The Ministry of Industry and Trade has given the green light for the establishment of three power generation companies, Genco 1, 2 and 3. The newly-established companies will take over electricity generating plants directly under the Electricity of Vietnam Group (EVN).
Uong Bi thermal power plant in northern Quang Ninh Province will be the backbone for Genco 1, which will also manage big hydropower plants like Dai Ninh, Ban Ve, Song Tranh, and Dong Nai. Genco 1 will also take over EVN's stakes in Quang Ninh Thermal Power Plant and some other thermal project management boards nationwide.
Genco 2 is the upgrade of Can Tho Thermal Power, managing the hydropower plants of Quang Tri and An Khe KaNak, the thermal power plants of Thu Duc, Hai Phong, Pha Lai and a number of other management boards.
The last one, Genco 3, was established on the basis of Phu My Thermal Power one member limited liability company and 11 affiliates including Buon Kuop Hydropower Plant, and the thermal power plants of Vinh Tan, Ba Ria and Ninh Binh.
The three generation companies will remain under EVN and had their personnel appointed by EVN.
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