Vietnam Electricity Corporation was established in 1994 on the basis of consolidation and arrangement of production, circulation and service units of the electricity industry. 1994 was also the year when the North-South 500kV transmission line was put into operation to unify the North, Central and South power systems into a unified Vietnam power system.
Vietnam Electricity was established on June 22, 2006 on the basis of transforming the model of Vietnam Electricity Corporation operating under the model of parent company – subsidiary company.
In 2010 (June 25, 2010) Prime Minister decided to transform the model of Electricity of Vietnam into a State-controlled one-member limited liability company.
The owner of the charter capital of EVN is the Committee for the management of state capital at enterprises (since 2018). Before 2018, EVN’s capital owner was the Government of Vietnam (Ministry of Industry and Trade).
Vietnam Electricity Corporation operates under the model of a state-owned monopoly company owning the entire vertical industry including large power plants in Vietnam, the entire transmission and distribution grid to households. . Notable projects in this period include:
Hoa Binh hydropower plant (capacity 1920MW) is the largest power plant in Southeast Asia until the completion of Son La hydropower plant (2400MW capacity).
Tri An Hydropower Plant (with a capacity of 440MW) is the largest hydropower plant in the South
Yaly Hydropower Plant (capacity 720MW) is the largest hydroelectric power plant in the Central region
Phu My mixed gas turbine plant cluster (total capacity 4205 MW) is the largest power plant cluster in the South, including Phu My 1 (1140MW), Phu My 2.1 (530MW), Phu My 2.1 MR. (439MW), Phu My 2.2 BOT (823MW), Phu My 3 BOT (738MW) and Phu My 4 (535MW).
The North-South 500kV transmission line (also known as the North-South 500kV super high-voltage line, circuit 1) is 1488 km long from Hoa Binh to Ho Chi Minh City.
The North-South 500kV transmission line, circuit 2, was built from Ho Chi Minh City to Hanoi and completed in 2005.
In 2006, EVN’s revenue was VND 44920 billion.
In 2006, according to the decision of Prime Minister Nguyen Tan Dung, Vietnam Electricity Corporation transformed its operating model into a parent company. At this stage, EVN gradually separates the stages of production, transmission and distribution in the business model of the electricity industry, building and developing the electricity market in Vietnam. Along with the multi-sectoral investment movement of Vietnamese enterprises at the end of the first decades of the 21st century, EVN entered the playground of financial investment, telecommunications, and real estate…
Telecommunications: Electricity Telecommunications Company (EVNTelecom) operates in the field of developing domestic and long-distance domestic and intra-provincial fixed telephone service networks, together with mobile phone, Internet services.
Finance – banking: the group is a shareholder of An Binh Joint Stock Commercial Bank and established Electricity Finance Joint Stock Company.
Real estate: directly involved in and managing capital through subsidiaries investing in real estate trading, construction and development businesses.
Education: Hanoi Electricity College (upgraded to Hanoi Electricity University), Electricity College Ho Chi Minh City , Central Electricity College.
Research: Institute of Energy. Since 2010, it has been transformed into a Research Institute under the Ministry of Industry and Trade.
Due to the impact of the financial crisis and economic recession 2007 – 2008 and 2012 – 2013, the fierce competition of enterprises in the same industry, as well as the management capacity of state-owned enterprises, the fields of Investment and business sectors other than electricity invested by EVN gradually lost their initial competitive advantages and fell into recession – business suffered a constant loss. The Group had to divest in most of the fields of Telecommunications – Finance – Real Estate. Around this issue, there are many criticisms in society and the mass media about the effectiveness of multi-industry investment of corporations, state-owned corporations in general and EVN in particular.
Electricity Information and Telecommunications Company handed over to Viettel in the first quarter of 2012.
Divestment through auction of shares held at An Binh Commercial Joint Stock Bank and Electricity Finance Joint Stock Company.
Divestment and removal of brands involved in real estate businesses.
Implementing the roadmap to market Vietnam’s electricity industry, EVN has established and gradually divided into subsidiaries (or equitized) participating in the electricity production and business chain of Vietnam’s electricity industry. Some important milestones:
2007: Establishment of Electricity Trading Company, which is the representative company of EVN to buy and wholesale electricity.
2008: Established the National Power Transmission Corporation on the basis of merging regional power transmission companies into a unified transmission unit with independent accounting.
2010: Established the Northern, Central and Southern Power Corporation, Hanoi and Ho Chi Minh City as electricity distributors and retailers.
2011: operate the competitive electricity generation market.
2012: established the General