Overcome difficulties and break through
On January 1, 2013, EVNGENCO2 officially came into operation with 12 member units stretching from North to South. This historic turning point places on EVNGENCO2 the responsibility of becoming a large, prestigious and responsible Power Generation Corporation towards Vietnam Electricity (EVN), towards society, towards the country, contributing to building a healthy competitive power generation market.
However, the financial situation at the time of establishment was a difficult problem for EVN in general and EVNGENCO2 in particular. EVNGENCO2's member units are diverse in type, from oil thermal power, coal thermal power to hydropower... If including the units being deployed and planned for construction, the total installed capacity of the whole company is about 4,500 MW, much higher than the 500 MW Can Tho Thermal Power Plant. The headquarters of member units and units are distributed from North to South, from the highlands to the plains, so traveling is difficult, and the differences in regional culture are obvious.
EVNGENCO2 Headquarters is located in Binh Thuy District, Can Tho City.
The geographical isolation combined with the lack of experienced staff in managing and operating a business with many member units led to confusion in building an organizational model, human resource plan, financial plan, and production and business plan. Not to mention the myriad of challenges due to the constantly increasing demand for electricity, while unfavorable weather with prolonged drought led to water shortages in hydroelectric reservoirs, natural disasters, unusual storms and floods, coal shortages, high input material prices for electricity production, etc. Under such pressure, the EVNGENCO2 collective made efforts day and night, carefully taking every step, pondering every decision.
In the period of 2014 - 2018, 11 units of Hai Phong II Thermal Power Plant; Song Bung 4 Hydropower Plant; O Mon I Thermal Power Plant; Trung Son Hydropower Plant; Song Bung 2 Hydropower Plant went into commercial operation, increasing the capacity by 1,446 MW, marking the growth of EVNGENCO2. Up to now, the installed capacity of the entire EVNGENCO2 has reached 4,461 MW, an increase of approximately 1.5 times compared to 2013. This number is expected to continue to increase when new power plant projects are put into operation such as wind power, solar power on reservoirs and hydropower expansion projects.
Imprint of equitization
July 2021 is considered a historical milestone in the development process of Power Generation Corporation 2 when it officially transformed the parent company EVNGENCO2 from a one-member limited liability company to a joint stock company with a charter capital of VND 11,866 billion. As if starting the right development path, after equitization, EVNGENCO2's labor productivity increased from 2.52 million kWh/person in 2020 to 2.84 million kWh/person in 2022 (an increase of 12%). From here, equitization has contributed to innovating the organizational structure and management model of the Corporation.
Since its establishment, each year, EVNGENCO2 has contributed to the state budget at least 1,300 billion VND, at most 2,500 billion VND, and its member units are always in the top group of highest budget contributors in the places where their headquarters and factories are located. In particular, in 2021, overcoming the Covid-19 pandemic, EVNGENCO2 contributed to the budget more than 1,900 billion VND. That shows the internal strength and vitality of a newly equitized enterprise. In the past 10 years, the parent company EVNGENCO2 alone has contributed 4,198 billion VND to the budget of Can Tho City.
Social Responsibility
With the orientation of building EVNGENCO2 as a responsible enterprise to the community, the Corporation and its member units have contributed 130 billion VND to social security activities. These are gifts filled with the feelings of the "orange soldiers", solidarity houses built with love; gifts to support the people of the Central region after each storm; or new schools built with many meaningful scholarships, helping poor children go to school... The affection is also shown through more than 3,000 units of blood that all EVNGENCO2 officers and employees participated in donating blood from 2015 - 2022.
EVNGENCO2's staff always strive to create breakthroughs.
Over the past 10 years, it is clear that in the midst of difficulties, EVNGENCO2 always sees opportunities. 3 thermal power plants and 9 hydropower plants have constantly strived to improve to today contribute nearly 6% of the country's electricity output. EVNGENCO2 has gradually affirmed its position in the field of power generation through its important contributions to the socio-economic development of localities and the country in general.
"In its growth strategy, EVNGENCO2 identifies three key areas: modernizing corporate governance, digital transformation and green transformation. To implement this strategy, EVNGENCO2 pays special attention to attracting talent and expanding international cooperation, especially with leading corporations in the energy sector. EVNGENCO2 wishes to accompany potential international partners to invest in large-scale projects as well as diversify investment forms," affirmed Mr. Tran Phu Thai, Chairman of the Board of Directors of EVNGENCO2.
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