PV Power Exceeds Targets in Impressive First Half Performance
On June 29, 2026, the Party Committee of PetroVietnam Power Corporation (PV Power) held its expanded Party Committee Meeting for the sixth time, term 2025-2030. The conference served to review the Party's work, evaluate the implementation of political and production business tasks in the first half of the year, and deploy key tasks for the remaining six months of 2026.
Outstanding Achievements in the First Half of 2026
During the first six months of 2026, PV Power achieved impressive results, exceeding numerous important targets. Total electricity production and trading reached 12.5 billion kWh, an 8.3% increase compared to the same period last year. The company also completed 100% of its planned contribution to the state budget with a total amount exceeding 3,200 billion VND.
These achievements demonstrate PV Power's strong operational capabilities and effective strategic execution in a competitive energy market. The company's performance reflects its commitment to national energy security while maintaining sustainable business practices.
| Performance Indicator | Target | Actual Achievement | Completion Rate |
|---|---|---|---|
| Electricity Production (billion kWh) | 11.5 | 12.5 | 108.7% |
| Revenue (billion VND) | 25,000 | 27,500 | 110% |
| Pre-tax Profit (billion VND) | 3,500 | 3,850 | 110% |
| Budget Contribution (billion VND) | 3,000 | 3,200 | 106.7% |
The Leadership Role of the Party Committee
At the conference, Secretary of the PV Power Party Committee emphasized the leadership role of the Party in guiding and promoting business operations. The Party Committee of PV Power has effectively implemented the resolutions and directives of the Party, particularly Resolution No. 23-NQ/TW on developing the private sector as an important driver of the socialist-oriented market economy.
The Party Committee has focused on building a clean and strong political system; strictly implementing Party discipline and order; strengthening inspection and supervision; and promoting democracy and collective intelligence in making major decisions for the organization.
This political leadership framework has proven instrumental in aligning the company's commercial objectives with national development priorities, creating a synergy between business performance and social responsibility.
Sustainable Development and Energy Transition
In the context of global energy transition, PV Power has actively implemented wind and solar power development projects. The company has completed and put into operation Vietnam's largest offshore wind power plant with a capacity of 600MW, contributing significantly to the country's renewable energy development goals.
PV Power is also implementing an LNG power development plan with a total capacity of 3,000MW, expected to become operational from 2028. These projects not only help ensure national energy security but also contribute to carbon emission reduction, moving toward sustainable development goals.
The company's strategic focus on renewable energy and LNG positions it at the forefront of Vietnam's energy transition, balancing immediate energy needs with long-term environmental considerations.
Key Tasks for the Second Half of 2026
To complete and exceed the 2026 plan, PV Power will focus on the following key tasks:
- Continue to boost production and business operations, striving to achieve 13 billion kWh of electricity production in the second half of the year
- Complete LNG power projects in Ba Ria - Vung Tau and Binh Thuan provinces
- Strengthen research and application of new technologies in production, particularly renewable energy technologies
- Improve corporate governance effectiveness and enhance operational transparency
- Strengthen environmental protection efforts to ensure sustainable development
Vision for 2030
According to its orientation for 2030, PV Power aims to become a leading enterprise in the energy sector, particularly in renewable energy and electrification. The company sets a target of achieving 50 billion kWh in annual electricity production, with renewable energy accounting for 30% of this total.
PV Power also commits to actively contributing to Vietnam's socio-economic development goals, ensuring national energy security while reducing carbon emissions toward achieving net-zero emissions by 2050.
The conference created a high degree of unity within the entire Party Committee and PV Power workforce, with determination to excellently complete the set targets and tasks, contributing to the sustainable development of Vietnam's power industry.