With the objective to meet partially the actual increasing power demand in Viet Nam and to contribute to the economic development of country, Southern Power Corporation (SPC) and their partners decided to establish Southern Hydropower Joint Stock Company (SHP) on 29 May 2004, working on investment in hydropower projects, operating and managing hydropower plants, producing and trading electricity, supervising construction of hydropower plants and installation of hydropower plant equipments.
On 13 July 2004, Department of Planning and Investment of Ho Chi Minh city signed the license No 4103002486 allowing SHP to officially operate with the registered charter capital VND 250 billion equivalent 2.5 million stocks (par value of VND 100.000 per share). From that time, SHP proceeded to construct two hydropower plants in Lam Dong province.
The Đa siat Hydropower plant situated in Bảo Lâm Dist has 2 turbines with capacity of 13,5 MW.
The Da Dâng 2 situated in Lam Ha and Duc Trong dist has 2 turbines with capacity of 34 MW
At the annual general meeting 2006, SHP shareholders approved of constructing another hydropower plant named Đa M'bri, with capacity of 75 MW and annual electricity generation of 338 million kWh, located in Bao Lam, Da Houai, Da Ten district, Lam Dong province.
In June 2006, SHP increased the chartered capital to 687 billion VND equivalent 68, 7 million stocks (par value of VND 10.000 per share).
At the annual general meeting 2009, SHP shareholders approved to increase chartered capital to 937,1 billion equivalent 93,71 million stocks (par value of VND 10.000 per share).
From September 2010, Southern Hydropower Joint Stock company's shareholders can do transaction of shares on Upcom with stock code SHP.
In January 2010, Đa siat hydropower plant has come into operation. This plant annually produces 59, 34 million kWh of electricity.
Đa Dâng 2 hydropower plant has come into operation in October 2010 and annually generates 152 million kWh of electricity.
Actually SHP focuses on construction to finish its Đa M'bri hydropower project and put this plant into operation in 2013.
The total cost of 03 projects Đa siat, Đa Dâng 2, Đa M'bri is 2.729,2 billion of VND.