09:50 | 13/06/2016 Companies
(VEN) - The PetroVietnam Nhon Trach 2 Power Joint Stock Company (PVPower NT2) achieved successful results in generating and trading in electricity in recent years. This is a source of encouragement for the company to take major solutions to achieve new achievements in coming years. PVPower NT2 believes its commercial electricity output would exceed 25 billion kWh in 2016 to welcome its ninth birthday and fifth year of successful commercial electricity generation.
Efforts to fulfill 2016’s tasks
Last year due to the heavy impacts of El Nino, Southern Central, Central Highlands, and Southeastern provinces had to cope with the worst drought over the last four decades. The production output of hydropower plants depends directly on the rainfall and the flow of water in rivers. Therefore, El Nino has become a real threat as Vietnam’s hydropower output decreased six percent in 2015 due to this natural phenomenon. This year hydropower plants continue to face difficulties, especially during the dry season in the central and southern regions, due to prioritized water supplies for irrigation needs and people’s lives in areas around lower sections of rivers.
To contribute to ensuring national energy security, PVPower NT2 has strived to achieve the highest possible electricity output. In the first four months of this year its power output exceeded monthly plans. In April, the company contributed 483.3 million kWh of electricity to the national grid, equal to 115.67 percent of the monthly plan. In the first four months, the output reached 1.82 billion kWh, equal to 41 percent of the annual plan.
With its annual output reaching about 5.5 billion kWh of electricity, PVPower NT2 has contributed to ensuring national energy security, affirming its position in the national power network, especially in the Southeastern region.
Creating growth impulse for ensuing years
Following active preparations, on May 5, 2016, PVPower NT2 and the Chemical Industry Engineering Joint Stock Company (CECO) signed a consulting contract to prepare a feasibility study report on recovering exhaust fumes from the Nhon Trach 2 Power Plant to produce commercial liquid carbon dioxide. In Vietnam liquid carbon dioxide has for a long time been recovered from the exhaust fumes of nitrogenous fertilizer, sugar, and ethanol plants. But so far no power plant has participated in this activity.
The demand for use of liquid carbon dioxide in manufacturing mechanical products, boats, steel structures, as well as in processing food and beverage is high, while Vietnam has to import this product mostly from China at very high transportation costs. PVPower NT2 can utilize clean exhaust fumes from its power plant and technical facilities as well as space to produce liquid carbon dioxide for sale in the southeastern region.
The recovery of exhaust fumes to produce liquid carbon dioxide will help enhance the efficiency of the entire technological line at the Nhon Trach 2 Power Plant, thus improving the efficiency of PVPower NT2. Through feasibility study, the company would like to show its policy to promote sustainable development based on environmental friendliness. If it is successful, the project will allow the company to recover a considerable amount of carbon dioxide to reduce greenhouse gas emissions and contribute to protecting the environment. Its determination to implement this project reflects the company’s response to the Paris climate agreement which was achieved at the 21st Conference of the Parties, COP21, with Vietnam being a participant.
Under the adjusted Power Development Master Plan VII, the installed capacity of the national power network is set to reach 60,500MW by 2020, with oil and gas-fueled thermoelectric plants to account for 14 percent. The network’s installed capacity is set to reach 95,400MW by 2025 and 129,500MW by 2030. Sufficient and stable power supplies are crucial to economic development in the Southern Key Economic Zone. PVPower NT2 General Director, Dr. Hoang Xuan Quoc, said that following the guidance of the Ministry of Industry and Trade, the company and other units of the oil and gas sector were taking urgent action to finalize a master plan to develop a series of gas and power projects in the Thi Vai-Nhon Trach area along with the construction of the Nhon Trach 3 and 4 combined cycle gas turbine power plants. These projects are environmentally-friendly, highly efficient and require low investment. If these projects are implemented on schedule, they will contribute to ensuring sufficient power supplies to meet growing demand in the post 2020 period when business investment in the Southern Key Economic Zone increases.
The availability of about 20ha of land that has been cleared and adequate infrastructure and human resources will help the company save considerable amounts of money and time when building the Nhon Trach 3 Power Plant. Having its share listed in the VN30 Index on the Ho Chi Minh Stock Exchange, PVPower NT2 can seek low-interest loans from export credit agencies. It has become a reliable customer of domestic and foreign financial institutions.
Advanced, flexible management methods, experienced specialists and engineers, and young, enthusiastic workers are advantages making PVPower NT2 confident of its ability to further develop as a pioneer in gas-fired power generation in coming years.
In 2015 PVPower NT2 ranked 123rd among the top 500 Vietnamese businesses; received the Fast 500 Award, and a high-profile banner from the Ministry of Industry and Trade; was one of the 10 businesses to receive a certificate of merit from the Vietnam General Confederation of Labor; received the Strong Brand Award, and the National Quality Award; and was listed among the 10 most trusted businesses in Vietnam.
The company achieved these results thanks to the leadership of its general director, Dr. Hoang Xuan Quoc. For his creativity, decisiveness, and flexibility, he was honored as one of the 10 prominent businesspersons of the oil and gas sector in 2015 and received the Second-class Labor Order in March 2016.