State utility EVN's subsidiary EVNGENCO3 achieves over 32% of year's power output target in 4 months

Power Generation Joint Stock Corporation 3 (EVNGENCO3), a subsidiary of state utility Vietnam Electricity (EVN), had completed over 32% of its electricity production plan in the first four months of 2025.

Notably, the Vinh Tan 2 Solar Power Plant in former Binh Thuan province (now Lam Dong province after a merger) achieved 40% of its planned output.

In its production and business report for April and the first four months of 2025 sent to investors, EVNGENCO3, listed on the Ho Chi Minh Stock Exchange as PGV, said in April alone, its power output reached 2.77 billion kWh, bringing the four-month cumulative total to 9.57 billion kWh, an increase of 3.1% from the same period last year.

In April, the parent company EVNGENCO3 generated an estimated VND4.17 trillion ($158.9 million) in revenue from electricity production. Cumulatively, for the first four months of 2025, its electricity production revenue reached approximately VND14.53 trillion ($553.9 million), up about 8% year-on-year. With this result, the parent company has fulfilled 29.39% of the year's revenue plan.

The firm reported that in April, its power plants operated safely and reliably, meeting the system's power demand well. Coal supply for power generation was stable, and the average gas price for Phu My thermal power plants in former Ba Ria-Vung Tau province (now part of Ho Chi Minh City) dropped significantly compared to the previous month.

During the first four months, Phu My Thermal Power Plant continued to contribute the largest share of revenue, at 41.8%, followed by Vinh Tan Thermal Power Plant 28.4%, Mong Duong Thermal Power Plant 27.5%, and Buon Kuop Hydropower Plant 2.3%.

May power output target exceeds 3.3 billion kWh

According to the national power supply and system operation plan assigned by the Ministry of Industry and Trade, EVNGENCO3's planned power output for May is 3.327 billion kWh. Of this, the parent company is expected to contribute nearly 2.95 billion kWh, with the remaining 378 million kWh coming from subsidiaries and affiliates.

The corporation stated it will continue to work closely with partners and proactively ensure fuel supply during the peak of the 2025 dry season. It will also maintain operation and maintenance (O&M) activities at Phu My 3 and Phu My 2.2 power plants, ensuring safe, stable, and efficient plant operations.

In addition, EVNGENCO3 is actively promoting investment cooperation in developing new power source projects, including the Ninh Binh flexible power plant, and offshore wind, solar, and LNG power projects. In April, the company signed an MoU with HCMC-based Subcritical Material Co., Ltd. (SCM) on cooperation in green biomass energy transition, seeking investment opportunities and market expansion for alternative green fuels.

Furthermore, preparations for the 2025 AGM are being actively carried out by EVNGENCO3. The meeting is scheduled to be held on June 10 morning.