Along with efforts to ensure power supply for national socioeconomic development, PetroVietnam Power Corporation (PV Power) has affirmed its foothold in the field of Vietnam’s power industry. With expected total power supply reaching over 13 billion kWh in 2011, PV Power has constructed a firm basis for long-term development for the future in the field of power production and Vietnam’s oil and gas industry.
The year 2011 is the first year of PV Power implementing the 5-year plan from 2011 to 2015, which was ratified by PetroVietnam Oil and Gas Group (PetroVietnam). For the purpose of accomplishing the set objectives, since the beginning, PV Power’s leaders have focused on steering their units to vigorously deploy their main tasks on the three key areas of: power production and power business; project improvement; and strong development of oil and gas power services.
In the midst of the current hardships of the power industry and PV Power as well, with difficulties increasing because of oil and gas price fluctuation, exchange rates, changeable weather and Vietnam’s low industrial growth, this result certainly becomes a point of pride. Numerous difficulties like tens of billions of USD of Vietnam Electricity (EVN) debts, USD exchange rate adjustment by the State and disadvantages of market shares decreasing not only restructuring capacity but also the capital rejection in the joint-stock companies have all strongly affected activities of business and production of PV Power. In order to ease these difficulties, leaders of PV Power have carried out several methods to improve efficiency of production and business, such as: Cutting current expenditures by 10 percent, and cutting off unnecessary infrastructure investments and transportation.
At the same time, PV Power has continuously proposed targeted solutions to re-organise human resources; management and administration; techniques, technologies and safety; investment strategy; and financial solutions; aiming to accomplish its targeted plans of production and business in 2011 and becoming an important premise for PV Power to step into a new development phase. In 2011, PV Power strived to reach its total power supply of 13.143 billion kWh, and attained 105 percent of the year plan. Total turnover has amounted to VND 16,715 billion, 105 percent of the year plan; total earnings have reached VND 386 billion, 106 percent of the year plan; with contributions to the state budget of VND 511 billion, 169 percent of the year plan.
As planned toward 2015, estimated overall capacity of installed power plants of the group and corporation will reach over 8,600 MW, with power supply of about 36.8 billion kWh per year. Aiming to complete the five-year plan targets for 2011 - 2015 approved by PetroVietnam as well as implement the breakthrough solutions mentioned above, PV Power will perform its key tasks, including: investment priorities for construction of gas power projects, coal power projects with high capacity, and hydro power projects in Vietnam, especially large hydro power projects in Laos and Cambodia. PV Power not only develops renewable energy and actively invests in gas power projects in countries where PetroVietnam has oil and gas exploitation, but also strongly and effectively applies high technology transfer, actively seeks high technology solutions, and takes a forerunner position in three major industries of power, consulting services and electrical engineering.
Thu Phuong
Vietnamese
