The Vietnamese authorities have approved a project to restructure Electricity of Vietnam (EVN) over the 2017-2020 period.
EVN is Vietnam's state-held company and is in charge of domestic electricity generation, transmission, distribution and trading. The company will remain state-held and the new plan aims to restructure its business units in order to improve its efficiency.
EVN will hold 100% of the National Power Transmission Corporation, the Northern Power Corporation, the Southern Power Corporation, the Central Power Corporation, Ha Noi Power Corporation, the Ho Chi Minh City Power Corporation and the National Load Dispatch Center. It will hold more than 50% of the power engineering consulting joint stock company 1 and 2, the Power Generation Corporation 1,2,3 and the Vinh Tan 3 Energy Joint Stock Company. EVN will withdraw from the capital of other engineering and financial subsidiaries.
More generally, the Vietnamese government intends to reform Vietnam power sector until 2025 and for this purpose, all generating companies (GenCos) will be equitized under the state-held EVN, Petrovietnam (PVN) and Vinacomin (mining conglomerate). At least 51% of the GenCos has to be detained by one of the three aforementioned conglomerates and have to carry out the new power plant projects according to the Vietnam Power Planning VII.
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