A host of renewables groups are getting down to business to reach operation faster Malaysia-based JAKS Resources Bhd. that is investing in the 1,200 megawatt Hai Duong thermal power plant in Vietnam, has inked a memorandum of understanding (MoU) with Vietnam-based Licogi 13 to acquire a power plant project as well as participate in future joint ventures for other solar and wind energy projects. In a filing to the stock exchange, JAKS said the MoU was to acquire the 49.5MW Lig-Quang Tri Solar Power project (LQT) that will come into operation at the end of June in the central province of Quang Tri. JAKS did not disclose the acquisition value, claiming that the consideration for the solar power project will be subject to negotiations between the parties. JAKS said the power purchase agreement (PPA) for LQT was executed on October 23, 2018 and that the project has a life time of 50 years. “Presently, the plant is complete and is awaiting connection to the national … [Read more...] about Upbeat outlook for M&A in Vietnamese solar power sector
Power sector
Power sector undergoes transformation
Nguyen Van Vy, deputy chair of the Vietnam Energy Association, said the power sector has reached an advanced regional level of science and technology, with various research results successfully applied in trade and production. Specifically, scientific and technological achievements have helped turbine units of coal-fired thermal power plants achieve capacity of 600-660MW, while roller compacted concrete technology has been used in building hydropower plants. In addition, modern and advanced technologies have helped reduce power losses to less than eight percent. The Vietnam Electricity (EVN) has also put into operation a Supervisory Control and Data Acquisition (SCADA) automatic energy management system that monitors power outages and restoration in the National Load Dispatch Center and its subsidiaries, contributing to the safe operation of the power grid. According to the Department of Science and Technology under the Ministry of Industry and Trade, the power sector has strengthened … [Read more...] about Power sector undergoes transformation
Southern power sector strives for reliable power supply
(VEN) - The Southern Power Corporation (EVN SPC) has upgraded its system to ensure power supply reliability, meeting the needs of trade and production and improving people’s living conditions. Ensuring reliable power supply Power load has continuously increased in 21 southern provinces and cities. In the whole region, commercial power output reached 66.5 billion kWh in 2018, an increase of nearly 10.1 percent compared to the previous year. The highest daily output reached 213.95 million kWh and the largest consumption capacity reached 10,430MW. Nguyen Phuoc Duc, deputy general director of the EVN SPC, said power system capacity in the region has improved significantly, benefitting production, industry, agriculture, trade and services. In 2018, the system average interruption duration index (SAIDI) reached 708.11 minutes, while the momentary average interruption frequency index (MAIFI) reached 0.42 times. Implementing power projects The EVN SPC has put into operation a … [Read more...] about Southern power sector strives for reliable power supply
Power sector urged to attract non-state resources
The inauguration ceremony of Thai Binh 1 thermal power plant, Ha Noi, February 14, 2019 - Photo: VGP/Quang Hieu The Government chief made the point on February 14 while attending the inauguration ceremony of Thai Binh 1 thermal power plant. PM Phuc said that the national power grid has been able to meet domestic demand and have reserve capacity for national energy safety and security. Viet Nam’s total power productivity touches nearly 48,000 MW, ranking second in the Southeast Asian region (after Indonesia) and 31st position in the world. Over the past 15 years (2003-2018), 40 power plants were put into operation, producing 21,000 MW. The Thai Binh 1 thermal power plant has leading quality in Viet Nam. With 600 MW output capacity, it applies modern technology and ODA source from the Japanese Government, which is able to supply 3.3 billion kWh a year for the national grid. The US$ 1.27 billion project was put into operation after four years of … [Read more...] about Power sector urged to attract non-state resources
Power sector tickers prove alluring
Many power firms have reported rosy business performance amid the power sector’s growing liberalisation which has fuelled market competition and bolstered the efficiency of production and business. The power demand in Vietnam is forecast to grow by 10 per cent per annum during 2018-2020 According to Le The Son, chief accountant of Pha Lai Thermal Power JSC (ticker PPC), the company’s after-tax profit in the fourth quarter is expected to surpass VND100 billion ($4.4 million), driving its full-year profit to approximately VND1 trillion ($43.5 million), a sharp jump compared to one year ago and more than 50 per cent higher than the projected target. In the first three quarters of this year, PPC raked in VND5.277 trillion ($229.4 million) in revenue and VND878.5 billion ($38.2 million) in after-tax profit, up 14 and 18 per cent on-year, respectively. By the end of the third quarter of 2018, PPC reported nearly VND1.8 trillion ($78.3 million) in undistributed profit … [Read more...] about Power sector tickers prove alluring