With the firm’s primary focus on producing electricity for use in business activities whilst also creating other power sources, PV Power has set a target of becoming a strong and reputable company whose brand is known both nationally and throughout Southeast Asia.
The pathway to achieving the 200 billion kWh milestone saw PV Power's leaders unite with officials and employees to promote a positive spirit and maintain sustained efforts to fulfill all assigned tasks within the context of changes faced by the electricity industry, along with the energy, oil, and gas industry in general.
There are currently seven power plants being operated by PV Power nationwide that operate using different forms of power, such as coal, gas, and hydroelectricity, with a total combined capacity of 4,205 MW. PV Power annually provides the national grid with over 21 billion kWh of energy.
Alongside Electricity of Vietnam, the firm is ensuring both energy security and the stability of the national grid. As a result, this has contributed to greatly developing the national economy, benefiting the lives of normal citizens, and boosting the development of the country’s electricity industry.
One of the best features of the enterprise is that PV Power's power plants are always guaranteed to operate in a safe and efficient manner whilst providing high levels of availability. Fire prevention and safety at their factories and construction sites has always been a top priority.
In addition, the periodic maintenance and repair of power plants are always carried out in a safe manner at a high standard and are generally completed ahead of schedule. In order to achieve this, PV Power has focused on developing its personnel, training human resources to improve the skills of employees, and helping them stay active in the operation, management, maintenance, and repair of power plants.
These proactive tendencies have always been a feature when it comes to making plans to procure equipment and supplies, along with providing stable sources of input materials and fuels to be used in electricity production in a range of situations. This ultimately ensures operations are continued in an effective manner whilst simultaneously limiting the occurrence of incidents that could possibly lead to turbines being stopped.
Within the current context, the nation’s energy industry and its power system are facing fluctuations due to increasing electricity demand. Consequently, PV Power has moved to transform its business into a joint stock company model and has affirmed its position by fulfilling and exceeding the business targets assigned by PetroVietnam for 2019. These targets have been met across a number of different areas, including output, revenue, profits, and remittance to the state budget.
In addition, PV Power's shares coded POW, have always taken the lead in terms of liquidity among power firms that are publicly listed on the stock market.
PV Power's output of 200 billion kWh has become a memorable milestone which marks the company’s significant development. In terms of the strategic direction for development in the next phase, the company is determined to intensify investment in new power projects, continue research, expand new fuel sources, and invest in clean energy sources such as solar power and electricity using liquefied natural gas (LNG). It is hoped that these developments will fit alongside traditional types of coal-fired thermal power, gas-fired thermoelectricity, and hydroelectricity.
There is therefore a desire from the business to further promote its role in ensuring national energy security as a means of contributing to serving the life of citizens, along with developing the electricity industry and the national economy.
With this in mind, PV Power has set itself a goal of becoming a strong force within the industry whilst also enjoying efficient business production, professional management, strong finances, high competitiveness, and contributing to a greener environment.