PV Power Production Performance Review: July 27, 2026 Update and Short-Term Objectives
Power Corporation of Vietnam (PV Power) recently convened a conference to review its production and business operations for the first half of 2026 and outline tasks for the remaining six months. The conference comprehensively assessed production results, operational performance, maintenance and repair activities, fuel supply, and investment construction during the first half of the year. It identified challenges and proposed key solutions aimed at maximizing the achievement of annual targets.
Exceeding Electricity Production Targets
According to the conference report, PV Power achieved impressive results in production and business operations during the first half of 2026. Total electricity output reached 15.2 billion kWh, an 8.7% increase compared to the same period in 2025, and represented 52.5% of the annual plan.
| Indicator | First Half 2026 | Achievement of Annual Plan | Change vs. Same Period |
|---|---|---|---|
| Electricity Output (billion kWh) | 15.2 | 52.5% | +8.7% |
| Revenue (billion VND) | 28,500 | 48.3% | +12.4% |
| Pre-tax Profit (billion VND) | 4,200 | 46.7% | +15.8% |
Effective Operations, Maintenance, and Repair Activities
During the first half of the year, PV Power focused on enhancing the operational efficiency of its power plants. The operational rate reached 98.5%, 1.2% higher than the same period last year. Maintenance and repair work was conducted rigorously, ensuring safe operations and increasing plant efficiency.
Specific achievements included:
- Completion of scheduled maintenance for 5 turbine units with a total capacity of 1,500 MW
- Major repairs on 2 turbine units at Pha Lai Power Plant, ensuring increased operational efficiency
- Implementation of optimization programs, reducing electricity loss to 3.2%
- Successful application of remote monitoring technology at 7 out of 10 power plants
Stable and Cost-Effective Fuel Supply
Regarding fuel supply, PV Power ensured stable resources for its power plants at reasonable prices. Total fuel consumption in the first half of 2026 reached 2.8 million tons of coal and 1.2 billion m³ of gas.
| Fuel Type | Total Consumption | Average Price (Unit) | Cost Savings vs. Plan |
|---|---|---|---|
| Coal | 2.8 million tons | 1,250,000 VND/ton | 3.5% |
| Gas | 1.2 billion m³ | 9,800 VND/m³ | 4.2% |
Investment in Key Projects
In the first half of 2026, PV Power effectively implemented various investment and construction projects. Notable achievements included:
- Completion of the Vung Tau 1 LNG Power Plant project with total investment capital of 25,000 billion VND
- Groundbreaking ceremony for the Vung Tau 2 LNG Power Plant project with a total capacity of 1,500 MW
- Completion of Phase 1 of the offshore wind power project in Binh Thuan with a total capacity of 300 MW
- Accelerating progress on the solar power project in Ninh Thuan with a total capacity of 200 MW
Challenges and Obstacles
Despite achieving positive results, PV Power continues to face numerous challenges:
- Significant fluctuations in input material prices (coal, gas)
- Adverse weather conditions affecting output at hydroelectric and wind power plants
- Increasing pressure regarding environmental protection
- Intensifying competition from other electricity producers
- Shortage of highly qualified personnel
Second Half 2026 Goals and Solutions
To complete and exceed the 2026 plan, PV Power has set key objectives for the second half of the year:
- Aim for electricity output of 14.8 billion kWh, achieving 101.2% of the annual plan
- Target revenue of 30,500 billion VND, a 5.3% increase over the plan
- Pre-tax profit of 4,800 billion VND, completing 103.4% of the plan
- Complete the Vung Tau 2 LNG Power Plant project before December 2026
- Commence the offshore wind power project in Bac Lieu with a total capacity of 500 MW
To achieve these objectives, PV Power will focus on implementing the following solutions:
- Strengthen cost management and optimize fuel usage
- Accelerate the progress of investment and construction projects
- Enhance corporate governance and apply digital technologies
- Increase training and human resource development
- Expand market share and diversify products
Conclusion
The first-half 2026 review and second-half task deployment conference of PV Power has acknowledged its notable efforts and achievements. With high determination and specific solutions, PV Power aims to complete and exceed the 2026 plan targets, contributing to the sustainable development of Vietnam's energy sector.