Hoa Phat Energy Joint Stock Company, part of the Hoa Phat ecosystem, has announced the addition of a new business sector in selling electricity to consumers. Located in Hai Phong, Hoa Phat has developed activities for electricity transmission, distribution, and sales. Notably, Hoa Phat generates electricity from waste heat in steel production, providing about 90% of the energy needed for steel production. In the first half of 2025, the generated electricity amounted to over 1.8 billion kWh, valued at nearly 3.5 trillion VND. In 2024, the group saved 5.4 trillion VND in electricity costs thanks to self-produced energy. Additionally, according to the Politburo’s Resolution 70, Hoa Phat will enhance competition and transparency in the electricity market, expanding choices for electricity consumers. The company produced 31,800 tons of steel daily in August, an increase of 34% compared to the same period last year.
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