Power – In-depth – [OVERWEIGHT] – Green Era

Long-term, fast growth in demand for electricity opens up a lot of opportunities for industries in the power system. Regarding the power generation activity, especially, we highly evaluate the growth potential of the two sources of gas turbiness and wind power in the mid- and long-term based on analyzing the two fundamental characteristics of the power system in terms of (1) stability and (2) economic efficiency. we rate BUY on NT2 (TP: VND29,400, upside: +20%), QTP (VND23,400, upside: +54%), and HOLD on GEG (VND13,000). In addition, we positively value POW’s growth potential after 2024, when NT3 and NT4 plants begin commercial operation.