Pha Lai Thermal Power Joint Stock Company, formerly known as Pha Lai Thermal Power Plant, is a company specializing in producing electricity from natural coal fuel. The company is located in Chi Linh Ward, Hai Phong City, 56km northeast of Hanoi, close to the northern corner of Highway 18 and the left bank of Thai Binh River. The company started construction on May 17, 1980 with a capacity of 440MW, including 4 turbine generators and 8 boilers in blocks of two boilers - one machine, each machine 110MW. Pha Lai Thermal Power Company had the largest power plant in the Northern power system at that time, with high technical and economic indicators. The units of Pha Lai Thermal Power Plant were put into operation one after another, promptly responding to the strong growth rate of load in the 1980s. From 1989 to 1993, the power output of the plant gradually decreased as the units of Hoa Binh Hydropower Plant were gradually connected to the Northern grid. Since 1994, when the 500kV North-South transmission line was established, unifying the power system in the whole country, the Pha Lai Thermal Power Plant was increasingly exploited.

On June 8, 1998, Pha Lai 2 Thermal Power Plant started construction on the remaining site of Pha Lai Thermal Power Plant. Pha Lai 2 Thermal Power Plant has a total capacity of 600 MW, including 2 units, each with a capacity of 300 MW, annual power output of 3.68 billion kWh; coal consumption of 1.6 million tons/year; Unit 1 was put into operation in early 2001 and completed in the third quarter of 2001. Pha Lai 2 is the largest thermal power plant in Vietnam with modern equipment designed and built to meet international standards on environmental protection. When completed, Pha Lai 2 Thermal Power Plant together with Pha Lai Thermal Power Plant will significantly increase the capacity of Vietnam's power system to meet the increasing demand for electricity, promoting the national electrification program.