On the afternoon of January 12, 2025, in Ho Chi Minh City, Power Generation Joint Stock Corporation 3 (EVNGenco3 - Stock code: PGV) held a conference to review its Party and professional activities in 2024 and outline its tasks for 2025.

The conference was attended by Mr. Dang Hoang An, Party Secretary and Chairman of the Board of Members of Vietnam Electricity (EVN), Mr. Nguyen Huu Tuan, Standing Deputy Secretary of the EVN Party Committee, Mr. Dinh The Phuc, Member of EVN's Board of Members, Mr. Do Duc Hung, President of EVN's Trade Union, and representatives from the leadership of EVN’s Boards.

Representing the National Electricity System and Market Operation Company Limited (NSMO) were Mr. Nguyen Duc Cuong, Chairman of the Board of Members, and Mr. Nguyen Duc Ninh, Acting General Director.

Representing the Party Committee of the Central Agencies in Ho Chi Minh City were Mr. Vo Van Yen, Standing Deputy Secretary, and Mr. Nguyen Thanh Tho, Deputy Secretary.

Representing EVNGENCO3 were Mr. Dinh Quoc Lam, Secretary of the Party Committee and Chairman of the Board of Directors; Mr. Le Van Danh, Member of the Board of Directors and General Director; as well as members of the Board of Directors, Party Committee, Board of Management, Trade Union, Board of Supervisors, leaders of the Corporation's Departments, Executive Committees of Party Committees, subordinate Party Cells, and leaders of the Corporation’s member units and affiliated companies.

Overview of the Conference

In his report on the summary of Party work, Mr. Vu Quang Sang, Member of the Standing Committee of the Corporation's Party Committee, stated that in 2024, the Party Committee and leadership of the Corporation firmly led and directed the establishment of a clean and strong Party Committee, successfully fulfilling all political tasks assigned. The Party Committee effectively implemented the resolutions and directives from the superior Party Committee and its own, with 100% of party organizations successfully completing their tasks. Additionally, 14 outstanding individuals were admitted to the Party, reaching 200% of the target. All mass organizations also excelled in completing their tasks. The Party Committee accomplished 54 out of 56 objectives in its work program and completed all 5 aspects of the inspection and supervision program of the Party Committee and the Inspection Committee.

Mr. Le Van Danh, Member of the Board of Directors and General Director of Power Generation Corporation 3, delivered a report at the conference.

Reporting on the production work at the conference, Mr. Le Van Danh, General Director of the Corporation, stated that in 2024, the total electricity production output of the Corporation reached 26.437 billion kWh, achieving 91.95% of the plan approved by the General Meeting of Shareholders and 113.92% of the plan set by EVN/Ministry of Industry and Trade. The power plants operated largely stably, meeting the mobilization needs of the Power System, particularly during the peak months of the dry season in 2024, contributing to the successful completion of the task of supplying electricity for socio-economic development and meeting the public's needs. EVNGENCO3 met 8 out of 10 economic and technical targets as planned, thanks to the comprehensive implementation of various solutions, such as reducing heat loss, increasing the availability coefficient of hydropower, and lowering the self-consumption rate of coal-fired thermal power and hydropower, etc.

Throughout the year, the Corporation successfully implemented 9 major generator repair projects, along with numerous other significant repairs to auxiliary works. All of these projects were completed with high quality, on schedule, or ahead of schedule. Starting from March 1, 2024, EVNGENCO3 will assume the management, operation, repaird and maintenance of the Phu My 3 Power Plant under the Operation and Maintenance Service Contract (O&M) with EVN. Additionally, the Corporation is preparing to take over the O&M of the Phu My 2.2 BOT Power Plant, as per EVN's directive, with the expected takeover date of February 4, 2025.

In terms of construction investment, the Corporation remains focused on investing in green and clean energy, including unlocking opportunities for cooperation in liquefied natural gas (LNG) to support the operation of gas turbine power plants, signing a offshore wind power development cooperation agreement, advancing the power plant project in Ninh Binh using internal combustion engines (ICE), converting biomass fuel, and enhancing both the lifespan and environmental sustainability of power plants.

The Corporation's power plants consistently adhere to environmental protection regulations, with monitoring indicators remaining within standard limits. The ash and slag consumption rate at the Corporation's coal-fired thermal power plants in 2024 continued to achieve high levels, such as Mong Duong 1 Thermal Power Plant reaching 129% and Vinh Tan 2 Thermal Power Plant exceeding 104% of the generated volume. Notably, the installation and testing of the ash and slag separation line at Vinh Tan 2 Thermal Power Plant, with a processing capacity of 500,000 m³/year, has been completed and is expected to be officially operational in the first quarter of 2025.

The Corporation partially restructured the loan for the Mong Duong 1 Thermal Power Plant project (worth 81.5 million USD) using domestic commercial loans, helping to reduce financial costs. EVNGENCO3 was honored in the Top 20 Best Annual Reports in the Non-Financial Category at the Vietnam Listed Company Awards, which saw the participation of nearly 600 companies. On December 31, 2024, the State Capital Management Committee approved the equitization settlement of the parent company of Power Generation Joint Stock Corporation 3.

Guided by the motto "Responsibility – Compassion," alongside its annual social welfare activities, EVNGENCO3 continued to carry out programs in celebration of the 70th Anniversary of Vietnam's Power Sector's Traditional Day on December 21. These initiatives included providing scholarships, supporting 45 students who are orphaned and affected by the Covid-19 pandemic, aiding communities in the Southwest region affected by drought and salinity, funding the construction and handover of 16 charity and solidarity houses, contributing to the fund “For the Poor”, assisting those in Northern provinces affected by Storm No. 3, installing solar lighting systems, and repairing electrical systems in areas where the company operates. The total social welfare expenditure for 2024 amounted to over 11.4 billion VND.

Mr. Dang Hoang An, Party Secretary and Chairman of the EVN’s Board of Members, delivered a speech at the conference.

Speaking at the conference, Mr. Dang Hoang An, Party Secretary and Chairman of the Board of Members of Vietnam Electricity, recognized the significant contributions made by Power Generation Corporation 3 in ensuring a stable electricity supply throughout 2024. He praised EVNGENCO3's efforts and effective solutions implemented to successfully achieve its assigned goals and tasks. The Chairman emphasized the importance of prioritizing all available resources to ensure a reliable electricity supply in 2025. He further urged the Corporation to continue implementing cost-saving measures in production and construction investments, reduce fuel consumption, minimize self-consumption of electricity, and lower major repair costs at power plants. Additionally, EVNGENCO3 should take proactive steps to secure reliable gas and coal supplies to maintain safe and stable plant operations, strengthen management practices to foster a supportive production environment and expedite investment in new power projects. The Corporation was also encouraged to focus on accelerating digital transformation, applying science and technology to enhance production, operation, and repair processes, thereby contributing to Vietnam Electricity's continued success in achieving its strategic objectives in an evolving energy landscape.

Mr. Dinh Quoc Lam, Party Secretary and Chairman of the Board of Directors of Power Generation Corporation 3, delivered a speech.

In response to the direction, Mr. Dinh Quoc Lam, Party Secretary and Chairman of the Board of Directors of Power Generation Corporation 3, affirmed that EVNGENCO3 will continue to make concerted efforts to maintain electricity production. He emphasized that the Party Committee and the Board of Management of the Corporation would strengthen leadership and direction to achieve key targets for 2025, i.e. completion of the objectives and tasks of the 5-year plan, as well as the Resolution of the Corporation’s Party Congress for the 2020-2025 term, organization of all-level Party congresses, including the Party Congress of the Corporation for the 2025-2030 term; production stabilization, proactively planning of fuel supply to supplement LNG and coal sources to meet the highest demand scenarios, and provision of diesel oil; assurance of financial profits, stabilization of salaries for employees, and fulfillment of the obligations of the joint-stock company to its shareholders; and restructuring to create development resources, ensure the recovery of EVNGENCO3's market share in the power system, and contribute to increasing EVN's overall market share.

In 2025, EVNGENCO3 has set an ambitious target of 30.9 billion kWh in electricity production. The Corporation's dedicated staff will work tirelessly to fulfill the assigned tasks and plans. Collaborating closely with Vietnam Electricity, EVNGENCO3 is committed to ensuring a consistent and reliable electricity supply to support the country’s socio-economic development. This effort will also play a crucial role in strengthening national energy security.

Some photos of commendation activities at the Conference:

Mr. Dang Hoang An, Chairman of the EVN’s Board of Members, presented flowers to congratulate Buon Kuop Hydropower Company on receiving the Government's Emulation Flag.
Mr. Dang Hoang An, Chairman of the EVN’s Board of Members, presented the Emulation Flag of the State Capital Management Committee to three groups: Vinh Tan Thermal Power Company, Thac Ba Hydropower Joint Stock Company, and the Department of Finance-Accounting of the Corporation.

Mr. Nguyen Huu Tuan, Standing Deputy Secretary of the EVN’s Party Committee, and Mr. Dinh The Phuc, Member of the EVN’s Board of Members, presented the EVN Emulation Flag to Vinh Son - Song Hinh Hydropower Joint Stock Company and EVNGENCO3 Power Service Company.

Mr. Dinh Quoc Lam, Chairman of the Board of Directors of EVNGENCO3, presented EVN Certificates of Merit to eight groups: Phu My Thermal Power Company, Se San 3A Power Investment and Development Joint Stock Company, Planning Department, Department of Organization and Human Resources, Department of Construction Investment Management, Department of Business – Electricity Market, Technical – Production Department, and Department of General Affairs of the Corporation