The opportunity to expand the renewable energy industry at C47 of CEO Vu Phong Solar
Before becoming Chairman of the Board of Directors of C47, Mr. Pham Nam Phong was a famous figure in solar power, founder, holding the title of Chairman and CEO of Vu Phong Solar for more than 12 consecutive years.
Mr. Phong's appearance at C47 in 2020, with many observant investors, soon realized that C47's upcoming new business field would likely be related to renewable energy.
Right at the beginning of 2022, on January 3, the Board of Directors (BOD) of Construction Joint Stock Company 1 (C47) passed a Resolution to collect written opinions from shareholders to add 47 business lines including : Power production; electricity transmission and distribution; construction of electrical projects; production of concrete and products from concrete, cement, and plaster; exploiting, treating and supplying water...
According to C47, by adding the above occupations, C47 will make the most of its experience and capacity in the field of construction of irrigation and hydroelectric projects, which are the company's outstanding strengths after more than 46 years of establishment. establish and develop. This is also a great opportunity for C47 Leading the development of clean energy and renewable energy - a field that is growing very quickly and is prioritized by the State for development in the general global trend., especially when Vietnam and many countries are actively implementing solutions towards the goals of reducing greenhouse gas emissions and being carbon neutral.
Making good use of this opportunity will help C47 boost revenue and profits, expand scale and market share for even stronger development.
Previously, on December 15, 12, C2021 opened a new field with an important signing: Memorandum of understanding with Vu Phong Energy Group and STEAG Energy Services GmbH (Germany) to provide services for wind power projects in Vietnam.
According to the signed agreement, C47, Vu Phong Energy Group and STEAG will cooperate in providing project development consulting services and wind power project implementation, based on promoting and combining the strengths of each other. each side. Cooperation also aims to participate in partial investment in wind power projects in Vietnam.
Besides expanding business activities in the field of renewable energy, C47 will participate in building gas power plants, producing concrete and products from concrete, cement, plaster... to supply and Construction of transportation infrastructure, urban underground works...
The chain of previous events and information about Vu Phong Group also shows that, since Mr. Pham Nam Phong appeared at C47, there has been close cooperation between the two giants of the construction industry, but one side is construction and installation. Irrigation and hydroelectric projects, on the one hand, renewable energy. And before the 3-party cooperation memorandum above was issued, from the beginning of 2021, Vu Phong - STEAG signed a cooperation agreement to jointly provide asset management service packages (Asset Management) to help optimize product potential. production of wind power plants, maximizing asset value and profits for investors.
It is important to know that Vu Phong Energy Group has financial capacity and extensive experience in the field of EPC, O&M of solar and wind power plants. Among them, Vu Phong Group has many years of experience with a series of large capacity solar power plant projects, has built more than 500 Wmp, and is operating and maintaining more than 350 Mwp.
As for C47, it is a listed enterprise on the stock market, known as an enterprise with decades of experience in the field of construction and installation, specializing in implementing irrigation and hydroelectric projects. In the last 15 years, the company has completed more than 30 irrigation and hydroelectric projects across the country, worth more than 20.000 billion VND, with many projects being key national projects.
So "what wind" brought Mr. Pham Nam Phong from an employee specializing in renewable energy, who made a name for himself with Vu Phong Group, to become Chairman of the Board of Directors of C47?
Chairman of C47 shared that he has worked in the construction of renewable power projects since very early, building solar power plants or hydroelectric plants are both construction industries, so participating in C47 I have many advantages. having run a construction company for more than 13 years.
In the renewable energy market, both listed and unlisted, there are many businesses participating. Typically Bamboo capital, Ha Do Group, PC1, TTC,... or REE - are known as strong units in terms of capital, personnel and experience in this field. However, Mr. Phong said that C47 and Vu Phong have their own competitive advantages. Specifically, the two units have capacity and experience in the renewable energy industry such as hydropower and solar power. Regarding capital, the company is improving its financial indicators, issuances to increase capital in 2022 are expected to be favorable and will improve the company's capital capacity.
Currently, Vu Phong Energy Group (VPEG) and C47 have cooperated to participate in joint ventures to implement a number of projects. The leaders of both sides are currently considering other deeper cooperation structures to promote their strengths. finance, project implementation and management capacity... of the two parties in the near future.
For 2022 alone, Mr. Nam Phong assessed that 2022 will be the peak year for medium-term capital and public investment disbursement. With preparation and available advantages, C47 will have many good jobs. Currently, in addition to the value of back-log work in 2021 turning over more than 2000 billion VND, the company is preparing to bid, negotiating a work volume of more than 5000 billion VND, and will make efforts to achieve sales of over 3000 billion VND. every year from 2025.
According to the plan, C47 will participate in the construction of hydropower projects in Laos, and participate in the construction of infrastructure for industrial plants such as gas power plants, steel factories, airports and ports. In addition, the precast concrete factory will be completed in the first quarter and will have revenue in 1.
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Chat with Businessmen Pham Nam Phong
What is the most memorable thing for you in the year of Covid 2021?
As Hai Au Hotel in 2021, it is determined not to close a day, accompanying the locality to fight the epidemic, serving safe accommodation for epidemic prevention officers, and a quarantine place for people returning to the locality. Thanks to this effort, Hai Au Hotel is highly appreciated by local leaders and loved even more by tourists.
What is the big transformation of C47 that you are satisfied with after more than 1 year as Chairman of the Board of Directors?
Although 2021 only achieved more than 80% of the planned revenue, thanks to proactively applying ERP to the business, closely monitoring project effectiveness weekly, and reducing costs, the company has exceeded 40%. profit compared to plan even though Hai Au Hotel in 2021 does not contribute profit to the company.
In 2021, C47 has completed and handed over many large projects such as the discharge gate project cluster - Phase 1 of Bac Ai pumped storage hydropower project (Ninh Thuan), Da Nhim expanded hydropower plant (Lam Dong), Irrigation Tan My (Ninh Thuan)... In the days approaching Nham Dan Tet, C47 is rushing to complete the final works to complete Dong Mit water reservoir (Dong Mit Irrigation, Binh Dinh) for acceptance and put into use. in Quarter 1/2022.
In addition, C47 is also implementing construction projects for Hoa Binh Hydropower Extension (Hoa Binh), Dong Mit Hydropower Plant (Binh Dinh), repairing and improving safety of WB8 dam in Lam Dong province (Lam Dong), Phu Phong weir (Binh Dinh), Construction of wastewater collection pipeline in Co Co Da Nang river basin (Da Nang city)...
"Carrying" two large businesses at the same time, how can you do your role well?
When assuming the position of Chairman of C47 Board of Directors, I resigned from the executive position at Vu Phong and focused on doing management work on both sides. Specifically, in August 2, Vu Phong Energy Group appointed a new General Director, Mr. Nguyen Quang Tri - previously holding the title of Deputy General Director, in charge of the Group's Business.
What dreams and ambitions do you have for C47 and what is the basis to do it?
My dream for C47 is to preserve and promote the strong tradition of the C47 heroic collective, going through the 50-year journey, towards a hundred years. In addition to traditional businesses that bring in large revenues such as irrigation, hydroelectricity, hotel and restaurant services and laboratory services, motorbike and equipment overhauling, C47 will expand its market share through infrastructure and manufacturers. heavy industrial machinery, producing precast concrete components to serve urban undergrounding as well as participating in new business segments in line with the trend of reducing carbon emissions such as clean water projects, afforestation, and other projects. renewable energy project, aiming to be a large-scale and sustainable enterprise.
To do that, I believe that in addition to available capacity, the human and technological factors are the most important, and will pay more attention in the coming years to further develop and develop these factors.
According to Investment newspaper