Hanoi (VNA) - The PetroVietnam Power Corporation (PV Power), asubsidiary of the Vietnam Oil and Gas Group (PetroVietnam), has completed plansfor the construction of four liquefied natural gas (LNG)-fired power plants.

According to information presented at the company’s annual generalmeeting of shareholders on June 12, the four projects are the Nhon Trach 3,Nhon Trach 4, Mien Trung 1, and Mien Trung 2 thermal power plants, which willbe equipped with mixed-flow gas turbine technology and use LNG.

Nhon Trach 3 and Nhon Trach 4 have a capacity of 1,500MW each and are locatedat the Ong Keo Industrial Park in the southern province of Dong Nai’s NhonTrach district. They are projected to meet rising power demand in Ho Chi MinhCity and Dong Nai and Ba Ria-Vung Tau provinces.

Located at the Chu Lai Industrial Zone in the central province of QuangNam’s Nui Thanh district, Mien Trung 1 and 2 are both expected to have acapacity of 750MW each, with each consuming about 820 million cubic metres offuel per year.

PV Power aims to generate 21.6 billion kWh of electricity this year andearn over 35.4 trillion VND (1.52 billion USD), with pre-tax profit to surpass2.39 trillion VND.

The meeting heard that despite facing difficulties due to the COVID-19pandemic in the early months of this year, PetroVietnam’s electricity outputreached 9 billion kWh between January and May, representing 41.9 percent of thetarget set for this year. Revenue exceeded 12.9 trillion VND in the period, or 38.4percent of the annual target.

Chairman of PV Power’s board of directors Ho Cong Ky said the companyprioritises capitalising on its internal strengths, utilising other resources,and boosting international cooperation in order to become a trustworthy brandin Vietnam and in the region.

In the time to come, he went on, PV Power will continue its safe andefficient operation of coal-fired and gas-fired power plants and hydropowerplants. It will also step up investment in new projects using clean energies,such as solar power and LNG, given domestic fossil fuels are becoming increasinglyexhausted and the potential of hydropower development declining.

PV Power has supplied 200 billion kWh to the national grid since it beganoperation 13 years ago, confirming its position as the leading power supplierin the country.

It currently operates seven power plants around the country with acombined capacity of 4,205MW. In recent years it has generated over 21 billionkWh for the national grid annually.

Apart from power projects using fuel from the Ca Voi Xanh (Blue Whale)field, PV Power is also focusing on developing thermal power plants usingimported LNG, along with renewable energy projects.

Coded POW, the company’s shares became one of the 30 largest stocks bymarket value and trading liquidity on the Ho Chi Minh Stock Exchange (HoSE)early this year. It was named among the top 50 best listed companies in thecountry last year by Forbes Vietnam magazine./.