Hoa Phat self-supplies over 90% of steelmaking power in 10M 2026, worth an equivalent VND8.798 trillion

According to Hoa Phat Group (HPG), in the first 10 months of 2026 the power plants at its Hoa Phat Dung Quat and Hoa Phat Hai Duong iron and steel complexes generated more than 4.6 billion kWh, meeting over 90% of the two complexes' production power needs. At current electricity prices, that output is estimated to be worth VND8.798 trillion (8,798 billion dong).

Closed-loop circular technology

Notably, this power requires no extra primary fuel. Hoa Phat uses closed-loop circular technology: waste heat from coke-making and surplus gas from iron- and steelmaking are recovered to fire boilers that generate electricity. This cuts energy costs, reduces emissions and puts otherwise wasted resources to use.

Dung Quat as the backbone

The Hoa Phat Dung Quat complex has a design capacity of 12 million tonnes a year and runs two thermal power plants with 10 generating units totalling 600 MW. In the first 10 months of 2026 it generated 3.96 billion kWh, up 55% year on year. From July 2019 to October 2026, the Dung Quat plants generated a cumulative total of nearly 17 billion kWh.

At the Hoa Phat Hai Duong complex (2.5 million tonnes a year), five units with a combined 114 MW generated more than 652 million kWh in 10 months, up nearly 3% from the same period of 2025; cumulative output from 2010 to October 2026 reached nearly 7 billion kWh. Hoa Phat is installing a demineralisation system for boiler feedwater and plans an online automatic cleaning system for condenser tubes to improve efficiency.

Benefits for the company and the national grid

For steelmakers, electricity is a major input cost; supplying most of its own power gives Hoa Phat more control in the face of energy price swings. At system level, the model eases pressure on the national grid, especially during heatwave peaks, just as power demand rises with the recovery in industrial production.

Recovering waste heat and surplus gas also fits the green, lower-emission production standards that export markets increasingly expect from the steel industry.

Key takeaways

• In 10M 2026, Hoa Phat's Dung Quat and Hai Duong power plants generated over 4.6 billion kWh, meeting over 90% of production power needs, worth an equivalent VND8.798 trillion.
• Dung Quat generated 3.96 billion kWh, up 55%; Hai Duong generated over 652 million kWh, up nearly 3%.
• The closed-loop model cuts costs and emissions and eases the load on the national grid.