PV Power reports July revenue of VNĐ2.06 trillion, projects further growth in August

A team of engineers is inspecting and maintaining equipment at the Nhơn Trạch 2 power plant. — VNA/VNS Photo

HÀ NỘI — 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 VNĐ17.99 trillion (US$721.78 million).

The company plans to achieve VNĐ2.193 trillion 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 VNĐ2.06 trillion, with the Cà Mau 1 & 2 power plants contributing the largest share at over VNĐ1.01 trillion.

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 VNĐ1,135 per kWh.

By the end of July, PV Power’s cumulative electricity output in seven months stood at approximately 9,411.7 million kWh, with its total revenue estimated to surpass VNĐ17.99 trillion. On the stock market, the company’s POW shares closed at VNĐ13,450 on August 16, reflecting a roughly 20 per cent 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 VNĐ2.193 trillion.

PV Power also announced its collaboration with the Petrovietnam Gas Joint Stock Corporation (PV GAS) and the Việt Nam 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 Việt Nam. 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 Huỳnh Thúc Kháng Street, Hà Nội. — VNS