PV Power produces around 10 percent of Vietnam’s total power output. (file Photo)

Hanoi (VNA) - PetroVietnam Power Corporation (PV Power) set a target of reaching an output of more than 5.6 billion kWh in the last quarter of this year to fulfill its full year’s plan.

To fulfill the goal, the company will focus on the safe and effective operation of its power plants. It will upgrade the Vung Ang 1 and Ca Mau 1 power plants while repairing important equipment of the Nhon Trach 1 plant.

PV Power reported that it produced a total output of 16.038 billion kWh from January to the end of September, meeting 74 percent of the yearly plan.

Its electricity output mainly came from Ca Mau 1, Ca Mau 2, Nhon Trach 1, Nhon Trach 2 and Vung Ang 1 plants.

The company also owned Nam Cat, Hua Na and Dakdrinh hydroelectric plants.

It 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 24.8 trillion VND (1.06 billion USD) and 1.8 trillion VND, respectively, in the first nine months of the year, equivalent to 106 percent and 124 percent of the annual plans.

It earned after-tax profit of over 1.4 trillion VND and contributed more than 1 trillion VND to the State budget.

PV Power produces around 10 percent of Vietnam’s total power output.-VNA