PetroVietnam Power Corporation (PV Power) targeted to reach a production output of more than 5.6 billion kWh in the last quarter of this year to fulfill the full year’s plan.

The company reported that it produced a total output of 16.038 billion kWh from January to the end of September, meeting 74 per cent of the plan for the full year.

PV Power’s electricity output mainly came from Ca Mau 1, Ca Mau 2, Nhon Trach 1, Nhon Trach 2 and Vung Ang 1 plants.

PV Power also owned Nam Cat, Hua Na and Dakdrinh hydroelectric plants.

PV Power said that it would continue to hasten capital divestment from inefficient projects.

After successfully organising an initial public offering in January, PV Power reported revenue and pre-tax profit of VND24.8 trillion (US$1.06 billion) and VND1.8 trillion, respectively in the first nine months of the year, equivalent to 106 per cent and 124 per cent of the annual plant.

It earned after-tax profit of VND1.4 trillion and contributed more than VND1 trillion to the State budget.

PV Power produces around 10 per cent of Viet Nam’s total power output. — VNS