Illustrative Image (Source: VNA)

Hanoi (VNA) – The Electricity of Vietnam (EVN) plans to withdraw capital from the Thuan Binh Wind Power JSC in the third quarter of 2018.

Thuan Binh Wind Power JSC’s activities include investment in construction of renewable energy projects such as wind power, solar power and waste-to-power, and provision of consultation services for renewable energy projects.

Currently, EVN will continue processing the equitisation of EVN Power Generation Corporations 1 and 2.

At the same time, the firm will strive to complete the withdrawal of capital in the EVN finance company (EVNFinance), while continue with divestment from the Dong Anh Electrical Equipment Corporation, the Power Engineering Consulting JSCs 3 and 4 after the Ministry of Industry and Trade approves divestment plans.

EVN also revealed that the group has so far finished its divestment from the Thu Duc Electro Mechanical Joint Stock Company (EMC), and launched initial public offering on the Power Generation Corporation 3. It is preparing to hold first meeting of shareholders soon.

EVN sold over 58 billion kWh of electricity in the first four months of 2018, representing a year-on-year rise of 10.59 percent.

Domestic commercial power output rose by 10.51 percent in the four-month period, according to EVN.

In April alone, the corporation sold over 16 billion kWh of electricity, up 10.34 percent against the same month last year.

Electricity losses in January-April were estimated at 6.81 percent, 0.39 percentage points lower than the set target of 7.2 percent.

EVN produced and bought 67 billion kWh of power in four months, a year-on-year rise of 11.08 percent, including 18.03 billion kWh in April.

Power transmission in April was estimated at 15.3 billion kWh, and the figure for the four months was 56.4 billion kWh, up 10.8 percent over the same period last year.-VNA