09:25 | 11/05/2018 Industry
(VEN) - The Power Generation Corporation 1 (EVNGENCO 1) will focus on harnessing fuel sources for the operation of thermal power plants to ensure sufficient power supplies in the 2018 dry season. Electricity demand is growing at around 11 percent a year in Vietnam, which relies largely on coal-fired and hydro power plants.
In the first quarter of the year, the corporation’s power output reached nearly 7.77 billion kWh, equal to 22.6 percent of the yearly plan, including nearly 1.97 billion kWh from hydropower and more than 5.8 billion kWh from thermal power.
Total value of investment-construction volume in power projects owned by EVNGENCO 1 reached more than VND3.18 trillion in the first quarter of the year, while those invested by the parent company, Electricity of Vietnam (EVN), stood at around VND738 billion. The corporation is urgently completing projects and deploying capital for additional key projects.
At the end of March 2018, the corporation submitted an equitization plan to EVN. The subsidiary has completed its value evaluation and reported to the steering committee for equitization of EVNGENCO 1. In addition, EVNGENCO 1 has implemented various measures to improve its business performance and labor productivity.
To ensure sufficient power supplies in the 2018 dry season, the corporation will strive to produce 9.73 billion kWh of electricity in the second quarter of the year, including more than 1.9 billion kWh from hydropower and 7.83 billion kWh from thermal power.
The corporation has signed coal-trading agreements with the Vietnam National Coal-Mineral Industries Holding Corporation Limited and the Dong Bac Coal Corporation under the Ministry of National Defense. In terms of those using imported coal, the corporation has agreements with at least two contractors to jointly supply fuel sources.
In addition to ensuring fuel sources, the corporation has focused on management and maintenance. EVNGENCO 1 is striving to complete the dismantling of the FGD system damaged by fire at the Duyen Hai 3 coal-fired power plant.
In the second quarter of the year, the corporation will also implement power-saving programs, further promote equitization, strengthen ash consumption, and deploy solutions to reduce coal consumption in thermal power plants.