PV Power signed cooperation agreement with GE

Within the framework of a business trip to the United States, on May 11, 2022, PetroVietnam Power Corporation (PV Power) and General Electric Corporation (GE) signed a cooperation agreement on Development solution to improve the efficiency of the existing Nhon Trach 1 Power Plant and long-term cooperation on maintenance of Nhon Trach 3 & 4 Power Plant.

Vietnam Prime Minister Pham Minh Chinh and The U.S Secretary of Commerce Gina Raimondo grace the event with their attendance

PV Power's representative is Mr. Le Nhu Linh - General Director; on the GE side, there is Mr. Mark Albenze - Vice President, Services - Selling & Operations of GE Gas Power. Nhon Trach 1 Power Plant is a combined cycle power plant owned and operated by PV Power since 2009. The main equipment of the plant manufactured by GE is currently operating quite efficiently. With a capacity of 450MW, Nhon Trach 1 annually contributes about 2.5 billion kWh of electricity to the national grid on average. After years of operation, now the need to improve the operating efficiency of Nhon Trach 1 Power Plant is in urgent. Both PV Power and GE will develop solutions in parallel with providing equipment to improve the performance of Nhon Trach 1 Power Plant. This will be a key factor in reducing production cost, improving capacity and output from that increases the overall profit for PV Power. PV Power and GE also agree to continue their discussions and negotiations in order to finalize a long term maintenance agreement for Nhon Trach 3 & 4 Power Plant. In order to support the promotion of localization and technology capture, the two sides will collaborate on a training program for the maintenance activities, at the moment for Nhon Trach 3 & 4 Power Plant and will be expand to other plants of PV Power. Previously, on March 14, 2022, PV Power and GE also signed a Framework Agreement (HOA) on long-term maintenance of Nhon Trach 3 & 4 Power Plant. This agreement is a demonstration of the long-term collaboration between PV Power and GE and which seeks to improve PV Power’s capability and the sustainable development of power generating facilities in Vietnam.

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