PV Power NT2 continues to thrive

14:22 | 30/12/2015 Companies

(VEN) - By October 20, the PetroVietnam-Nhon Trach 2 Power Joint Stock Company (PV Power NT2) had fulfilled its annual production plan for 2015 with electricity output reaching 4.29 billion kWh. Thanks to great efforts by its leadership and staff members, the company has achieved further success, significantly contributing to ensuring national energy security.

PV Power NT2 continues to thrive

PV Power NT2 General Director Hoang Xuan Quoc

Exceeding production and business targets

PV Power NT2 owns a combined cycle gas turbine thermal power plant using the most modern power generation technology. Each year, the plant supplies more than three percent of total electricity consumption in Vietnam. Thanks to nonstop efforts, the company has seen impressive growth in its production and business results. The price of company share has increased, attracting great investor attention.

PV Power NT2 fulfilled its annual production plan for 2015 on October 20, 72 days ahead of schedule. Before that, on October 11, its power plant generated the 20 billionth kWh of electricity after just four years of commercial operations.

In the first nine months of this year, the company fulfilled 81 percent of its annual sales plan, ensuring safe and effective operations of its power plant. Notably, the expenditure on production in the first nine months equaled just about 78 percent of the production cost planned for the whole year. The company achieved these results thanks to its successful participation in the competitive electricity generation market, as well as its efforts to increase productivity and prevent waste.

 Panorama of PV Power NT2

Good production and sales results and reasonable production costs brought the company considerable profits. In the first nine months of this year, PV Power NT2 earned VND691.52 billion in after-tax profit, equal to 110 percent of the annual plan.

On June 12, 2015, after eight years of operations, the company officially listed its NT2 share on the Ho Chi Minh City Stock Exchange (HOSE), marking a significant turning point in its development process. Satisfactory production and business results of the company have made its share attractive to investors. So far, PV Power NT2 has issued nearly 18 million shares to increase its equity.

In the first nine months of this year, PV Power NT2 paid its shareholders nine percent pidends - this was an impressive result for a thermal power company that has experienced commercial operations for just more than four years. The Nhon Trach 2 Power Plant is one of the best thermal power plants in Vietnam, according to electricity experts.

Dr. Hoang Xuan Quoc, PV Power NT2 General Director, attributed the company’s successful results to effective management, flexible business development policy, its young, experienced, well-trained, dynamic and creative staff, responsible workers, and a good working environment. Increases in the demand for electricity also provided a favorable condition for the company to operate its gas turbine power plant at its full capacity.

As an independent power producer, PV Power NT2 has joined the competitive electricity generation market as soon as the market was established. The participation in this market has made the company more dynamic, requiring it to take the most reasonable and effective sales solutions.

Regarding the attraction of NT2 share on the securities market, Dr. Quoc said that following the slogan “Friendliness - Effectiveness - Safety”, the company always provided investors with friendly treatment and clear, transparent information through timely reports. PV Power NT2 has established a specific pision responsible for organizing events and dealing in a professional manner with matters related to shareholder relations.

The role of company leadership

Its experienced, enterprising leadership is an important advantage of PV Power NT2. It’s undeniable that the leadership of PV Power NT2 has played a decisive role in the company’s success, helping strengthen its position among the leading businesses of the electricity and petroleum sectors.

Another factor contributing to the company’s success is the consensus and solidarity between its leadership and all staff members as well as workers.

Today’s Nhon Trach 2 Power Plant is the most modern gas turbine power plant in Vietnam, but it’s maybe unknown to many people that the place where the plant was built used to be a marshland area. The construction of the plant was completed 45 days ahead of schedule, helping save nearly US$100 million. Through its effective operations over the last nearly four years, the plant has significantly contributed to local socioeconomic development and national energy security.     

In the next five years, PV Power NT2 will expand its operations to meet the demand for electricity required for economic development in the Southern Key Economic Zone as well as the consumer demand nationwide.


Dang Hien

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