Nguyen Duc Ninh, Director of the National Power Regulation Centre, has said Vietnam will cut its renewable electricity capacity due to oversupply.

The Vietnam Electricity Northern Power Corporation (EVNNPC) has been recently assigned a Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘BB’ with a Stable Outlook by Fitch Ratings.

Deputy Prime Minister Trinh Dinh Dung on January 12 lauded the Vietnam Electricity (EVN) for its efforts in ensuring electricity supply for socio-economic development, as well as daily activities.

Construction of the expanded Hoa Binh hydropower plant began in the northern mountainous province of Hoa Binh on January 10, with Prime Minister Nguyen Xuan Phuc attending the ground-breaking ceremony.

A ceremony was held in Hanoi on January 8 to honour 500 largest enterprises in Vietnam (VNR500) and top 10 prestigious companies in 2020.

The Vietnam Electricity Group (EVN) is planning to have all equipment on transmission lines and 80% of 110 kV circuit facilities digitalised from now to 2022.

The Ministry of Planning and Investment has proposed special policies for large State-owned enterprises (SOEs) to make them spearheads in key industries of the economy.

Vice State President Dang Thi Ngoc Thinh, on behalf of the Party and the State, presented the “Labour Hero in Renewal Period” title to Electricity of Vietnam (EVN) in recognition of its contributions to national socio-economic development at a ceremony in Hanoi on December 21.

Despite slow disbursement of foreign loans, that of public investment has become faster, contributing to making the country’s positive economic growth target feasible for the year.

The Vietnam Electricity (EVN) is eyeing the operation of a competitive retail electricity market in 2021 following its official run of a competitive wholesale market since 2019.