PV Power reports July revenue of 2.06 trillion VND, projects further growth in August

The PetroVietnam Power Corporation (PV Power) logged some 9,411.7 million kWh in total electricity output between January and July, with an estimated total revenue of more than 17.99 trillion VND (721.78 million USD).

A team of engineers is inspecting and maintaining equipment at the Nhon Trach 2 power plant. (Photo: VNA)

The company plans to achieve 2.193 trillion VND in revenue in August.

According to its recently released production and business report for July, the total estimated electricity output across its power plants was estimated at 1,042.7 million kWh. Electricity sales revenue exceeded 2.06 trillion VND, with the Ca Mau 1&2 power plants contributing the largest share at over 1.01 trillion VND.

PV Power noted that the hot weather continued across the country in July, with average temperatures nationwide being 0.5-1.0 degree Celsius higher than the averages of many years. However, heavy rains in mid-July led to flooding in northern provinces, causing a drop in electricity prices, with the average FMP (full market price) for July estimated at around 1,135 VND per kWh.

By the end of the month, PV Power's cumulative electricity output for the year stood at approximately 9,411.7 million kWh, with its total revenue estimated to surpass 17.99 trillion VND. On the stock market, the company’s POW shares closed at 13,450 VND on August 16, reflecting a roughly 20% increase since the beginning of the year.

In August, PV Power plans to continue the safe, stable, and efficient operation of its power plants, with a projected electricity output of 1,011.5 million kWh and an estimated revenue of 2.193 trillion VND.

PV Power also announced its collaboration with the Petrovietnam Gas Joint Stock Corporation (PV GAS) and the Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) to ensure sufficient fuel supply for the power plants to meet load demands. In addition, the company is exploring the development of renewable energy projects.

Recently, PV Power signed a memorandum of understanding with EN Technologies Inc. to research and develop an electric vehicle charging station system in Vietnam. Under the pact, it will be responsible for finding station locations, providing the accompanying technical infrastructure, including power supply. PV Power will also supply all other equipment, such as electrical distribution cabinets, telecommunications cabinets, fire protection equipment, surveillance camera systems, while managing related construction, installation and site improvements work and covering associated costs like insurance and permits. After careful research and evaluation, the company decided to proceed with the construction of a pilot fast-charging station at No. 6 Huynh Thuc Khang Street, Hanoi.

The DC fast-charging station will have a total usable capacity of 100-120 kW, occupying an area of about 30 – 35 square meters. The station will feature two standing-type chargers, each equipped with two charging ports delivering 50-60 kW each. The chargers will include display screens and support payments via QR code scanning.

The construction of the charging station will adhere to current regulations, standards, and guidelines for construction management, quality control, occupational safety, environmental protection, and fire prevention. The total investment cost for the project is estimated to exceed 1.8 billion VND./.

VNA