[REDUCE] Higher presurer of renewable energy


- POW is taking advantage of the tremendous domestic demand for electricity in long term. According to MOIT, the 2016-2035 CAGR of electricity demand is 7.9% p.a., the highest growth in all the types of energy. Currently occupying 8% of Vietnam's total capacity, the output of POW reached 22.54bn kWh in 2019. - The National Power Development Planning has affirmed the priority to apply LNG thermal power, which POW has competitive advantages thanks to its modern technology and high efficiency. Furthermore, the company has been approved of constructing 2 more gas thermal power plants (Nhon Trach 3 & 4) with a total capacity of 1,500MW. These two plants are expected to start operating in 2022 and 2023. - In the mid-and long-term, the input shortage of coal and gas will be alleviated. In 2020, POW has signed a long-term contract with TKV to ensure the supply of ~3mn coals for Vung Ang 1. Besides, the slump of gas supplied for Nhon Trach 1&2 in Nam Con Son gas field will be offset by the Sao Vang - Dai Nguyen field (1.6bn m3/year), which will be delivered from early 2021. 

POW-PV Power
Trung Hoang

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