General Information
about EVNGENCO3

Acknowledge the role and position in the power generation market, in order to serve long-term development goals and maintain appropriate market share in the coming period, EVNGENCO3 has been implementing the following main orientations: 
Power Generation: Maximize production of existing power generation sources and gradually implement fuel conversion according to Resolution No. 121/NQ-HDQT dated September 19, 2022, on development strategy for the period 2022 – 2030, vision to 2035.
Coal thermal power: With the motto of diversifying and proactively securing fuel supply; in addition to using domestic coal resources according to the signed agreement, EVNGENCO3 will continue to deploy solutions to purchase high-quality imported anthracite coal from global sources. This ensures sufficient fuel for production, enhances operational efficiency, and reduces heat consumption in power plant operations, implement research on converting operations mixed with Ammonia and Biomass to reduce emissions in line with global technological advancements.
Gas thermal power plants: Deploying operation using LNG gas to promote the efficiency of Phu My and Ba Ria power plants. Research to upgrade/ invest in new technology to operate in combination with Hydrogen gas in the future.
Investment in power projects: With strong orientations and financial situation, EVNGENCO3 aims to strive to grow and maintain an installed capacity ratio of more than 10% compared to the power system and contribute to the annual electricity output proportion of about 15% of the entire system’s electricity output.

On September 19, 2022, The Board of Directors of EVNGENCO3 issued Resolution No. 121/NQ-HDQT on the development strategy for the 2022-2030 period, with a vision to 2035. A journey that requires strong determination and specific actions to overcome.
In the first phase of this journey, EVNGENCO3’s coal-fired power plants will be prioritized for investment with the goal of ensuring the environment with solutions to upgrade and improve environmental equipment and carbon capture. In addition, applying Ammonia mixed combustion and Biomass mixed combustion technologies will also contribute to ensuring the environment of coal power plants. For gas turbines, the clean energy transition will be carried out in a later stage, in which hydrogen mixing combustion is the top priority. Existing gas turbines will be upgraded and improved. Besides, EVNGENCO3 will also participate in many areas of the currently very vibrant and potential Hydrogen market.
Not only a direction, currently EVNGENCO3 along with many technology-ready partners who wish to accompany EVNGENCO3, also are realizing the goal of energy transition through investment research/Investment cooperation in new power source projects with a focus on green/clean power sources (offshore wind power, flexible ICE power plants, LNG power plants, small/medium power plants…).
With the aspiration to rise and fully accomplish its mission, EVNGENCO3 confidently moves forward on the journey of clean energy transition and sustainable development, aiming for a brighter future for future generations.

The restructuring process was marked from September 27, 2018 when EVNGENCO3 was the first power generation corporation in EVN to officially transform operations into a joint stock company. Company’s stock (PGV) traded on UpCom. Nearly 4 years later, on February 10, 2022, PGV shares were officially listed and traded on HOSE, with higher standards in listing activities and management of large-scale public joint stock companies, opened up opportunities to bring EVNGENCO3 closer to major domestic and foreign investors to continue promoting the restructuring process according to EVNGENCO3’s development strategy.
On December 31, 2024, the Commission for the Management of State Capital at Enterprises issued Decision No. 673/QD- UBQLV, approving the actual value of state capital at the official transition point to a joint stock company. This serves as a decisive foundation for EVNGENCO3 to implement its restructuring process in the coming period. EVNGENCO3 has been actively seeking potential investors, particularly professional investors and large corporations operating in related fields such as finance and technology, to participate in share acquisitions and become major shareholders of the Corporation. With the involvement of major investors, EVNGENCO3 aims to further enhance its resources (financial and human capital), adopt modern governance practices, and embark on a new phase of development in alignment with the growth of Viet Nam’s power sector.

REPAIR – O&M SERVICES: With a foundation of more than 25 years of repairing all types of thermal power plants from manufacturers MPW, GE, Siemens, Doosan, SEC, etc. EPS (EVNGENCO3’s branch) has continuously accumulated experience, mastered technology, developed the market and currently has carried out regular repairs and major repairs of power plants belonging to EVNGENCO3 and EVN with a total capacity of nearly 6,700 MW. Besides maintaining the market, EPS also continuously receives in-depth training on repair and maintenance of turbines, generators, boilers, wind turbines, manufacturing technology, boiler operation optimization technology, dynamic balance, … in advanced countries around the world with the aim of providing full package operation and maintenance services for domestic and foreign power plants. Currently, EVNGENCO3 is providing O&M services for Phu My 3 Power Plant and Phu My 2.2 Power Plant and has signed a 12-year O&M contract for Hiep Phuoc Power Plant.
PROJECTS MANAGEMENT SERVICES: Construction investment project management is also the strength of EVNGENCO3. With more than 25 years of experience participating in investment development and construction of large-scale power center projects including combined cycle gas turbines in Phu My, coal thermal power in Vinh Tan and Mong Duong, hydropower (in Buon Kuop, Ban Chat), etc. EVNGENCO3 will become a reliable partner providing management services for power projects inside and outside the industry in the near future.
PROVIDING ENERGY SERVICES: On July 3, 2024, the Government issued Decree 80/2024/ND-CP regulating the direct power purchase agreement (DPPA) mechanism. With its strengths and solid internal resources, EVNGENCO3 has prepared all necessary resources to establish an energy service unit (electricity market) to leverage its advantages and enhance operational efficiency.

In parallel with the digital transformation strategy and the shift to clean energy, EVNGENCO3 proactively implements human resource development training programs to build a high-quality, professional workforce, t he “liberating spirit” is the key feature of these training courses, focusing on soft skills development with the goal of enhancing capabilities and competencies to meet the company’s development objectives. It fosters a spirit of collaboration and innovation, where all members strive together to make a difference and move forward. The decision- making process is diverse and collaborative, which is a distinctive feature of EVNGENCO3.
Management staff plays a pioneering role in digital transformation, improving management capacity, and adapting flexibly to lead and build a team of skilled employees with high technical expertise and professionalism, meeting the development requirements of the energy sector according to international standards. EVNGENCO3’s technical team is deeply trained in specialized knowledge, mastering technology and equipment systems, replacing foreign experts, and ensuring the safe operation management of the electricity system, with a focus on providing high- quality resources for operations and maintenance of various technological models.
Entering the next phase with the ambition to achieve the goals set by the company and continue to break through and reach further, with the passionate enthusiasm of the workforce in all areas, from operations management, technical work, project management, to advanced governance, and a spirit of continuous innovation and creativity, it is certain that the EVNGENCO3 team will continue to create sustainable and unique values in the next stage.