• Operates a large-scale infrastructure network in Ninh Binh Province.

• Supports national renewable energy integration and grid modernization efforts.

Trusted Utility Review by VBI

As a state-owned enterprise with a crucial role in Vietnam’s energy infrastructure, NINH BINH POWER COMPANY is a key reference point for contractors, equipment suppliers, and policy researchers. For institutions and businesses seeking due diligence, financial insights, or risk assessments on Vietnam’s electricity providers, VANGUARD BUSINESS INFORMATION LLC (VBI) offers trusted company reports and in-depth sector analysis.