Work on the plant, located in My Loc commune, Thai Thuy district, began in February 2015. It costs a total of over VND26.5 trillion (US$1.17 billion), of which 85% comes from the official development assistance (ODA) of the Japan International Cooperation Agency and the rest is funded by EVN. 

Comprising two turbines with a combined capacity of 600 MW, the plant is expected provide nearly 3.3 billion kWh every year once operational. 

The plant plays a significant role in ensuring electricity for socio-economic development and industrialisation in Thai Binh province and its neighbouring localities.