Since the decision of establishment of PV Power in 2007, the staff of PV Power has continuously grown up and overcome the many difficulties in the past ten years.
At the beginning, PVN’s business was solely to supply gas to its partners and independent investors. As of now, its business has extended to supply electricity to EVN. This is undoubtedly accounted for a huge contribution of PV Power who has now stood as the second largest electricity provider in Vietnam, just behind EVN. In terms of output, PV Power has contributed a total volume of 138 billion kWh to the national grid line. The total turnover is at 180,000 billion VND and the total profit has reached 10.000 billion VND. PV Power has contributed 9.000 billion VND to the state budget.
Besides the above achievement, another remarkable success of PV Power has to account for is its important role in contributing to the economic development of the country – the evidence is that PV Power has contributed around 13% to the total electrical output of Vietnam. In addition, PV power has brought up many positive changes to the provinces, including Ca Mau, Dong Nai, Quang Ngai, Nghe An, Ha Tinh, Bac Kan… Not only contributing to the increase of local budget, PV Power has also helped to strengthen the social security as well as to create jobs for the local labors. This is what PV Power is aiming for in order to visualize the social-economic changes, in which contributing to improving the local people’s cultural standard and lifestyle.
It is really the incomparable values
The success of PV Power in the past 10 years is definitely to be proud of and is an illustration for the staff to look up in order to achieve more success in the road of the next 10 years.
Mr. Nguyen Xuan Hoa, President & CEO of PV Power once said “Endeavor to gain more success is our obligation which is not only glorious but also a challenge for the staff of PV Power. In the coming time, we will have to complete the equitization process which is aiming to lower the state budget down to 51% and finding strategic investors, especially those who have the common interest with PV Power. In case we manage to successfully divest of 49% holdings then as expected we will earn more than 700 million USD. Later on, in the period of 2019-2020, PV Power will continuously follow as according to plan decided by the Government and MOIT which is to divest lower than its controlling level. We are focusing on strengthening the socialization as well as attracting the big investors who are experienced in operating the electricity factories and are knowledge of the market, especially the investors who have the strong financial capability in order to assist PV Power to become a stronger electricity producer and supplier.
In the near future, it shall be a great motivation for the staff of PV Power when the National Power Development Planning VII (Adjustment) - the Power Plants using natural liquid gas LNG have been gradually seen. Under the guidance of the Party, the Government and the supervised ministry besides the efficiently operating the coal-fired thermal power plant, PV Power will focus on developing gas thermal power plant. This shall be an addition to the current Power Plants including Tay Nam, Dong Nam, Bach Ho, Nam Con Son, there will be more gas sources like O Mon block B and Blue Whale Field in the central area.
Likewise, PV Power is in a ready stage to develop Nhon Trach 3 and Nhon Trach 4; Son My 2 gas power plants. These units will be using natural liquid gas LNG to produce electricity – as according to the orientation of the Prime Minister and MOIT as coinciding to the current orientation. The development of this orientation has two meanings. Firstly, this is to develop the industry coinciding with power development. Secondly, this is to develop the power industry coinciding with quality development – ensuring the greenness, cleanness and environment protection.
According to the recent report from various consultant firms, when there is a common action plan from the central government to the enterprise level, PV Power believes that using LNG technology in power generation and other industries will open a brighter future for the power market in Vietnam. Such projects will certainly reduce the pressure in the supplying sources for the country in general and for the power sector in particular. This will not only increase the supplying sources in power generation but also reduce related expenses such as environment protection, pollution settlement. Besides, PV Power has to ensure the usability and the different in usage between total installation capacity and total power supply which is increasing day after day – being at a higher level of the country. This is definitely not an easy task in the time to come.
After the ten years period of development to become the second largest power supplier in Vietnam. PV Power is planning to boost its current capacity in order to increase the contribution from 13% to around 20% of the total electrical output in the near future. In addition, the international relation is carefully considered by the management level of PV Power.
As soon as whenever the ASEAN’s countries have developed a shared market which is connected by electricity in the region, PV Power shall be ready to cooperate with partners from the neighboring countries as well as to share its own resources in a way to ensure the energy security at the highest degree.
